Finding Good Referral Sources Is Like Kissing Frogs!

I was speaking with Sarah Owen, the master franchisee of The Referral Institute in the UK, and she told me that she often comes across people who are good at giving to others but don’t always get an equitable return from their relationships. Many people want to know how to discern whether a potential referral source is a good match, and what they can do to increase the likelihood that their time and efforts are being invested in relationships that will harvest a positive return.

Sarah shared a great metaphor that she uses in relation to referral sources that don’t pan out by saying, “When we are looking for a good relationship in life, we sometimes need to kiss some frogs to find our prince. People are searching for a way to avoid those slimy, slippery, drawn-out kisses, which can be prolonged over months–sometimes years–only to discover that the frog never turns into a handsome prince.” So how do people avoid those empty, disappointing referral relationships that turn out to be slimy frogs instead of princes? I think some of the questions below that Sarah and I discussed can definitely help qualify a potential referral source/alliance relationship sooner rather than later.

  • What are your goals?
  • What are your achievements?
  • What are your interests?
  • What do your networks look like?
  • What are your key skills?
  • Do you have time to invest in another relationship?
  • From what you know so far, do you like what I do?

By asking at the outset whether the individual has the resources, motivation and time to invest, and by then providing him or her permission to opt out, the only question left is whether the match is sufficient enough to ensure the relationship can be reciprocal in time. As our conversation came to a close, Sarah said that her clients are finding better results using these simple steps. Then, she smiled and happily reported that they are also kissing fewer frogs!

I love this metaphor. Thanks for sharing it with me, Sarah.

Recognizing Those Who Refer You

Ashley Misner and Galen Metz

This past weekend, I was at a gallery showing for my daughter’s artwork and I overheard a man saying to his wife,  “These paintings would make great thank you gifts for those two interior designers that have been sending so many people my way.”€

(Photo right is of Ashley and Galen Metz, owner of Azo Gallery)

My ears perked up when I heard this and I listened in as he continued laughingly,  “But, then again, giving art as thank-you gifts will probably put me in the poorhouse faster than it would generate more money.”

 

That man had a good point. And no–it wasn’t that buying a truckload of my daughter’s art would make him go broke; because we all know that the investment would be well worth it, even if he did have to sleep in a cardboard box. Okay, all joking aside, his point was that although thank you gifts and referral incentives are certainly an important part of building a business, it’s not always possible to give extravagant gifts that will surely keep us fresh in the minds of those who refer us.

So, what options do we have when it comes to giving good incentives to those who refer us? Well, first of all, we need to remember that incentives can range from simple recognition, such as a thank you, to monetary rewards based on business generated. However, creativity is the key to any good incentive program. Let your contact know when a referral he or she has made comes through and be as creative as you can.

There are many novel ways in which businesspeople can reward those who send them referrals. For example, a female business consultant could send bouquets of flowers to men, a music store owner could send concert tickets or a financial planner could send change purses and money clips.

To make it easier on yourself, get opinions and feedback from others who have significant interest in your success. There are lots of options for referral incentives, and you should consider all that come to mind because the value of recognizing the people who send you business should never be underestimated. A well-thought-out incentive program will add much to your word-of-mouth program.
By the way, you can see Ashley’s art at www.AshleyMisner.com. Sorry, I just had to do it.


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