Business Growth: How to Grow your Business through Referrals

Referrals are hot leads that fuel sustained business growth. In a referral situation, the prospect’s trust (of your referring customer) transfers to you, and makes selling more likely to succeed. Luckily, referrals can be simple to get–if you know how to gather them.

How to Get Valuable Referrals Daily

• Set a daily goal: Keep new referrals coming by making them a daily priority in your business. Ask at least once per day (set aside at least 15 minutes to pursue referrals daily. This way, it can become a habit and accelerate your business growth.

• Consider your options for referrals: Brainstorm all the categories of people you can approach. You can ask friends and family, good customers, and even prospects. You’ll ask if they know someone who might need your services/products. If you’ve approached a prospect in a friendly manner, even if they don’t need your services today, they might be inclined to refer you to someone who does.

• Request an intro: This may feel more natural, more specific, and simpler, than asking for a “referral”. Phrase your question something like, “do you know someone else who might need my product? Would you introduce us?” If it feels natural in the setting, you could ask, “Karen, would you introduce me to a couple of people from your network?” Being specific about what you want makes granting the request easier for the other individual.

• Entertain VIPS: Invite customers to a special event. Ask referral sources, “who else might like an invitation?” Encourage invitees to bring interested guests or colleagues.

• Become a resource: When hosting your event, (or any other times when you meet prospects) always communicate valuable industry news or useful information that attendees will appreciate learning. Showcase your expertise. Introduce potential clients to current customers in attendance. In the moment, clients will be likely to tell prospects good things about your business. Later, after gaining new information from an expert insider (you), meeting new people, and enjoying your event, attendees will be inspired to refer even more prospects to your business. You will have created some passionate evangelists for your company.

For more business growth strategies, contact the experts at Artemis Commercial Capital, today.

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