Sometimes Simple Recognition Is the Best Reward

In business networking, many referral sources feel it is more important to be recognized as someone who can connect others to the goods and services provided by skilled, highly competent, trustworthy people rather than receiving a finder’s fee.

Over the years I have witnessed time and time again that most people will do more for simple recognition than for money. However, for those who do expect a finder’s fee, it is good to know that information in advance if you want to keep the relationship healthy, active and profitable.

You will find that there are different motivators which will inspire different members of your referral team. This is a matter in which understanding the various behavioral styles of people can be helpful. How do you learn about your networking partners’ preferences and behavioral styles? Through investing your time to build strong business relationships with them.

Get to Know Your Referral Sources

People who are uncomfortable being in the spotlight, even for accolades and applause, might prefer their rewards to be low-key and private. A simple thank you – verbal or written, or meeting them for coffee or tea near their office and picking up the tab, can be very much appreciated.

Those who like public recognition might prefer seeing their name showcased on your bulletin board or website. Still others may be more highly motivated by a thoughtful, inexpensive gift instead of a cash reward. Perhaps a custom gift basket provided by another member of your network, or a lovely picture book about their favorite travel destination will be more meaningful to them.

You can be creative with both public and private recognition in simple, special ways. Someone once recognized me in a way that kept me wanting to give them more referrals.

My Story

I went to my chiropractor’s office for a routine adjustment. Several weeks before that, I had referred a friend who had been in an accident to the chiropractor. As I walked into the waiting room, my eyes fell on a bulletin board that was displayed prominently on the wall. The bulletin board read, “We would like to thank the following patients for referring someone to us last month.”

There was nothing unusual about this sign. It had been there on each of my previous visits; however, this time my name was posted on it. I took notice and was pleased. I didn’t think any more about it until I returned a month later and saw that my name was no longer on it. I instantly thought, Who else can I refer to the doctor so that my name will be put back on the board?

That simple recognition motivated me to intentionally look for opportunities to refer more people to the chiropractor’s office. (For the record, my name was consistently on that board for many of the following years.)

The Gratitude Effect

I’ve talked about this before – gratitude improves attitude. It improves feelings of connection, and it improves results. A few years ago, Harvard Medical School reported that people who express gratitude are more optimistic and feel better about themselves. Paul Zach, a professor at Claremont Graduate University, stated that neuroscience shows that recognition has the largest effect on trust. Especially when it is tangible, unexpected, and personal.

It’s been said that appreciation is a great motivator. Giving recognition to others can make us feel good, too. Saying thank you with simple recognition that is personal and meaningful can go a long way toward consistent referrals from our network.

If you are in the habit of recognizing people as a way of thanking them for the referrals they give to you, I would like to know about your experience. Share what’s worked for you, or maybe something you tried that didn’t work so well.