How can referral marketing help a business to grow?
Referral marketing uses the power of word-of-mouth to generate qualified enquiries between a group of 20-25 people. Everyone who attends the group has a vested interest in supporting each other and the process works by multiplying your ‘sales team’ to include the members of a group.
Team members will meet regularly and follow a semi-structured agenda. Each member will have the chance to deliver a minute message, sharing information about their company, products and services and what makes a good enquiry. This is to educate everyone in the room to look out for opportunities – signs, whistles and bells – to recommend each other.
There will be other elements to the meeting, such as segments of open networking, a couple of longer presentations from members and refreshments – either drinks or food and drink depending on the meeting time.
A good way to rate the performance of a group is the contribution section. This is where ‘inputs’ from members are shared, which include referrals and opportunities passed and appreciation for the support given.