06Jan

Unleash the incredible power of referrals

Word-of-mouth referrals are powerful in numerous ways, they cut costs, boost efficiency, add value to you, your products or service, and first and foremost, they can help build you and your business an outstanding reputation that is priceless.

First of all, you need to build relationships with people before business can be achieved. Few business owners actually ask for referrals and even less ask for referrals as an ongoing marketing strategy. 91% of business rely on word of mouth referral to acquire new customers, yet only 20% of them actually have a system if any kind to generate them.
 
For those who shy away from the ‘s‘ word we are talking about sales a sales team, your referral partners should be considered as part of your business development team, a group of ambassadors actively promoting you and your business. All this bring about a shorter sales cycles which should be an objective for every business as it improves cash flow, and the best part of all this is that referred customers generally come to you already pre-sold by the referrer.
 
A successful referral marketing strategy starts with some essential elements needed to unleash the incredible power of referrals, so look after your referral sources by understanding their needs and motives, but most significantly take the long-term approach that focuses on creating good relationships, with trust being the key ingredient to building and sustaining a good referral network.
 
Thrive developing your connections for growth

If you want to keep up to date with networking hints and tips or would like to find out more about how to make business connections and networking in Norwich and Norfolk, please email enquiries@thrive.buzz or ring us on 01603 597727