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Business
Referrals -
5 Easy Steps To Increase Your List Of Referral Partners To
100
Author: ©Bonita L Richter
Do you
obtain much of your business through referrals from others-from
people who know, trust, and like you?
Is your network of referral partners producing the number
of referrals you want?
Do you want to increase the size and quality of your referral
partner network?
Getting business by referral from other people is one of the
best ways to grow your business. If you want to earn more
business by referral, you have to be involved in a referral
partner network that is large enough so it can provide you
with a steady stream of new business. Referral partners are
people who are in touch with your prospective clients on a
regular basis.
If you want to earn more business by referral, you have to
be involved in a referral partner network that is large enough
so it can provide you with a steady stream of new business.
Referral partners are people who are in touch with your prospective
clients on a regular basis.
For example, if a business provides web site design services
to small business, their referral partners may include graphic
artists, copywriters, business coaches, etc.
Get the picture?
By actively seeking out referral partners, you will increase
your chances of developing relationships with people who can
refer business to you on a regular basis.
A network of 100 referral partners is usually large enough
to provide you with enough business. Yet, is not too large
that you can't handle staying in touch with them---perhaps
monthly with an eZine publication, or meeting them quarterly
for coffee or lunch.
Here are the 5 steps you can take to build your referral partner
list:
1. Think about who your potential client is, and brainstorm
what type of business services they need to operate their
business. This information will give you clues about what
other professional categories may be good referral partners.
Develop a list of 10 professional categories.
2. For each professional category you identified, actively
seek to make the acquaintance of 10 people. There's a good
chance you already know people in these occupations. If you
need more individuals to increase your list to 10, ask current
business associates if they know individuals they would recommend.
Then, ask them if they would introduce these people to you.
3. Schedule a time to meet with your potential referral partners.
Meeting these individuals provides you an opportunity to tell
them about your products and services, and their benefits.
It also gives potential partners the opportunity to tell you
about their products and services, as well.
At your meetings, provide prospective referral partners specific
details about your market niche so they will be able to quickly
identify if a prospect is right for your business. For example,
if you are seeking businesses that generate $1M to $5M in
revenues, and operate in the metalworking industry, give your
referral partner this information.
4. When you meet someone who seems willing to send you referrals,
add their name to your referral partner list until eventually
you attain 10 people x 10 occupations = 100 referral partners
5. Once you have 100 names on your referral partner list,
and you've made acquaintances, develop your tactics for how
you will stay in touch and build relationships.
Some ideas about how to do this are; develop a tickler file
to remind you to contact and meet them, send out a monthly
eZine to keep your business top-of-mind, attend networking
functions they may attend, send greeting cards, or invite
them to a cocktail or holiday party. The methods you can use
to keep in touch are endless!
TIP: Contact your referral partners at least one time every
three months-once a month is even better!
Over time, you may find some people are not good referral
sources. Replace them on your list to keep it fresh.
About
the Author: Bonita L. Richter, MBA, founder of Profit
Strategies, http://www.profit-strategies.biz
(for FREE tips on how to craft the successful business
you desire, visit http://www.Profit-Strategies.biz
) teaches entrepreneurs and business owners how to start
and grow businesses, attract more clients, and market
their businesses to increase sales, business success,
and generate wealth.
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