Raising and Renewing Business Through Referrals
Raising and Renewing Business Through Referrals
By: J. Glenn Ebersole, Jr., Chief Executive of J. G. Ebersole Associates and The Renaissance Group™
We observe today’s businesses trying to regain, retain and raise customers and prospects using many different techniques. And we also observe that businesses and consumers are inundated with marketing and sales messages, which cause great skepticism. So what can we do? How can we use strategic thinking to come up with an alternative approach?
It is said that customers choose almost 50% of service-providing business due to a recommendation. Furthermore, a study by Opinion Research Corporation International (study originally commissioned by “priceline.com” in May, 1999) appears to corroborate that 3rd party referrals are fast becoming an essential part of doing business inline.
Referral marketing has many advantages. It establishes credibility, eliminates distrust, expands business in a very cost-effective and time-efficient manner and is an orderly process. Have I convinced you of the value of referral marketing at this point? If yes, allow me to share some solid advice to ensure your referral marketing will achieve the results you want.
Define your referral target market. This could be customers, but it could also be a referral network, other business owners, friends, et al.
Identify and describe your ideal target client. You need to describe what your ideal client looks like.
Develop a succinct and clear message for people to use when they pass on your name to prospects.
Explain the benefits of referring you to those who are your referrer and develop a comfort level with them that you will be very sensitive to and respectful of those who are referred to you.
Develop and implement a rewards strategy for the referrer.
Develop a system to follow-up on your referrals, including a strategy to convert them to clients.
Develop a communication system to follow-up with your referrers also. You must keep in touch with them.
Referral marketing is a real opportunity to grow your business. If you would like to find out more about how you and your business can benefit from referrals, please contact Glenn Ebersole t jgeprman@aol.com today so we can get you on your way to raising and renewing business through referrals.
Raising and Renewing Business Through Referrals - To learn more about this author, visit Glenn Ebersole's Website.
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Raising and Renewing Business Through Referrals
By: J. Glenn Ebersole, Jr., Chief Executive of J. G. Ebersole Associates and The Renaissance Group™
We observe today’s businesses trying to regain, retain and raise customers and prospects using many different techniques. And we also observe that businesses and consumers are inundated with marketing and sales messages, which cause great skepticism. So what can we do? How can we use strategic thinking to come up with an alternative approach?
It is said that customers choose almost 50% of service-providing business due to a recommendation. Furthermore, a study by Opinion Research Corporation International (study originally commissioned by “priceline.com” in May, 1999) appears to corroborate that 3rd party referrals are fast becoming an essential part of doing business inline.
Referral marketing has many advantages. It establishes credibility, eliminates distrust, expands business in a very cost-effective and time-efficient manner and is an orderly process. Have I convinced you of the value of referral marketing at this point? If yes, allow me to share some solid advice to ensure your referral marketing will achieve the results you want.
Define your referral target market. This could be customers, but it could also be a referral network, other business owners, friends, et al.
Identify and describe your ideal target client. You need to describe what your ideal client looks like.
Develop a succinct and clear message for people to use when they pass on your name to prospects.
Explain the benefits of referring you to those who are your referrer and develop a comfort level with them that you will be very sensitive to and respectful of those who are referred to you.
Develop and implement a rewards strategy for the referrer.
Develop a system to follow-up on your referrals, including a strategy to convert them to clients.
Develop a communication system to follow-up with your referrers also. You must keep in touch with them.
Referral marketing is a real opportunity to grow your business. If you would like to find out more about how you and your business can benefit from referrals, please contact Glenn Ebersole t jgeprman@aol.com today so we can get you on your way to raising and renewing business through referrals.
Raising and Renewing Business Through Referrals - To learn more about this author, visit Glenn Ebersole's Website.
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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