An Overlooked Business Growth Strategy - Referrals

One of the best ways to grow your business is through referrals.  However, very few businesses have a referral strategy in place.  Happy customers do not often suddenly become amazing salespeople for your business.  They need some support and should be nurtured.   Referrals are incredibly valuable and should be fostered.  They help you to develop trust and win new customer quickly.  Note: people and businesses tend to refer other people and businesses like them.  So, you should only ask for referrals from your ideal customers and clients.  Here are the 6 key strands you need for a successful referral strategy: **1.Reward-** you need to offer some reward to maximise your referrals.  With businesses, this can sometimes be a referral back to the company who referred you in. It can also be a commission payment, a discount off their bill or a gift. **2.Give customers and clients the “wow” factor** when you have finished the job for them.  This could be an unexpected gift or going the extra mile.  When they have been wowed, you should ask them for referrals.  Remember- you have to ask. **3.Keep in touch with them by doing little things often.** This can be sending a “thank you for the business” card, Christmas cards, a magazine you think they might like etc. You need to remind them that you are there and show you appreciate their custom. **4.Create referral tools- you need to make it as easy as possible for people to refer you.** This could be through something as simple as a leaflet or card with a discount code that they share with friends and family.  It could be free access to a paid on-line resource like a training session.  It could be a few copies of your business book which they can share with their contacts.  There are lots of things that can aid referrals.  What you use depends on the customers you want. **5.Organise a referral event for 6 customers and 6 potential customers.** This helps you and your customers.  This should be fun (e.g. wine tasting, sporting event etc.) and not about selling.  It is a very easy way to get referrals. **6.Develop a process to generate referrals.** This is important but is the last thing you should do as you need to find out what works and what doesn’t work.  A referral process includes the steps, scripts, events to maximise the number of referrals you receive. **Referrals rarely happy by chance. You need to make them happen.** By following the above, you will quickly increase the number of referrals you get.