It’s simply not enough to say “I want referrals”; great, so do millions of other small business professionals. As with most things, successful lead generation requires a little bit of planning and tact.
Below I’ve outlined a simple strategy using my own fictitious network.
For this example I’m a marketing consultant (Because I am). I exchange referrals with many small business owners but here is just a small sample of some key players I’d like to add to my network this week.
Harold H.
Industry: Law
Connection: Harold works in the same office building as me. We’ve known each other for years but haven’t formalized a referral relationship… it’s long overdue.
Challenge: Harold is an older professional, very pragmatic and set in his ways. He’s a snail mail kind of guy and never really viewed his professional relationships as a source of new business. He spends a lot of money on outbound marketing and is a bit frustrated with his ROI as of late. Never the less, he’s a talented attorney and the sheer quality of his work alone makes him a candidate for my referral network.
Strategy: Between our brief conversations in the lobby over the years and the fact that an entrepreneur friend of mine was pleased with his work; I’m comfortable with sending Harold a few qualified leads and I know that he works with quite a few small business that could use my services too. I set a date to do lunch and follow through. At lunch, I explain to Harold that I am eager to send him new clients if he’d keep me in mind when he comes across clients who may need my marketing services. I tell him to expect a formal email invitation to join my referral network. It doesn’t end there; after lunch I immediately send Harold an invite and proactively seek to secure him a referral as soon as possible. Setting the rhythm early on will keep expectations high and revenue flowing.
Denise R.
Industry: Graphic Design
Connection: A past client of mine had a website done. During one of our appointments they shared their website and I was really impressed; she is talented.
Challenge: While talented, Denise is young and I don’t want her to confuse referral networking with loose social networking. If I am going to be sending her qualified sales leads I don’t just want a smiley face on my Facebook profile in return.
Strategy: Denise designs websites for businesses obviously looking to increase their presence. I help market those websites. This could become a very profitable relationship and one that’d be foolish to overlook. I call up Denise and explain our connection. I probe her to figure out what she already knows about referral networking and of course I fill in the gaps. I ask to see some more samples of her work to determine if the quality of her services are on par. I follow up with Denise and explain my intentions and why we should be taking advantage of our unique situation. I make my expectations very clear. If she’s up to it, I invite her to join my referral network and hopefully I can send her a lead within the following few days. I want to set a good example so I make an extra effort to not only send her quality leads but to take good care of any client she sends my way. With a little bit of diligence, this could easily blossom into a very profitable long term relationship for both of us.
James L.
Industry: Accounting
Connection: Jim is a friend of a friend. Jim is also a slick talking networker, about as good of a salesman as he is an accountant.
Challenge: Jim talks the talk and while many people can testify to the quality of his work, I don’t want to get lost in the shuffle. I’ve got an accountant named Dave who also does good work and I want to let Jim know that the leads I send him are very valuable and I expect the relationship to be a two-way street.
Strategy: Because of his reputation for top-notch services and his powerful connections, Jim could be a very critical player to have in my referral network. I’ll want to have a one on one conversation with Jim and tell him that I am serious about exchanging referrals. I will also want to remind Jim that I will be tracking our referral relationship through Referral Key and phrase it in such a way that I want to ensure I send him an equitable amount new business. It will be very important that I utilize referral tracking reports to keep this relationship balanced and profitable for both Jim and I.
The best music resonates with people who can directly relate to the lyrics. Identifying with your favorite music can be a very powerful feeling. Good music can also be very true to life and surprisingly applicable to referral marketing.
