Category Archives: Referral Marketing

The 3 Types of Business Referrals and When You Should Use Them (OR NOT!)

by Stephen Labuda

I LOVE REFERRALS! If you like making easy money, then you should too! Referrals are a business person’s dream because most of the work has been taken out of the process and all you have to do is follow up properly on the referral and the business is likely yours. The fact is, though, some referrals are better than others. Knowing the difference between the kinds of referrals that exist in the world of business and how to give and get them more effectively can be the key to your closing more business and making more money.Below is a list of the 3 types of business referrals and when you should use them (OR NOT!)

1. The USE MY NAME referral-You know this one. It is the kind we as business professionals give and get all the time. Someone you know tells you to call someone they know and they say, “Just USE MY NAME.” The person giving this kind of referral may have the best of intentions, but the fact is, these kinds of referrals are really not all that valuable. unless the referral is properly warmed up, it is not likely to turn into real business. You should only use this kind of referral when it is impossible to warm the referral up or time is of the essence.

2. The VITRUAL INTRO referral-Virtual intros are great. These have come about since the advent of the internet. It is simply a way of introducing someone to someone else via email. It is a great way to give and get referrals because all parties are attached to the email. It also gives you the opportunity to explain in detail why you think the two parties should get together and do business. It also offers an easy way to follow up on the referral using the initial email text. Use the Virtual Intro email whenever you can…it is second only to…

3. The FACE TO FACE INTRODUCTION referral-Obviously, there is no better way to give and get referrals than through a face to face introduction. Introducing business professionals face to face is a perfect way to start and build business relationships. It allows the parties to chat and get to know each other a bit. Face to Face introductions are certainly the most valuable type, but it can often be difficult to get all parties in the same place at the same time. Therefore, a 3-way call works great as a second choice here. Now that technology allows us to do 3-way calls from just about any phone that exists, this can be a great way to help refer business.

There you have it, 3 types of referrals and the times to use each. Practice turning USE MY NAME referrals into Virtual Intros or Face to Face Introduction referrals and you will quickly become the star of your personal network!

There is an added bonus, by giving great referrals you can help shape the referrals you receive too!

About the Author

Stephen Labuda is an entrepreneur who built his business by networking with other professionals. You can connect with him through his Boston web design website or through the Boston Networking Group.

How to Find and Acquire the Ideal Customer – The Customer That Brings Dozens of Ideal Customers

By Alan Boyer

I was just reading through some other articles on EzineArticles about “attracting” the ideal customer.

I’m going to deal with two aspects of that.

Our job in marketing should be more about “finding and acquiring” customers instead of “attracting” customers. The difference is passive versus active. “Attracting” sort of implies that if we do all of the right things we’ll attract them to us while we set here. Marketing, done right, however, means that we identify who our ideal customer is then we “go get ’em.” That’s an active step. And THEN if we say the right things to the right people they will literally JUMP into our shopping cart.
The second part of that is about THE IDEAL customer. And most small business owners either have no ideal who their ideal customer is, or they may have identified a much less than ideal customer.I guess we could define ideal, and the really ideal.

There is a lot of ways we could define an ideal customer, and not all of these are this AND this, they are more like this OR this..

Easy to get
The individual customer buys a LOT (they are the super customers. When some clients buy $10, these are the ones that buy $1,000, or even $10,000 each time they come along).
Or, as a group, they buy more. In other words, I had a client who was selling a $5,000 program and having trouble selling them. When asked what an Ideal client would look like she started talking about larger companies who would buy $10,000 to $15,000 of the same program from her. But when we looked at options she was hesitant to even look at we lowered her price to $250 and sold hundreds a month, in other words, $25,000 a month and for only 4 hours of her time, about $6,000/hour. The $5,000 program was taking 8-15 hours a month to produce, and many more hours than that to sell it, and she wasn’t selling them.
Or even a company that could refer LOTS of companies.So, there could be several different ways to define ideal. All of the way from easy to sell, to making the most money, to making the most money with the less time, or a customer or a prospect who’d refer tons of new customers while reducing your time doing it, the last being one of the best, but still, your definition may be different.

Now, let’s take that even further, as I said above “THE REALLY IDEAL.”

The Ideal Customer… The Golden Egg

Let’s call the ideal customer we defined above as “the golden egg.” But now we want to find “the golden goose.” The golden goose is the one that lays dozens of “golden eggs.”

So, once you define a golden egg, who they are, and where we’d find them, then we start looking for “the golden goose” that lays those particular golden eggs.

The Golden Goose… The Customer That Lays Dozens of the Golden Eggs

Creston, one of my clients, who owns a sign company, was talking with me about how to find his golden eggs. At first we were defining the golden eggs as companies in malls. They are frequently moving in and out and needing his signs. He had been doing a lot of really small yard signs such as realtor signs. They were $24 each and were taking up a lot of his time to sell individual signs.

So, as we talked about the potential Golden Geese each of those turned into a different form of Golden Goose.

The mall shops turned into him working with large scale property managers. Those that managed the malls. He made a deal with them. He’d cover the empty shops with signs and help them get that shop filled quicker. Then they’d recommend him to the new shop owners that came in. So, instead of selling a sign here and there to the shops, now he gets almost every shop as a customer both every time it goes empty and every time it has a new shop owner. And, on top of that, some of these shops are franchises, so he gets referrals to other shops around town that are in the same franchise. In fact, he offers a discount to the shop owner who gives him a referral that is sold to another shop owner.

He also built his marketing message to target mall managers instead of shop owners. Now he says that the average mall or property manager makes another $30,000 a year from partnering with him due to the fast turnaround and high occupancy rates. BINGO. Now he gets lots of Golden Goose mall managers. And, that’s at a time when malls are actually downsizing… they really need him. He’s their answer, and they are providing him a nice answer as well.

That was when his sales exploded.

We also looked at how to find the Golden Goose for the real estate signs. He did develop a program for real estate agencies that would recommend his signs to all of their real estate agents, another one for mortgage brokers, and another one for the city wide association of realtors. That certainly kicked his sales of $24 signs up several notches. But they just didn’t compare to the large thousand dollar signs in the malls. The difference was that the small real estate signs weren’t really golden eggs. So, he had developed a goose, but not a golden goose that was laying a lot of golden eggs. Yes, he was getting a lot of eggs, but just not golden ones from this program.

So, where are your golden eggs, and how could you find your big golden geese?

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http://www.100k-small-business-coach.com

Article Source: http://EzineArticles.com/

4 Steps To Get 20 Leads A Day In Facebook

facebook-logoby John Stone
It is well known that Facebook is the second most trafficked site in the world. So that means you can have an inexhaustible amount of leads.

Yes there is a lot of opportunity but how will I attract leads for my business? I am going to give you some basic Facebook marketing methods that work wonders for lead generation.

#1 One of the first mistakes made by new on line marketers is blasting their opportunity to every new person they meet on Facebook. Newbies tend to blast their website and opportunity to any new friend they add to their list. Spamming your opportunity will usually turn most people away.

When I am sent a friend request with a message telling me about their awesome opportunity, I always ignore the request. I am a marketer myself and I do not like to be sold. Many Facebook people are of the same mind set about spamming. Facebook is a social networking site, so why don’t we socialize, develop relationships, get to know each other and build trust. When you have developed trust then the opportunity to present your business will appear. Every person I have developed a relationship with on Facebook has always eventually asked, “What do you do?” That is when I begin talking about my business. It works every time. I’m willing to bet that your up line would be appalled if you told them they shouldn’t blast the business to every contact on the net. I’m sure you were told to talk to everyone about your awesome product and opportunity. When you market off line that technique may work for you but it will not work on Facebook.

#2 Bring value to the on line community. Posting informative material or your favorite quotes will work much better than blasting your business proposition 20 times a day. Create some content that will help others build their on line business. You will then to look like a leader and not look like a spammer. I’m talking from experience. It didn’t take me long to learn I wasn’t getting any results by posting my business opportunity 20 times a day. I then learned what Attraction Marketing was all about. Attraction Marketing taught me that I had to give value to others and then they would listen to what I had to say. After I developed trust with a person then I could present my opportunity. Traditional marketing doesn’t work very well in the social web 2.0 era.

#3 Target your prospects. To build your business using social sites you should go after other mlm people. Are you asking why you should go after other mlm people? We all know that this is a tough business and that 97% will quit within the first year. This is where your value, as a leader, will work in your favor. What if you were to show one of these people how to acquire some leads. You have given them more than their up line ever did. When you help someone acquire some leads for their business they will see you as someone to follow. When you show someone how to get what they want, guess who their new leader will be? YOU! This means the more value you provide them the more they see you as a leader and will do whatever you want them to do. Primarily join YOUR opportunity!

#4 Join groups. Look for groups that are formed for network marketing. You can find these groups by using the search function on Facebook. Search for mlm companies by name. Once you find the group you want to connect with, hit the “See all members” button. A window will open and you will see all the members in that group. Click the “Add as a friend” link and another window will open. In the new window you will see a “Send a personal message” link. Click the link and a message box will open. Write a note then click the send message link. I always get a better response rate when I send a short note. Check out their profile before you send the message. Find something in the profile to complement them on. You don’t have to send an essay. Just something short like, “I see your involved with company xyz. What a great company. Want to connect, and share ideas on how to build our business?” Never present your opportunity in the friend request. I try to connect with 50 people a day using this method. You have just discovered a 4 step program that has brought me daily leads from Facebook.

Take these techniques and use them to help build your business on line.

About the Author

John Stone is an expert at driving traffic to any website or keyword he chooses. He can show you how to get top ranking in google just like the article you are reading. John’s Blog Facebook Training