Don’t Keep Me A Secret: 3 Insights into Referral Marketing

One of the biggest challenges all of us face in business is growing our business. We lie awake at night staring up at the ceiling wondering how to connect the dots… how to move the needle. It’s frustrating, isn’t it? You know you’ve got something to offer and nobody’s getting it.  So, we go out and buy a ton of books and download a hundred podcasts trying to find the secret. Well, I have no secrets to share…not really. Because what I’m about to tell you, you already know. One of the best ways to grow your business is through referral marketing. Referral marketing is the art of promoting your brand, your products and services, to new clients (hopefully) through your current ones.  It’s word of mouth at its best. I  speak of referral marketing as an art because while it’s so easy to do it wrong, when it’s done right, it’s a thing of beauty. But let’s be real for a minute, asking for referrals can be awkward. You don’t want to run off a current client by pestering them for names but you realize that you can’t grow if you don’t.  So, many of us take the safe route and don’t ask. Or if we do, we do it too early or are too pushy and bruise the relationship. Implementing a well thought out referral process for clients is not only smart but necessary for growth.  Here are three insights to keep in mind as you sit down to pen your strategy: 1. Set expectations early.  At the heart of the referral process is trust.  If there is no trust, there’s no relationship. If there’s no relationship, you’ll never get a referral.  So, as you sit down with your clients and listen to their needs, when it’s your turn to talk, ask what they expect to get from the relationship.  They’ll be impressed that you even want to know. In turn, gently set a few expectations of your own, including referrals, if warranted. Clients will appreciate your candor. 2.  Earn it.  While you do want to plant a referral seed early on, it will never grow if you don’t tend to it.  Your approach to referrals should match your approach to the overall client relationship. It should be client centered from the very start, focusing on the benefits to them and why that value can only be found in what your business has to offer.  Let your clients know that you’re willing to earn their referrals and do just that. Earn it. Do your job. 3.  Give referrals yourself.  Give and it shall be given back to you.  A great way to kick the referral machine into high gear is to give referrals yourself.  During client meetings, sometimes needs arise that you don’t do. Be ready to pass along the name of another business owner you know who can fill in that gap. Again, your clients will be impressed that you, through another source, have still met their needs. As an added bonus, you’ve just given an opportunity to a fellow business owner, a favor that may be returned one day. Developing a great referral strategy is a key, yet overlooked, part of your overall business strategy.  Because they come from a source already connected to you, referred clients tend to be super loyal and stick around longer. If you’re doing your part and providing that value, I don’t think you’ll have a problem asking and receiving because the best secrets are too good to keep!