How to Deliver Reliable Referrals to Network Partners
By NETWORK. LEAD. EXCHANGE.
Referrals are the oxygen of business networks. Network Lead Exchange explains how to deliver reliable referrals and become a valued member of a business network.
Referrals are what every professional looks for in networking groups. They are a great source of new business because referrals are pre-qualified. However, for professionals new to networking groups or others who just haven’t seemed to master how to give referrals, the pressure to reciprocate is strong. Therefore, it’s important to learn how to deliver reliable referrals to network partners.
Connect the Need to a Service
There’s no business solving every customer’s problem, therefore a savvy professional understands the limits of their business and sees opportunities for network partners to fill in the gap. Understanding where these gaps are allows for ideal referral candidates. These customers have needs and when connecting them to the right professionals, stronger network bonds are created. It’s imperative to identify these gaps and how to fill them. The other benefit is increased customer loyalty.
Customers Ready to Act
A referral is most effective when the customer is ready to act. Professionals must identify customers wishing to get services in the near future. A referral to a network partner where the partner is waiting on the customer is time away from other customer acquisition activities. Referrals are supposed to streamline the process, they’re not supposed to add time into the revenue stream.
Know When Less is More
There’s no need to refer every customer coming through the door. In fact, sometimes the best referrals are the ones not given. There are plenty of customers who are high maintenance. These customers are not fit for referral. If a customer requires more time to handle than most customers, or they constantly have problems, don’t refer them. These referrals are examples of the phrase, “No good deed goes unpunished.”
Promote the Referral to the Customer as Well
Just giving a customer information about a service provider isn’t enough. The best way to qualify a referral is to get the customer excited about the network partner they’re being referred to. Using the credibility established with the customer is key. Customers trust people they do business with, so leverage that trust to establish the credibility of a network partner.
Delivering reliable referrals is the key to being a great partner in a network. Find a network with shared values that’s a fit for your customers @ NETWORKLEADEXCHANGE.COM
