The following excerpt is from Ivan Misner, Ph.D. and Brian Hilliard’s book Networking Like a Pro. Buy it now from Amazon | Barnes & Noble | IndieBound
With referrals being the lifeblood of every business professional, people often ask us what they can do to generate more referral-based clientele. While we don’t have a one-size-fits-all answer, creating a formalized referral strategy is a great start.
A formalized referral strategy is simply a structured, “locked down” process with the express purpose of deepening relationships and producing referrals. Here are some of the components of a super-effective, easy-to-implement formalized referral strategy.
Write an online newsletter
An online newsletter is simply an email that goes out once or twice a month to your network of contacts, clients and referral partners. The content should be something of value to your readers. If you’re a chiropractor, a newsletter that discusses health, nutrition and exercises people can do to stay healthy would be appropriate. A photographer might consider publishing something about the subtleties — camera angle, lighting — of taking a good picture. A career transition coach might have tips about interviewing, resume writing and how people can find their next job.
The point is this: You want content that’s both valuable to readers and potentially shareable to their friends. By providing useful content through an online, shareable method, you gain top-of-mind awareness among your network.
Create a power team of complementary businesses
A power team is simply a collection of people you have a relationship with, who operate complementary businesses or cater to the same clientele. For example, a real estate power team could include a:
- Real estate agent
- Mortgage broker
- Property and casualty insurance agent
- Handyman
- Exterminator
- Closing attorney
- Home inspector
These are all people who “touch” a home purchase deal and who complement each other, meaning that if one finds a home buyer, then all of them benefit.
You could get together every other week and pass referrals among each other. Forming a power team or plugging into one via a networking group can go a long way toward generating more referrals.
Consider a client appreciation event
Our experience has taught us that most businesspeople fail to hold appreciation events even though the potential upswing is great.
Here’s how it works.
First, partner with one or two friends or colleagues, especially if you’re doing this for the first time, because doing so will help…
