A referral network is a constant exchange of information and contacts between like-minded people. If you don’t have one, you definitely want one.
When done right, a referral network is a self-feeding machine in which you’re getting referrals regularly.
Because your network knows you, and knows your business, the referrals they give you are much more likely to convert than your average lead. That means time spent nurturing and building your referral network equals time saved, because you’re not having to sift through poor prospects.
Let’s dive into seven ways to create and grow your referral network.
1. Identify integrity-focused people.
These have to be people like you. These are people who have goals like yours, work ethics like yours. Maybe they are not necessarily in your business, but they know people who are in your business, just as you have contacts in theirs. Look for the helpers, they are the people you want to connect with.
2. Create a referral profile.
Write down: What does a good referral look like to you?
You have to be able to explain that to these people who are going to be in your referral network, so they know who to look for. “I’m open for referrals,” doesn’t cut it. What do you mean by that?
The profile includes: What type of business, what type industry, geography, jobs, whatever it might be. What’s most important is understanding who your ideal referral is, and it’s amazing how much more successful you’ll be.
3. Give more referrals.
I want you to give more referrals to people who are not only in your referral network, but also to people outside of it.
Once you get into this referral nature, it’s incredible how the floodgates begin to open. Decide to be very intentional about giving referrals to people who are inside and outside your referral network.
I share some great strategies for getting and giving more referrals in this month’s Masterclass. Click here to find out more!
4. Keep your network informed.
I have several people with whom I share a referral network, and we connect minimally every other week. We ask each other questions like: “Who can I help you with? What are you looking for?” We exchange ideas too, but it allows us to stay informed.
Honestly, it puts fuel in all of our tanks. While we’re all comparing notes, we’re lifting each other up, too.
5. Set network objectives.
These are really like guidelines.
Let’s say everybody in the network is going to get at least five good referrals from every other person in the group each month. Whether you choose five, or another number, matters not. What’s most important is to follow through on it and hold people accountable. Because without objectives, you may pull this group of people together and they’ll want to join, but never do anything.
6. Create a helping culture.
Many referral networks become an intellectual network. Every referral network I’ve been part of winds up becoming an idea exchange where we’re really helping people.
“I need some help with this client over here.”
“Would you mind giving me some ideas about…”
It’s impactful how much more everybody jumps in and does.
7. Go the extra mile.
Never think for a moment that you can’t do a little bit more. You want to be the one who not only gives the most referrals, but makes the introductions, helps them along.
I know several people who go that extra mile, and it’s amazing how much business they do because they help other people–and not only in their referral network. As a result, their name and reputation spread and people want to reach out and help them.
Asking for a referral is not hard, and once you do it a few times the process will become second nature to you.
Once you understand the ground rules, and see the amazing benefits, referrals will be a non-negotiable part of your routine.
Referrals are such a vital part of my business, I knew I needed to create a Masterclass to share my knowledge and strategies with you.
For just $59 I’ll walk you through my tested techniques for giving and getting referrals. I’ve included several example messages and emails. I’ll help you identify who you could ask for a referral, as well as the referral jackpot found on social media.
If you want to get serious about taking your sales to the next level, become a Level 3 member because that gets you access to everything. All the masterclasses, open office hours where you get one on one time with me, coaching calls, AND the weekly sales kickoff. In fact, there’s even more on the list of perks than just that! Click here for more information about accessing The Sales Hunter University.
Copyright 2021, Mark Hunter “The Sales Hunter” Sales Motivation Blog. Mark Hunter is the author of A Mind for Sales and High-Profit Prospecting: Powerful Strategies to Find the Best Leads and Drive Breakthrough Sales Results.