Build Your Credibility by Inviting

Here is an idea to enhance your contact with prospective referral sources and build your credibility with them:
Invite those potential referral partners to an event that you are attending, hosting or participating in, either as a featured guest, a panel speaker, award recipient, or as an exhibitor.

I think you are missing out on a great opportunity to keep prospective referral sources informed of the activities you’re involved in if you’re not inviting them to the events. Especially if it is an event where you will be sharing your expertise or where you are being recognized for an achievement, this strategy contributes to building your credibility and your image as a successful and knowledgeable professional. This is also a great way to connect possible referral partners with other people in your network, helping to transform strictly business relationships into friendships.

Why Credibility is Important

A key concept in referral marketing is mutually beneficial relationships, and those types of relationships don’t just happen overnight. They must be cultivated and nurtured. As they grow and develop, all relationships evolve through three phases: Visibility, Credibility, and Profitability. This is the VCP Process®. It is a useful tool to assess the status of a business relationship and determine where that relationship is in the process of getting referrals. 

Visibility is the phase where people know who you are and what you do.
Credibility is the phase where people know who you are, what you do, AND they know you’re good at it.
Profitability is the phase where people know who you are and what you do. They know you’re good at it, AND they are willing to refer business to you on an ongoing, reciprocal basis.

As you can see, credibility is needed to be able to reach profitability in your business relationships.

Tips to Help You Get Started

If you want to begin inviting prospective referral sources to events and you’re unsure whom to invite or how to invite them, here are some tips to get started:

• Make a list of the events you’ll be attending in the next two months.
• Make a list of people you may want to invite to each of those events.
• Consider what benefits your prospective guests will receive from attending – perhaps an opportunity to meet someone they admire, to be entertained, or to be recognized.
• Call or write to each person with an invitation to the event.
    > Explain the reason for the invitation (you’re speaking or receiving an award).
    > Send the invitation with plenty of lead time, at least ten days before the date.
• Follow up with a call a few days before the event to confirm if they are attending.
• Pay your guest’s admission fee for the event if there is one.
• When the event allows, encourage your guests to invite guests of their own.
• It is okay to invite some people whom you do not expect to attend. Remember, this is a way to keep your referral sources informed of what you are doing.

Make it your goal to invite someone to each event that you plan to attend. It is a good way to strengthen relationships and build your credibility. You may even find that you enjoy the event more by having a guest there with you.