Business Referrals, on today’s podcast, we’re going to be talking about business referrals and why so many people don’t ask for a referral when they’ve done a good job. A referral can be asked of a friend, a relative, or even a customer. If you have been doing a good job, why would a friend or relative NOT give you a glowing recommendation?
Both Michael and Simon think that referrals are the best type of new business acquisition you could ever dream of. Another way of asking for a referral is indirect, asking a client to give feedback on your service. If the feedback is strong, then it would bolster your chances of winning the referral.
They are passionate about business and go the extra mile when it comes to delivering great service.
When you’re trying to sell a product or service, it’s important to get testimonials from people who have used your product or service. Testimonials can help build trust with potential customers and show that your product or service is valuable.
However, once you have a testimonial, it’s important to follow up with the person who gave it to you. This shows that you’re interested in their experience and that you’re grateful for their feedback.
One way to follow up with a testimonial-giver is to ask them if they know anyone else who could benefit from your product or service. This shows that you’re interested in helping others, and it may also lead to new customers.
So, once we have the testimonial, it makes complete sense to either ask for the referral. Or even better to ask something like this, “whom do you know in your network who would be able to use our services? I think you will be surprised at how many referrals you would receive.
Is a recommendation different to a referral and if not why not?
Simon on the podcast, speaks about the difference between a recommendation and a referral. He refers to a recommendation as a passive scattergun approach to gaining business. All too often he believes people are not afraid to ask for a recommendation but they are afraid to ask openly for a referral. Interesting perspective no doubt.
Reward and prizes
I know a lot of corporate clients do not allow gifts of any nature, especially if they have a non-bribery policy which is ever so more popular nowadays than it used to be. So, we need to be creative in rewarding clients and friends for passing a referral to transact business. One of the ways we can give a reward is by agreeing to donate to a charity either linked to the client or friend and therefore benefiting the well-being of your community and supporter network
business referrals: conclusion
Both Michael & Simon think all people in business or otherwise should have a clear strategy when it comes to going to their network of family, friends and clients for an opportunity to work with the people they know. In starting any business, this is one of your first ports of call to establish the needs and requirements of your nearest network.
Michael CraneEntrepreneur, Business Owner, Presenter
Michael has built and runs a successful business for the last twenty years. He’s learned many lessons—some of them the hard way—and he’s met and talked with many other businesspeople. He’s sold thousands of products and learnt the one hundred and one things needed to run a thriving business. Now he’s bringing this knowledge and experience to educate, motivate and inspire other entrepreneurs.
Business Referrals: more episodes
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30 November · Season 1 : MS Show · Episode 49
By Michael Crane
Business Referrals: Today on our podcast, Michael and Simon are discussing the idea of business referrals, and why so many people don't take advantage of them. We will talk about why having a referral is so important, whether it be a friend, relative, or customer, and how to go about asking for a referral in a confident and professional manner.At 40 years-old, you have likely already learned the importance of referrals, but it is just as important to stay up-to-date with the current trends and strategies when it comes to requesting and receiving referrals. Michael and Simon are confident in their advice and will provide you with the best strategies for getting referrals in a confident, professional manner. Stay tuned to hear all about the many benefits of business referrals.