Archives for October 2011

Referrals

Why Do Your Want Referral Customers?

Cost Effective, Reduced Price Resistance, Trust is easily established, They are more likely to refer, More likely to do business on your terms, Better customer overall

Reasons For Untapped Referral Potential In Your Business

Reason #1: Taken For Granted =  Assuming you are doing good…  Not quantified

Reason # 2: Satisfaction = Referrals = People are satisfied so I get referrals, Passionate Advocates

Reason #3: The Fear That YOU Are Too Busy  = “Nobody goes to that restaurant anymore.  It’s too busy.” – Yogi Berra, People’s radio’s are tuned to WIIFM, Damaging Admission

Reason #4: Out Of Sight Out Of Mind = We eat sleep and breathe our businesses…  Our customers do not…  Missed opportunities

Types of Referral Systems?

Money Based (accumulate points, refers most, etc.), Gift Based (Free Tickets, Gym Membership, Free Dinner), Prize Based (Monthly or Quarterly), Recognition Based (Newsletter, Thank you cards, etc.)

Ways To Improve:

Method #1: Measuring Referrals = Holding Customers Accountable, What Are Your Expectations For Your Customers?, Making The Hard Decision

Method #2: Have A Conversational Basis = Don’t be self defeating (don’t wimp out), Use current events for relevancy, Maintain a dialogue, Timing is critical, Set the expectation

Method #3: A Customer Newsletter Done Right = Building Emotional Relationships, What Is Done Right?, Crafting It Lovingly Personally, Psychological Triggers

Method #4: Clients are the source; not the sales force = Clients are a source, You’ve got to do the follow up, Ask for names and addresses, Extract the value

Method #5: Increase Your Frequency Of Communication, You can’t over communicate, Build A Customer Appreciation Calendar, Relationship vs. Transaction

Method #6: Viral Materials With Pass-Along Value = Clients are not qualified to be your sales force, Do the heavy lifting for them, Use specifically designed materials (i.e. Referral Cards), Bring value!

Method #7: Business & Social Events = Business vs. Social, Create an opportunity, Make it fun (Magicians, BBQ, Liquor, etc.), Create interest and obligation, Customer appreciation seminars

Method #9: Referral Stamps & Forms = Referral stamps, Custom forms

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