Leverage the Power of Your Own Referral Program…
As a business owner, chances are you would have every confidence that word of mouth marketing works and that if done well it can make it a much easier task to grow your business. You would also know that relying solely on word of mouth business could literally kill your cashflow or worse still kill the business completely.
Im sure we are not the first to tell you that the key to successfully growing revenues is creating multiple streams of income. For the purpose of specifically looking at how word of mouth marketing can help you grow your business, the key to receiving a consistent and constant stream of referrals is to create a structured program that supports your referral partner and makes it easier for them to refer business straight to you.
A structured client referral program is an excellent way to maximize something you probably already do to some extent in your business — provide excellent service and encourage your existing clients to pass your name onto their colleagues.
Let’s take a look at some of the benefits of client referral programs and some questions you need to consider before you set one up.
Grow Your Business Faster
Ongoing recommendations and introductions can help you grow your business network. A structured referral partner program will support clients, colleagues and strategic alliances to proactively refer business to you in an effortless way.
Add Greater Value
A structured referral program will add instant value to your referrers business and clients as they can confidently refer business, knowing they will never lose a client, enjoy increased revenues from referral fees and gain peace of mind and confidence their clients are being well looked after.
A Quick Path to Your Ideal Client
It doesnt get any better than this. A good referral program can give you a quick path to more ideal clients.
A Referral Program That Benefits Everyone…
Aside from helping to get the word out about your services, a client referral program can provide a number of other benefits to you, your referral partners and the people they refer to you.
- Structured referral programs provide guidelines and examples can make it easy for clients to recommend you.
- A referral program can provide an incentive that justifies your client’s time and effort spent referring you, creating a win-win.
- A good referral program can give you a quick path to more ideal clients.
- A good referral program enables you to make a difference to more people and provides access to those who may have never have found you if it weren’t for the referral partners recommendation.
- Referrals, and the thank you’s that should follow, can help you retain your key clients.
- Ongoing recommendations and introductions can help you grow your business network.
- Structured referral programs create a true win-win-win. A win for the end user, a win for your referral partner and a win for you.
How to Get Started…
Research and planning is a good starting point for setting up a client referral program. Along with considering your goals for your program and a format that will work well with your specific clients and services.
There are many ways to set up client referral programs that can help you find prospects, and essentially, new clients.