Beyond the Signature... Referrals and Reviews
As a business owner or sales person we are all looking for more customers and more business. The life blood of any business is revenue. Without constant revenue the machine stops. I generally view money in my business and my life as a river that is running. The reason may seem obvious to some, and to others they concentrate on other metaphors or symbolisms. My goal is to turn the volume of water running through my river up as high as possible. I view the vast amount of clients that could do business with me as sitting in a lake at the beginning of my river of revenue. It is my job to try to open the flood gates on that lake and let the river run as swiftly as it can while staying within the banks of my ability to take on and perform work.
Today I am going to write specifically about what I have found the easiest way to turn up the volume flowing with the least amount of effort. There are many ways to open the flood gates but the ones that I am going to discuss are the least expensive and often overlooked or neglected in any business. The most cost effective and rewarding from the stand point of closing percentages are referrals. Everyone talks about running a referral based business but referrals can be a tricky subject. Most businesses run a “referral program” in which they pay people for their referrals. I found that the clients referring for money were far less effective than other rewards. Referral sources can be rewarded in ways that exponentially helps them or ways that reward them with something that will be viewed with more surprise and intrigue. The first way to ruin a good cash referral source is to not pay them for the cash they thought they were going to receive. But what if the new client didn’t mention their referral source? Now where do you sit with that source? So let’s talk about sources maybe that you have thought about and some perhaps that you haven’t…
Sources:
Previous and Current Clients - Everyone fishes this pond… Right?
Real Estate Agents - This one is pretty obvious
Insurance Agents - This one is also obvious
Insurance Adjusters - Do the job right and be friendly and you will be surprised by how many people they know.
Mortgage Loan Officers - This is a fairly untapped market
High School Booster Clubs - This one can be from a donation to the club
Friends and Family - Do they even know that you are in your line of work? I’m sure you post a picture of your lunch on Facebook… Why not a photo of your profession? Every realtor and multi level marketing company has figured out free social media. Don’t forget to use the free stuff!
Neighbor’s of Project - Perhaps they didn’t like their results but you can display your skill and get win another fan!
Referral source payments are another idea to differentiate yourself from others they have done business and what it means to be a client. The biggest cheerleaders of your business and you as a sales professional are usually fond of you as well. That being said think outside the box in this department and reap the rewards. If you host an event where referral partners are able to spend time with you and share a unique experience they will likely also post about that on social media as well. Keep it fun and don’t limit the time enjoyed to merely cashing a check. Usually the experience will be fantastic because fans of yours will generally get along as well and have a lot of fun together.
Experience Ideas:
Rent a suite at a local sporting event - Invite those that have referred you in a set time to come to an event with you that will for sure raise some eyebrows
BBQ or Appreciation Cookout - Get the whole family involved and rent a bounce house or two
Rent the Go Kart track
Exotic Car Driving Experience
Spa Day - If you have some females on your team that would champion the effort
While you have great clients that are obviously happy don’t forget to drive them toward the reviews that can be the lifeblood of keeping your flood gates open. Reviews speak louder than any great sales person or business owner. Lead them to the sites that perhaps you are focused on. Video testimonials create the ultimate flood gate primer. People can see and hear the voice of a real client with a real story. Don’t forget that when someone shares a review of your company to put that over to your Facebook and also thank the reviewer. With all of this said there’s one more thing that will help drive both of these in a way that seems to have worked for me better than anything that I have ever done throughout my career…
My mother told me when I was a child that if I ever wanted to receive a gift from my Great Grandmother again for anything that I had better send a Thank You card. As an inquisitive child I asked, “Why has she sent them to me this long… I’ve never written a Thank You card?” My mother informed me that she had in fact been writing Thank You cards on OUR behalf for many years. The funny thing is that an email while simple and easy does not release the same amount of joy of the act of receiving something handwritten. I’ve never walked into a home to find an email printed and placed on a shelf or the refrigerator. I have however proudly walked into many homes that had my company’s Thank You card hanging by a magnet or sitting on a shelf proudly displayed. It takes 2 minutes to write a Thank You card and let’s be honest… Aren’t we thankful for them and their business for keeping the water running? Join in the conversation below and share your great ideas or success stories in the comments!
Sales, Simplified.
Brad Corbin