Have you ever asked yourself, "Why am I not getting any referrals?" I know I have in the past. There are ways to increase the likelihood of good referrals when networking.
As a CPA, I have found that it is important to get out and meet with people. These meeting offer opportunities to become known and to better know other business owners. A onetime meeting might lead to a business relationship, but it is far more likely that meeting regularly in a single group and getting to know individuals outside of these groups will lead to a referral.
1) Learn how to give referrals to those you meet.
Getting to know the people you meet with provides greater opportunities to give and receive referrals. I like to take some time to meet people at their place of business. The purpose is to learn as much as I can about the services and products that they offer. I like going to their place of business because I can learn lot about them and be prompted by things I see when asking them questions.
If meeting at their business is not possible then lunch or coffee can be a good second choice. Again the purpose is getting to know as much as possible about them. The more I know the better the chance to get referrals for them.
When you get to know someone, it is possible to trust them with your leads. You do a service for both your client/customer and your contact. This often can open up many opportunities for future referrals for you. Trust is an important element in the process, but it starts with getting to know someone.
2) Develop a message that shows you can add value.
When asked what do you do? Just telling people the line of business is not going to be that helpful for you or them. If you take time to describe the benefits of your service or product in a short meaningful way you can potentially show the value of doing business with you.
A HR consultant might say "I help businesses identify ways to retain and keep quality employees. I also can match you with employee benefits that can meet your needs and budget" This quite likely will create more interest than,"Hi, I am a HR consultant."
I am coming to find that this elevator speech or message is important enough that a lot of thought should be put into it and it should be practiced. The purpose is to spark an interest, so that you can further discuss your product or service. Always keep in mind how your service or product differs from others and how these can benefit the one you are talking to.
3) Become an expert in your area of expertise.
It is not enough these days to just have a degree or certification. Many others may have similar degrees and certifications so somehow you still need to stand out. Niche marketing can help in this regard, but may not provide a large enough audience.
Writing blogs, articles and books can help establish your expertise. Establishing your expertise can lead to more referrals at networking events. It is another way that people can get to know more about you and build the trust needed to refer business.
Establishing your expertise in a specific area can also open the door to speaking engagements. Many networking events offer opportunities to speak and share your expertise as well. As a speaker one has a far greater chance of becoming known and trusted. This will lead to more referrals over time.
4) Target networking groups that are most likely to have your target audience in attendance.
There are many networking opportunities out there. It is important to identify those groups and events that will provide the best opportunities. I look for potential contacts to give referrals to as well as to receive them from.
When attending a onetime event or regular meeting, I look at who is going to be there. I am looking for potential power partners those I can give referrals to as well as those that might give referrals to me.
There are special organizations that get together regularly and might be ideal opportunities for networking. Some of these groups may allow affiliated vendors or service providers to attend. It may be necessary to pay for membership, but if the membership has those that might be good power partners it can be well worth the expense. You will want to keep in mind the message you give them. How you can provide value to the group.
If you can prove your value, provide opportunities for others to get to know and trust you - networking will prove to be of great value to your business.
