Even though you know how vital marketing it is to the long-term success of your business, making time for marketing still always seems to be a struggle.
So here’s something that you can easily set up, and that can quickly help you to hit your new business targets, as you boost the number of referrals you’re receiving.
Activate your strategic partner network
While many brokers with a referral plan focus the bulk of their efforts on existing customers, the real untapped opportunity often resides with your strategic partners.
Think about the various businesses you work with; these companies are not competitive with you, have a similar target audience to yours, with clients who trust their opinion and recommendation.
This presents you and them with a great reciprocal referral opportunity. These friendly companies have the potential to introduce you to hundreds of prospects at any given time.
Five actions to take now
- Introduce the idea to your partner network of setting up a referral group. Gauge their interest and set up a meeting.
- Use this Referral Programme concept map to help decide how the reciprocal referral recommendation system will work.
- Brainstorm what will motivate your combined client base to act.
- Decide on the best way to launch the programme to each client segment. Request that everyone adds a preferred partner link to their website.
- Agree what is needed to maintain referral momentum with your referral champions.
Ultimately the ideal outcome will be to use this combined programme as a way to add value to the relationship that all of you have with your customers – and generate new business via recommendations at the same time.