lending business

We all know how important sales and marketing is when it comes to growing your business. However, aggressively chasing after new clients and customers can get exhausting after a while. It feels nice to get some referral business every now and then.

To that note, you may not realize that you can get referrals more often or even build your entire business on referrals. This will save you time and money while in turn boosting your bottom line. Check out these crucial tips to help you get more referrals in your business.

Focus on Building Relationships

If you want to get more referrals in your business it’s important to focus on building trust. The only way to do this is by delivering value and building relationships. If you already know that you have awesome products and services, work to build relationships with other people and grow your network so you can get more referrals.

This may mean going to local conferences or networking events. You can even ask an associate out for coffee or connect online in a Facebook group. Sometimes, people may ask about your business right off the bat. Other times, they may not have any leads for you but if you prioritize building a relationship, they may reach out when the time is right.

Incentivize Current Clients and Customers

One of the easiest ways to get more referrals in your business is to start with your current customers and clients. If you receive praises and positive reviews, ask those people if they can spread the word and refer you to do business with someone else.

You may even want to offer a loyalty rewards program where they can get a coupon or discount for sending you referrals. Big companies do this all the time and it almost always pays off.

Make It Easy

Make it easy to get more referrals by setting your business up a certain way. In addition to having a refer-a-friend program, you can also mention that people can refer in your website copy and content or add something to your email signature that states you’re accepting new clients.

Make it super easy for other people to refer you so they are encouraged to keep doing it.

Go Above and Beyond

This should probably go without saying, but unfortunately, too many businesses don’t exceed expectations or even operate with integrity. Make your business different by over-delivering in terms of value. When you do this, it shows people that you care and that you’re a trustworthy person to do business with.

My husband and I find that it’s super hard to find contractors and other business owners who are honest and do work with integrity. We’ve been burned by a few plumbers, auto mechanics, and – all of whom I really want to be able to refer or come back to for repeat business.

Realize that people may want to tell their friends and network about you but won’t if you do crappy work.

Summary

Building a business based on referrals is definitely possible in today’s day and age. In fact, it could be the perfect way to keep your business running long-term. Realize that you don’t have to bribe for referrals. Make sure you’re always doing your best work because you want to build a good reputation and you never know where your next referral will come from.

 

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Choncé Maddox is a professional writer who recently left her job in the web design industry to produce killer content and manage her own writing business full time. She is passionate about helping entrepreneurs be more productive and create a life they love by doing fulfilling work. On the side, she runs a podcast and blogs about getting out of debt at MyDebtEpiphany.com.

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