By: Dan Dougherty
In my first post in this series we spoke about the documented facts surrounding personal referrals. Simply, they are the most effective form of advertising for your business. In my next post, I laid out the four reasons why referrals traditionally have not scaled. Now, I want to tell you about a new piece of technology that changes the game. Referron is the key that opens the door to scalable referrals for your business. To help me explain first allow me to define the three players in a typical business referral:
- The Seeker - a person or business seeking to secure a commercial product or service
- The Connector - the maven in your community that Seekers turn to for advice. The source of the valuable referral.
- The Provider - the business that can best satisfy the Seeker as seen by the Connector.
Now let me reiterate the four major reason why referrals don’t scale and introduce a mobile platform Referron a that solves for these problems and enable referrals to scale for your business like never before.
- The Dropped Ball. When a Seeker requests a reference from a Connector, the Connector must follow up at a later time to make a phone call, send an email or speak to the business Provider in person about the opportunity. Unfortunately this delay compromises close rates and sometimes means the referral never happens. With Referron the referral can be made on the spot and in front of the Seeker. Gone is the need to create and execute on a follow up action item. Introductions are flawless and meetings are more likely to occur. More meetings leads to more closed deals.
- The Single Connect. Often a Connector gives the Seeker information on the Provider but does NOT double connect back to the Provider with the contact details of the Seeker. There is no way for the Provider to track referrals they don’t realize occurred. With Referron both parties are introduced in a polished manner with a professional email that highlights all the information needed to move discussions forward. Referron delivers the double connect, the Provider too is given a referral with all the key contact information and a warm intro on his\her services. This leads to more discussions, which equals more new business accounts.
- Tracking. It can be cumbersome for a Business Provider to keep track of all referrals via traditional methods. Emails are lost in the inbox, slips can get misplaced, business cards are filed and forgotten and phone messages are separate all together. Receiving your referrals via Referron means you can store and track your referrals in one location securely in the cloud. Plus the leads all roll up to your group administrator to make preparing for meetings easier.
- Missed Thank You’s. Often a Provider never knows a referral was made (Problem #2 – Single Connect) and as a result after the business is closed they don’t properly thank the Connector. Sometimes they are aware who gave the referral but for one reason or another simply don’t follow up with common courtesy, a thank you, to inspire the Connector to make more referrals. Referron makes Thank You’s seamless and consistent by tracking and recognizing success.
Referron is a platform that is scalable for your business needs. It combines mobile technology (Free on the App Store or Google Play) with an optional fee based business network web portal. Like any technology designed for a business it must be coupled with good people and strong processes. Referron by itself is a cool tool but connected to your network and coordinated with a business plan, it can be the key to unlock a stream of referrals to feed the top of your sales funnel. In my next post I will explain the best practices on creating a referral engine for your business by combining people, process and technology at a cost that will easily pay for itself with one or two closed referrals.