3 Inexpensive Ways to Grow Your Business

Everyone is watching their budget these days, thinking about how we can grow our business in the most inexpensive ways. The answer is to receive more referrals. The fastest, easiest, and most inexpensive way for you to earn a lot more money, work less, and enjoy your life is to get more referrals. So, why aren’t you getting more consistent referrals from your clients and colleagues? You probably already provide excellent customer service, offer a great product or service, and have a good reputation. The key is to leverage all of the aforementioned and employ the following three inexpensive ways to grow your business:

1) Ask for referrals. If you aren’t, it is time to get your “Ask in Gear.” When is the best time to ask for a referral? It’s when your customer says, “Thank you.” Ask that satisfied client, “Who do you know that would benefit from my product or service?” Now wait and allow some time for him/her to think about whom that will be. Ask for an introduction with a phone call… and ask them to call right then. If it’s a neighbor, ask to walk over there for the introduction in person. Asking may seem a bit awkward at first, but you’ll get over it when the referrals start rolling in.

2) Offer clients a referral incentive. If it has been a while since you have connected with your previous clients, it is time to remind them and re-energize them to refer you with your referral incentive plan. If you don’t have a plan, then it is time to create one. Offer additional products/services at a discount or for free, or some other incentive that will motivate them to remember and refer you.

3) Establish a referral partnership. Having a referral partner is an excellent method for getting referrals. A referral partner knows your business well and can be relied upon to send you a steady stream of high-quality referrals. As a partner, you reciprocate and send your partner quality leads as well.

Getting referrals is a lot like working out; you need to make a plan, be committed, and then go do it over and over again. When you experience the desired results, you’ll know it has been worth it. Remember, referrals are the least expensive and most effective way to grow your business.

Laura Bruno is a trainer, speaker, referral expert, and a Certified Professional Behavioral Analyst. She is the owner of the Referral Institute SoCal. She can be reached at 951-699-2558 or visit http://www.referralinstitutesocal.com/