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/

The I's Have It: Inform Referral Sources

One of the things that happens when people establish a referral network is that they don’t receive enough referrals. These people often believe that others aren’t doing their job. Sorry, but the truth is that if your referral network is not working the way you want or expect it to, it's your responsibility.

Have you informed people in your network about all of the products or services you have available? Have you provided them with your business cards, brochures, and other information? What are you doing to compel them to refer you? Your referral sources need to be informed so that they may educate those in their networks and refer the perfect prospects for your business.

Now, here’s the curve ball… Referral marketing is a two-way street. Do you make sure your referral sources know that you are interested in what they do, rather than just worry about how interested they are in what you do? Are you helping them in the same way you want them to help you? Are you really? Are you genuinely interested in their business? Do you know how to properly refer them? Are you referring them? Are you following up with each other on a regular basis?

It is your responsibility to inform your referral sources on what a good referral is for you and to make sure that you are trained on how to refer them. Responsibility is something people are sometimes reluctant to take. You're responsible for the actions other people take on your behalf. It's up to you to choose the right people, to set the tone for your business, to educate your referral sources about what you do, to demonstrate competence and integrity, and to maintain the effectiveness and strength of your referral relationships.

Only those individuals who recognize that they have to take responsibility are the ones who make this process work for them. What are you doing to properly inform and train your referral sources?

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/