I recently got to attend a referral show for the local PSB Chamber of Commerce for the express purpose of seeing what they had to offer. Basically from last year, the PSB has organized such a show for free to 60,000 businesses. Many of these businesses are called “direct selling” businesses. These types of businesses exist to help part-time work-at-home moms. I was so excited last year to take advantage of these demonstrations.
I walked away with great experiences both retailing products and learning about direct selling. I was so surprised at what I had learned. More importantly, I was so inspired to do business with direct selling businesses. The PSB gave me this opportunity to listen and learn.
Referral selling is about understanding your client and inviting them to do business with you because you believe in the products and services you sell or the other businesses in your network. Basically, referral selling is serving. Selling is an exchange of value. Service is a sacred relationship. Spousal relationships are built on trust the trust of your client.
Referral selling is the process of taking someone to do business with you and automatically giving them evidence that their referrer has made a good decision by being represented by your company. Each business, either directly or the third party has a database of clients and customers. The same principles apply as in selling to new customers that you or your company takes on new clients.
The success of your business and the judge of the business is based on the effectiveness of the relationship. Anything you do that exceeds the satisfaction of your customer means more business for your company. The satisfaction of your clients can be enhanced by your personal relationship with them and your companies accommodating practices. Customer service is the most important positive as we know. You have a unique ability to tap into people’s desires to know you, like you, and trust you. Those three variables will provide much value.
The business of referral selling is mostly value-based. These people are satisfied. They want more. They have built-in repeat business. Creating consumer demand creates cash flow, which creates an opportunity for your business to grow. Referral selling is a two-way street. It not only benefits one company but it benefits plenty of companies as well.
If you are familiar with J. Paul Getty, he was asked how it was that he could receive so much command over a business, and he replied “I ask my clients or friends for new business”. Businesses are built on relationships. Referral selling should be a constant and energetic focus to earn income. The standard belief is to generate new business for new clients through the internet or computer systems; however, existing clients are just as important. Referral selling involves building networking (business to business) and personal relationships. Building personal relationships are built on trust, honesty, and integrity.
Referral selling has tremendous potential for success for any business. Referral marketing is about serving your customers, your prospects, as well as your competitors as business, is built on repeat business. Referral marketing is about connecting your clients with someone credible. Simple math shows that 600 friends increase your lifetime client by 1.3. Referrals provide the greatest return on investment than any other stream of business. Within the referral selling system, you will discover online or offline strategies to increase business. Simply put it works.
If I had not experienced the more indirect benefits of referral selling; to increase business, I would not have bookmark this blog nor would I have Sweet Relief training be a part of my decision-making criteria for the year. Introduction to both manual and internet referral marketing systems helps you learn how to make personal connections with your sources leading to more business. Not more band-aids financing brand building techniques.