Referrals are the Way to Go

Many of you will likely agree from personal experience that referrals are the most efficient means of producing new sales.

One expert found that within the financial industry, one sale is gained for every 3.3 referrals. In comparison, it takes 10 seminar attendees, 50 cold calls or 60 letters to generate one sale.

Furthermore, according to Paul and Sarah Edwards (authors of Getting Business to Come to You), up to 45 percent of most service businesses are chosen by customers based on the recommendations of others.

So how does a business get more referrals? Undertake an intentional effort to get the right people talking about your company and your products and services.

Chicago-based Gaebler Ventures recommends these five steps when developing a referral program:

1. Select the best clients
2. Ask them
3. Provide promotional tools
4. Develop rewards
5. Track results

Postcards are a great way to communicate with customers and offer four advantages over the traditional letter/envelope: 1. lower in cost; 2. don’t require receivers to open an envelope; 3. force sender to provide concise message; and 4. faster to print.

So what are some great uses for postcards? Here are some ideas, especially for targeting your best clients.

1. Pre-print with your logo, address, slogan and/or picture, add meaningful comments and mail while on a trip, business or personal, to stay in “front” of your clients.
2. Utilize for important announcements including new services or products, new employees or location, revised hours, upcoming meetings or seminars, or new strategic alliances.
3. Pre-print with important industry facts or new regulations impacting your business, industry or services.
4. Provide notification of upcoming special sale or discount, or use as a coupon.
5. Use as thank you, reminder of their next appointment or need to schedule an appointment.
6. Employ to solicit comments about an idea, or even a resume, for personal use.

An important part of creating career or business success is networking. Experts recommend planning for activities that help increase your visibility and build your credibility.

Here are a few useful hints to start employing today, if you aren’t already!

1. Make special effort to remember names – we all like to hear our name said out aloud. Occasionally repeat someone else’s name when talking to them, and strive to introduce them to at least one other person.
2. Focus on your talents more than your title or company. It should be easy for you to talk about what you do well and what you need.
3. Come prepared with a list of topics you really want to mention and to whom you want to speak. The purpose of these topics could demonstrate you’re an expert, teach others to trust you, and/or lead you to resources and opportunities.
4. Listen so you’ll learn what your contacts need. Apply the old rule: you have two ears and one mouth, so use proportionately.
5. Display an upbeat attitude when entering a networking event.