Does,Your,Referral,Network,Wor business, insurance Does Your Referral Network Work?
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If your company is running a referral network butyou still seem to have a hard time bringing in leads, you may want to reevaluatethe management or elements of your referral plan. Those who have tried to keepan accurate count of how many referrals actually turn into real sales know thatit is definitely not an easy task. You may want to consider keeping a scorecardfor your referral network so you can get an outside look at the inner workingsof your networking plan.Keepinga ScorecardOn your scorecard you should record the source ofeach referral as well as any specifics on product or services purchases thatapply. Record the follow-up plan for each type of product or service, how itwas handled by you or your employees and how it was followed up. Referralpurchases should always be followed up with an appreciative card, phone call,or even an invite to lunch. Once you have made a habit of recording thisinformation you may begin to see patterns emerge. Analyze what methods ofcommunication were the most effective, and then when needed, change thereferral network rules. A referral network isn't designed solely to benefit abusiness owner, but to also benefit anyone involved in the plan. As long as youcontinue to track your activities, it will not be difficult to analyze andmeasure your results.WarmingUp Your ReferralsMany of those participating in referral networkingspend significant allotments of time warming up their referrals, gauging themfor possibly future purchases. However, since it can be difficult to determinewho is and who may not be quite ready to become a customer, a lot of this warmup time and energy can end up being spent on all of the wrong people. This isexactly why having a scorecard system in place to measure actions versusresults. When you track your results you should be able to tell which specificaction actually tipped the scales from a prospective to a determined buyer. Howto Make it WorkIf your referral network is struggling there are afew issues you can check over and attempt to correct to get it back on track.SetGoalsStay on track by setting goals for any of yournetworking events. If you set goals on how many you would like to attempt torefer, you will be able to better stay on track as well as gain some confidencein your own program as you see your efforts begin to pay off. TestRun Your ConversationsJust like any other type of public speaking,practicing your referral networking speech can have positive results when yourconversation comes out sounding intelligent, direct, and compelling. KeepMoving and Follow UpWhile you will certainly benefit from intenseconversation with prospective consumers, it is a better idea to keep moving andtalking to as many as possible. However, you will be doing your business adisservice if you do not keep track on a scorecard of those you have spoken to,any specifics you may have shared, and who they may have mentioned as possiblereferrers in your face-to-face conversations. Article Tags: Referral Network
Does,Your,Referral,Network,Wor