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Need More Referrals? Try Tiered Appreciation

Those who provide referrals should be thanked differently than those who provide leads. Thank everyone the same way and you overlook the superstars who could bring you more business.

Common sense right?

Yet most entrepreneurs send thank emails, or notes to everyone for everything and believe it’s effective.

Well, it’s not.

In fact, by showing your appreciation this way you’re hack your business and leaving money on the table.
Let me explain why.

There’s a difference between word of mouth,  leads, introductions, and referrals. They don’t have the same value.
Although each action markets your business, they don’t all motivate prospects to buy.

For instance, word of mouth buzz creates visibility. It doesn’t take much effort for your network to mention your business to others who need your solution. There’s little to no motivation for the prospect to take action.

A lead is contact information of someone who needs your solution. The only connection you have with the lead is the person who gave you their information. Name dropping might get you dedicated time (hopefully) but there’s no guarantee you’ll get the sale. In addition, you go through the same process as a cold lead.

An introduction puts you a step closer to a sale. When you’re introduced to a prospect trust is transferred to you and the sales cycle is shortened.

On the other hand, those who send business your way sell the prospect on why they need your services, what they like about you, and provides your contact information. All the upfront work is done for you. The prospect shows up wanting your services so there’s little work required on your behalf to close the sale.

All you need to do is to not screw it up!

True referral sources should be appreciated as the rock stars they are. They are literally your sales force and should be treated as such.
Tiered appreciation identifies the superstars in your network and who to give more attention to. Give your rock stars small gifts to show your appreciation and they’ll continue to refer you. Need help with gift ideas? Head over to the appreciation gift page.

Looking for an innovative way to improve your business? Click here to learn more.
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Business Networking: How To Become A Premier Vendor

Have you ever attended a networking event that was full of card pushers? You know the ones who pitch to you right away, stuff their business card in your hand, and quickly move on to their next target? They have no interest in connecting because all about them.

If you ever been to a networking event, chances are, you encountered someone like this or you might be the over zealous networker (yes, I was one).

Many professionals have written off networking groups and believe it’s a waste of time because of lack of new business. Yet, there’s great value in meeting like-minded professionals. With the right mindset and strategy, you can network your way to premier vendor status with my top 3 suggestions below.

Why do you network?

Most professionals attend networking events to attract new clients and rub elbows with influencers. We all want to grow our business and lead generation is a simple solution. Networking isn’t about pitching on the first encounter. It’s about connecting to other people’s network.  So it’s not the person you meet who you sell to, it’s their network. In addition, networking groups can provide more than leads when you find the right group. It can provide support, a safe place to experiment, and a mastermind.

Yes, a one stop shop!

I found a network group I enjoy. It’s a divers group of entrepreneurs from all walks of life, there’s plenty of seasoned experts, and everyone’s friendly. I always gain valuable information and connections when I attend.

As a result of attending this group, my business is growing, I’ve gained life long friendships, I’m collaborating with other entrepreneurs on a few projects, and I’ve strengthened a number of skillsets.

It’s well worth the investment to find the right network.

What can you do for the network?

The quickest way to become known, liked, and trusted in a networking group is to serve. If you focus on helping others solve their problems without asking for anything in return, you will become top of mind. Volunteering, donating refreshments, or taking attendance can  work to your favor.

Networking to build relationships

Networking isn’t the best way to feed your business overnight because relationships take time to build. Ask around and look for a network group you can consistently attend. 

If you’re looking for a quality network group, use the Meetup app to start your search. I highly recommend attending Wisconsin Business Owners meeting held every fourth Friday of the month.

What networking groups do you recommend? Are paid networking meetings better than free ones? We want to hear from you!


                                                                         THANKS FOR READING MY BLOG!
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