Are You Referral Ready?

Surely there is something beneficial about being in relationship with you that goes beyond a financial or business transaction. Your referral sources place value in those benefits. They accumulate over time and contribute to the depth and overall health of the relationship. As a result of the benefits you offer your referral sources, how motivated are they to refer you more business?

Reduced to transactional terms, a referral relationship can still serve both parties. But the human factor is what makes me choose you over another referral partner, and you can figure every one of your referral sources has the option to feed another business besides yours. It is their relationship with YOU that makes the difference. Strengthen the relationship and the rest happens naturally.

How you can show your referral sources–the people who are already inclined to refer business to you–the benefits of being in relationship with you? Could you introduce people in their company to influential people in your network? Could you help them secure a new vendor? Could you help them close a deal based on your recommendation or testimonial? Could you attend a trade show or function they were hosting? Try to come up with things you can do for each referral source that adds value to the relationship itself.

Sales people are attracted to compensation systems that offer both cash and benefits. Your referral sources are your sales people. They value their relationship with you, and the benefits of that extend beyond the last referral or the next referral. Perhaps in between is your best opportunity to demonstrate to your referral sources the real benefits of working so diligently on your behalf.