The company that grows without advertising
Have you ever noticed the company that never advertises, but continues to grow? Some companies achieve so much without spending a penny on advertising. But how do they do it? What’s the trick?
LinkedIn References
The answer to growing your business without a huge advertising budget is referrals. Some companies build their customer base completely through referrals. We’ve compiled a list of some of the most useful tricks to grow your business through referrals and we’re starting with LinkedIn because it’s the most successful place on the internet to grow a referral base.
LinkedIn: professional reference source
The nerve center of professional networking is LinkedIn. There is no magazine ad that can replace the power of connections gained through LinkedIn. Profiles on many social networking sites are useful, but LinkedIn brings success on and off by serving as a platform for maintaining and building business relationships. By building a strong LinkedIn profile, you build authenticity. By completing your LinkedIn profile, you provide an authoritative resource on your career. Helps you control your identity online, including on Google. You can control the top results people see on Google when they search by name. In most cases, your LinkedIn profile will appear at the top of these search results. So for this reason alone, you should have a 100% complete profile on LinkedIn.
That’s how…
A 100% complete profile on LinkedIn includes:
- an executive summary and a set of skills
- has photo
- educational history
- three recent positions
- three recommendations from your contacts
To get started, click “Edit Profile” from LinkedIn.
Be more referable.
It sounds simple enough, but not everyone does this. And remember, no one wants to refer their customers to a company that isn’t responsive. it looks bad. So get to work on the customer experience and transaction that your company delivers. Always be extremely responsive to your customers, even if you don’t have the answer or solution, respond to the customer with “We’re on it” or “We’re looking into this issue and will keep you informed of our progress toward a resolution.” . A quick response to a customer’s question is a bold statement that your company is eager to please. Customers appreciate that and will tell their friends or family about the pleasant experience they had with your business.
Let it be an expectation.
Make it an expectation that every one of your clients is a referral source. Start talking about it in the lead conversion process, when you’re selling to potential customers. Introduce the idea that “Within 90 days,” for example, “you’ll be so happy we’ll ask you to recommend three people who need the same positive results from our company.” It’s a great marketing message that “You’re going to be excited.”
Make it a habit to participate in LinkedIn groups and discussions.
When you join a LinkedIn group, be sure to specify that you want to receive email from the group. Then, every day, scan those emails, and if one of the current discussions is relevant to your skill set, jump in. Keep your comments short and professional. When writing your feedback, make it a habit to regularly think in terms of getting more referrals. Set goals for yourself each week and keep track of the number of referrals you get.
Be specific when asking for a reference.
Be specific when asking for a reference. And always remember to ask for references. Don’t be shy about it. A good example is: “Our best reference is a small business owner who…” and ask your clients for three references “…so we can turn them into happy customers.”
Be consistent when asking for references.
Make every client meeting an opportunity to collect referrals, but don’t be too pushy or too obvious.
Offer commissions or referral fees.
Have you ever seen companies that have a page on their site, in a highly visible position, that says “Refer a friend and get $100”? Well it works! Educate customers about your service and how you can help other businesses. And don’t forget to mention that when you refer customers to your business, they get paid a referral fee. It is a win-win for both parties. Reward your referral sources. Keep them informed of the progress and satisfaction of the person they referred.
Happy customers are the best references.
Ideal referrals come from satisfied customers. So get in the habit of overdelivering and your referral base will grow.
Follow up after a sale.
Follow up immediately after meeting a new referral. Ask that reference to meet in person for coffee or write a cover letter to start the relationship.
Most salespeople stop at the end of the sales process. They go through the same cycle of lead, present, close, follow up. That sales strategy has worked in the past, but to build your company, you need to build relationships and become known as an expert in your field. You need to be known as a person of value. If your customers value the knowledge and experience you offer them, then it will be easier for you to maintain a relationship after the sale is complete.
Be available
By being available, you never know when someone will be ready to send you referrals. Remember, a referral is a commitment. It’s a partnership and if you keep your customers happy, your referral base will grow. It costs ten times more to get a new customer than it does to get customers from existing customers. So take advantage of the assets of your customer base and grow your business.
Don’t forget a thank you note.
Always thank someone for sending you a recommendation. A timely received “thank you” note goes a long way. If someone sends you a referral on Monday, make sure they have the “thank you” note on their desk by Friday. Don’t wait too long or your thank you note will lose its effectiveness.