The Power of Strategic Referral Partners
"It's not what you know, it's who knows you." For a small business, this is an especially valuable insight. Entrepreneurs and solopreneurs have limited time and resources to devote to getting their name in front of potential clients. Marketing and advertising are paramount to getting your name known and the most effective (and least costly) advertising is world-of-mouth.
There are two components to a successful word-of-mouth campaign. The first is an effective message that leads with a strong introduction (elevator speech). A great elevator speech can make the difference between a stifled yawn and a "Tell me more!" response at a networking event.
The second component of a successful word-of-mouth campaign is getting other people to serve as your chorus. One of your primary goals should be to have other people bringing you referrals on a regular basis. The best way to have that happen is to develop strategic partnerships with other industries that share your client base.
Let's say you are a florist and your best clients are brides. Ask yourself who else looks for brides. That would be event planners, caterers, printers of fine stationery, wedding photographers, limousine companies, hotels that host large events and any other business that is part of the bridal industry.
These other industries are your potential Strategic Referral Partners. Because you share the same client base, you can all send each other referrals each time one of you gets a new client. The client wins because they get the services they need. Your Strategic Referral Partners win because they get new business. And you win because you've just become a resource to others and that usually leads to return-of-the-favor business referrals.
Take the time to discover who would be good Strategic Referral Partners for your business. Drop me a line with your thoughts or contact me if you’d like help creating your powerful referral list. It's a wise investment that begins repaying itself immediately.
In a single session I can help you discover where to find your Strategic Referral Partners and what to say to them once you locate them. Call me today at 703.732.9533 or email me directly at Ellen@EllenKaminsky.com.
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