Secrets to Referral Marketing

There are many different strategies you can use to build your business through referral marketing.  The best ones that I know of are listed here:

Cross Marketing: 

This is a form of marketing that you can use with another company that is in business with the same clients you use, but in a non-competing business.  For instance you own an electrical company and would like to expand that company.  By getting the lists of the clients of plumbing companies (for example) you can mail to their clients.  In doing so you will expand your business.  The reason I call this cross marketing is because you are trading mailing lists with other companies. 

JV Marketing

If you do not have a mailing list yet, or you want to work with a bunch of different companies, you might want to pay for the list.  To pay for the list you can pay by the name or pay by the sale.  If you pay by the sale you will have no out of pocket money except for the mailing.  This will cost you more, but with much less risk.  And those that become your clients you will be able to market to them and get referrals from them as well.  This has enormous power.

Marketing to your existing client base.

This is the best way to get real referrals.  The referrals you get from these people will be willing to pay you more then any other.  They will instantly trust you, almost to the point of which your own clients trust you.  There are many ways to ask for referrals from your existing clients.  One way is to write a newsletter every month and send that out to your client list.  The newsletter should have a lot of good information in it, and somewhere in the newsletter you should ask for referrals.   

Another way to market to your clients is by sending them some form of greeting card on a regular basis.  I remember once talking with a friend of mine that was moving offices.  She was upset because she had to send 250 cards to her clients about the change of address.  I told her that even though this was going to take 2-3 hours that she would more then likely get some of those clients calling her and say that they have been meaning to call and the card was the push they needed.  You know what? She did over $5K in new business because of those 2-3 hours of work.  And she wasn't even asking for any more business or for any referrals.  It is just common sense that if you are in contact with your clients they will use you more.

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