Referrals are often the lifeblood of a business, especially in the B2B space; they build heaps of credibility, attract the most immediate clients and transform your business in more ways than you could imagine.
Don’t get me wrong, I’m not disputing the fact that sales and inbound marketing are powerful tools to build a strong client-base, but the value of referrals should never have doubt cast upon it.
In fact, referrals are statistically more effective than other means of gathering clients, so I recommend that you start harnessing that power as soon as you possibly can.
Why Does Credibility Matter?
People are inherently more trusting of strangers than they are of new, or unfamiliar brands. It’s harder to get somebody to spend money on a product or service provided by a company that they are unsure of – this is one of the biggest reasons why sales and marketing is so important for any business to grow.
As a business owner, being aware of this is crucial. Making use of the best sales, or marketing team is in itself highly important, but leaving a solid and lasting impression on existing and past clients, as well as anybody that knows what you do, is just as important.
By developing your credibility, you’re perceived as a brand that leaves a positive impact on your customers, your staff and everybody that you work with and so you’re more likely to harness a powerful network and create more opportunities.
If people are impressed by the work that you do, they come to respect and admire you, which results in them telling others about your service. When you leave a lasting and promising impression, then people will come to spread you like the plague.
This creates a sense of credibility around your name, brand and identity – which in turn will aid you in your networking and the dissemination of your solution.
In other words, credibility is important, because referrals are important and referrals are important, because they work better than sales and marketing.
Diamonds Are A Business’s Best Friend
When visualising the shape of a two-dimensional diamond (four points: one on top, two on the sides and one at the bottom), it becomes a bit easier to map out the structure that referrals follow.
If you demarcate the point right at the bottom as your business, the two side points as your referrals and the top point as the client that you want; you have yourself a diamond-referral structure.
In my own business, as well as those of the clients that I work for, I ensure that the system or structure that we use is in the shape of that two-dimensional diamond, as it helps to give you a visual representation of the symbiotic relationship within that network.
As a business owner, your job is to produce a high-quality solution and provide a remarkable service. By doing just that, you immediately impress the clients that you work for. Your past and current clients are your biggest source of referrals, so you need to ensure that they are always pleased and satisfied with the work that you do for them.
It comes down to creating a wonderful customer experience, as they ultimately generate new leads for you.
When a potential client looks at your brand, they’re often hesitant and go through their own cognitive process to determine whether or not they can trust you. However, when that client is introduced to feedback, or insightful opinions through current or previous clients, then they tend to make a quicker, more informed decision.
If the information that they receive is negative, they know not to bother; if it’s positive, they know it’s worth their time and money. Again, this could be a past, or a current client that has been utterly impressed or disappointed by you, so they inspire (or warn) new potential to either engage with you or avoid you completely.
Why, Then, Do I Use A Diamond And Not A Triangle?
I’ve come to find that it’s not that common to have just one person refer me to new clients, but rather that there’s always a 2nd person that motivates the final decision.
Having two sources refer you to a new client will (obviously) result in a much higher chance that action will be taken. Having one person give a positive opinion about you is powerful in itself, but having two give that impression is supreme.
I know, I know – the odds aren’t exactly the greatest that you will find two people singing your praises, but worry not, as it isn’t necessarily confined to only a second person that motivates the final decision.
And that’s where your marketing strategy comes in.
If you consider one of the points to the side as a client that has referred you, then the other side will often be a form of marketing that they’ve encountered.
When you see an advert, piece of content, billboard or poster then you become aware of the brand, but aren’t necessarily motivated to sign-up; but when someone tells you about a positive experience that they’ve had with that same brand, then you’re far more likely to give it a try.
Two sources will always be better and more effective than just having one. As someone that owns and runs a business, you need to be aware of that fact and ensure that you always leave the best impression possible.
Don’t be afraid to ask for referrals, or to be referred, either. Pride and ego aside, it will be far more cost-effective if you can manage to land clients based on referrals, especially compared to the money you spend going through sales tactics and marketing.
The Best Customer You Can Get
If the customer or client ends up taking on your product or service through referrals, then you would’ve saved time, money and effort. You end up with a client that will also be more likely to do the same and spread your brand and awesome service through word-of-mouth.
By building out multiple networks of these diamond-shaped structures and putting them together (with the bottom points all intersecting), a flower will begin to form and that flower represents a powerful network that your business is at the centre of.
One of the most important things to remember is that you need to give thanks and show appreciation to the clients that share and spread your brand.
Whenever you land a new client through this process, ensure that you find out who referred you to them and make it your mission to reach out and thank them for it. Sending a gift, giving a discount, or even a simple “thank you” could suffice. Just make sure that you give them the recognition that they deserve. It might also help motivate them to keep referring you to others.
One of the greatest things about working with a business coach like me is that your network will expand exponentially.
Turning your business into something profound and remarkable is one thing, but I’ve been around the block many times and as part of my promise to bring value, growth and development to your brand – I will introduce and refer you to powerful new clients that could make a huge difference in the way that you do business.
Have a chat with me and let’s determine the steps that you’re going to take to become the best:
+2783 253 3339