How to better leverage the #1 business development tool for professionals

Rachel Foster is a friend of Oomph's and one of the best copywriters we have met and worked with! Given the important place that referrals play in the marketing mix for professionals, we invited Rachel to write a column on the topic. Enjoy!

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As a professional service provider, you understand the importance of finding a steady stream of clients. You’ve probably tried many marketing strategies – paying for expensive advertising, spending months developing a website and even going outside your comfort zone to make cold calls.

However, you might not be spending enough time developing your most effective business development tool – a referral marketing program. According to RainToday.com, 79% of buyers rely on referrals from colleagues and peers when selecting a professional service provider. This means you need referral partners who are willing to “talk up” your services to their networks. The benefits of creating a referral marketing system include:

• Reduced marketing costs. When your best clients come from referrals, you may not need to spend much on other forms of marketing.

• Higher quality leads. After someone hears a glowing review about you from a friend or colleague, they may come to you ready to buy. Research has proven that up to 60% of referred leads will become clients.

• Increased revenue. Referred clients tend to spend more than non-referred clients. This is because people refer others who are serious about buying, not simply price shopping.

Here are four ways you can find referral partners:

• Ask your clients. Satisfied clients can be your #1 source of referrals. The best time to ask for a referral is after a client pays you a compliment for a job well done.

• Partner with other professionals. One of the most effective ways to generate referrals is to partner with other professionals who also serve your target market. For example, an interior designer and an architect or a lawyer and an accountant have the potential to refer many clients to each other.

If you’d like more referral partners, make a list of professionals you can partner with and set out to establish a relationship with them. Coffee or lunch meetings are a great first step. When setting up meetings, mention you’d like to get together so you can learn more about each other’s practices and explore opportunities for mutual referrals.

• Join a referral group. Referral networking groups, such as Business Networking International (BNI), can be a very effective way to generate leads for your practice. In 2009, BNI Canada’s 5,400 members referred $69 million in business to each other – that’s an average of $12,778 per member. When you join a referral group, you should take on a volunteer role and schedule one-on-one meetings with the other members. The more you get involved, the greater your chances of success.

• Give referrals. The people who receive the most referrals are often generous about giving referrals. You might think you don’t have time to find referrals for yourself, let alone for others. Here’s an easy way to refer business to your network: when you hear someone complain about something, ask them how they’re fixing the problem. If they don’t have a good answer, offer to refer them to someone in your network who can help.

Now that you know how to find referral partners, try this exercise: aim to find one new referral partner and give one referral every week for the next month. You may be surprised by how fast your business grows.

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Strengthen Your Referral Program with Powerful Testimonials

Special Offer for Oomph Group Blog Readers and Newsletter Subscribers

As a professional service provider, you know testimonials can be a key part of your referral marketing system. When written correctly, they provide social proof of your credibility and make it easy for others to refer you business.

However, you might find it difficult to gather the strong recommendations that earn a potential client’s trust.
Perhaps this is because:

• You’re too busy with your day-to-day activities to find time to collect testimonials.

• You feel uncomfortable asking your clients for praise.

• You’ve requested testimonials in the past, but they have either never appeared or don’t convey the full benefits of working with you.

To get great testimonials, you need a system that not only makes it easy for your clients to provide recommendations, but also takes the pressure off you. Click here to discover a proven system for getting compelling testimonials that motivate customers to do business with you. Plus, learn about a special offer for readers of The Oomph Group’s blog and newsletter.

Rachel Foster is an award-winning business-to-business (B2B) copywriter who helps technology marketers and professional service providers generate more leads and sales. Visit www.freshperspectivewriting.com to download free B2B marketing reports and subscribe to the monthly Fresh Marketing e-newsletter.