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Do I need a Referral Strategy?

To determine the answer you need to compare its potential returns to other ways you could use to market yourself. While a referral strategy is quite cost effective, some can be quite time consuming.

Generally a referral strategy is ideal when you have a higher-priced service or product. 

Define your target market

The last thing you want is to get referrals who don't translate into business. Start by setting the rules, decide what kind of customers you want to attract. Ask for referrals from your loyal customers; the ones that pay on time and are pleasant to deal with. Remember to market your clients by sharing their testimonials and express your gratitude. 

Define your offer

Your first step is to educate your existing customers why it's good for them to refer you. They need to have a good reason. They need to know how the referral process affects them. Talk about rewards, explain that they are actually helping you to save pounds (or dollars) and that translates to bigger savings for them. They help your business to stay strong and healthy and be ready to help them again. Promise you would also work to refer people back to them (if appropriate) or that you will share their contribution.

But most importantly make sure to let them know you're after quality people just like them.

Encourage Referrals

Once you know whom you want to deal with, and what you are prepared to offer to get them in through the door, the next step is ta work on your strategy. Remember people tend to highly value what other people think of them. Explain that by referring YOU their friends would get the highest possible service and be glad they got the referral in the first place.

Ask to mail (I am talking using Royal Mail) your customers' friends a special and relevant to them offer. Start by typing that you want them to know about your special offer and give some bullet points on the benefits of your product or service -remind them the benefits even if they have already got the product or service from you!

Give away a voucher for them to share and one more for them to use freely. The secret is regular mail-outs offerings; and your offerings should include an Incentive!

Give TOP service

Obvious but remember going the extra mile might actually cost you time or money!

Call and Ask them

Be brave. Call them and state that you are wondering whether they know anyone in the market for your product or service -then send them details and keep in touch.

Discounted gift voucher

Lot's of businesses "sale" gift vouchers. What about sharing discounting voucher with your clients -they can use them directly OR share them with their friends.

Send an unexpected gift

ALWAYS send a small gift on their birthday (or with any excuse really). The secret is to enclosure a referral card (see my last point).

Train your team

Ensure your colleagues fully understand the strategy you want to implement. And the vital role they are to play in it. 

Referral Card Template

 (Your Logo or Company Name)

Referral Card

Your Company Details + Special Offer

= back side =

Please fill-out referral details

Name:
Address:
Phone B/H
Phone M
Referred by

Using a referral template/card is vital. The referral card makes it easier for everyone plus it reminds people of your expectations. It also states your professional approach. 

Interested to exchange referrals? Call me or send me a message to get started!

Source/based on 'Instant Leads' by Brandley J. Sugars

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