51: Using referral networks to prospect and find business clients

 

Quality leads? Well, every business thrives on the quality and quantity of traffic coming its way. Referral networking has one of the highest rates of quality leads. It is your most effective channel for prospecting and finding clients, even if you are a small business. 

Tune in as we kick off a new series on using your networks to find clients for the business.

Explore:

• The world of referral networks
• The power of building strong relationships with industry professionals. 

SHOW NOTES

In a world where businesses compete fiercely to attract clients, referral networks can be an invaluable tool to finding high-quality leads. 

 

Welcome to this brand-new series on leveraging referral networks to prospect and find clients. In today's episode, we discuss the role of networks in driving business success, the powerful world of referral networking, and why it matters to have strong relationships with industry professionals.

 

Overview

 

- Introduction to referral networks 

-The significance of building networks with people in your circles

- How to harness the power of relationships to maximize prospecting efforts

 

Key Points Covered in the episode:

  

• What are referral networks?

Referral networks are a powerful resource for businesses that wish to grow their clientele. These networks consist of professionals and people who recommend business opportunities to each other, resulting in a high-quality and trust-based lead generation system.

For small businesses, referral networks can be a vital tool to compete against larger companies, using the power of relationships to gain more clients.

  

• Why you need to build relationships with industry professionals

Building and maintaining relationships with key individuals in your industry can greatly enhance your presence and credibility. 

Industry conventions, local networking groups, and social media can all be effective avenues for creating meaningful connections with professionals.

 

Start building relationships with industry professionals today, and watch your pipeline flourish!

 

Resources Related to this Series

• Check out this free resource on Strategies for Effective Online Networking https://www.tonikabruce.com/free-stuff/  to kickstart your journey towards becoming a networking pro.
• The Call-to-Action program https://www.tonikabruce.com/cta/  is designed to help you get more clients and establish a sustainable business through proven marketing strategies.

Discover Phalera, the all-in-one CRM https://phaleraglobal.com/  for entrepreneurs and business leaders, empowering you to manage clients, leads, and the entire customer journey easily.

 

Links to useful resources related to this episode: 

Strategies for Effective Online Networking: https://www.tonikabruce.com/free-stuff/ 

The Call-to-Action program: https://www.tonikabruce.com/cta/ 

Phalera, the all-in-one CRM for entrepreneurs and business leaders: https://phaleraglobal.com/ 

______________________________________________________________________________________________________

Start here with a road map. Get the intentional team management bundle: www.tonikabruce.com/intentional-team-management-sales/  Get your free guides and ebooks to get started with your business.. https://www.tonikabruce.com/free-stuff/ Follow me on: Instagram @tonikacoach Facebook @leadercoachbruce Twitter @TonikaBruce Learn more at.. https://www.tonikabruce.com

 

#BusinessCoaching #ReferralNetworks #marketingstrategies #Prospecting #BusinessGrowth #TonikaBrucePodcast

Episode Transcript

(00:00):
Welcome to a fresh episode ofTagline, the podcast for self-starters
and entrepreneurial leaders.
So we're starting thisseries about strategies and
prospecting defined clients.
So follow the next episodes asthey come out, and don't forget
to subscribe to this podcast now.
First strategy I wanna be discussingis the power of referral networks and

(00:23):
how they help small business owners andprofessionals find and secure new clients.
I believe this is one of themost effective lead generation
strategies that you must have underyour belt as a small business.
Why it costs you almost nothing,and you already have the resources.
I'm just here to show you how to use them.

(00:44):
So you may ask, whatare referral networks?
First, let's answer this question.
Referral networks or referralmarketing involves leveraging your
existing professional relationshipsto generate new business leads.
These are often referred to as word ofmouth referrals, and they can be the
most effective form of marketing thatyou have under your tool belt referral.

(01:06):
Networking occurs when businesses,individuals, or organizations refer
to each other's clients or leadsto build cooperative relationships.
So why are they so powerful?
Whether you're a solar entrepreneur orrun your business with a small team.
Building relationships withother professionals and people

(01:27):
in your industry is one businessstrategy that you have to employ.
Now, you might be wondering why referralnetworking is so important other
than the reason your business doesn'texist and operate alone in the market.
Here are critical benefitsof referral networking.
The first one is it's a costeffective marketing strategy.

(01:49):
These networks help you connect withyour customers through reliable people.
When someone refers a person to yourbusiness, it holds more weight than
any marketing that you can ever do.
So current studies show that 84% ofcustomers trust a product referred
to them by their friends and family.
People are four times more likelyto buy when they're referred.

(02:11):
Lastly, it's the most effectiveavenue for lead generation.
Second, the reliability of gettingmore referrals in the future.
Man, we can't miss this.
And when it's done correctly, you've builtsuch a base of loyal fans and meaningful
connections, so it's much easier toask them to recommend your business.
With that said, professionalnetworks are still relationships.

(02:35):
One common mistake that a lotof small business owners make is
approaching referral networkingwith the self-serving mindset.
This strategy can really,really backfire quickly.
People undoubtedly perceive youas insincere and only interested
in self-promotion, and insteadapproach the referral networking

(02:56):
as an opportunity to form authenticrelationships, being genuinely
interested in other people and theirprofessional lives and their businesses.
And I'm gonna be sharing how inthe coming episodes, Referral.
Networking is such a powerfultool for your business' growth and
sustainability for two reasons.

(03:18):
One, industry relationshipsare your first testimonial and
gateway to generating leads.
Second, you'll benefit from mutualsupport and guidance from your peers.
So take the time, invest in yourprofessional relationships, and you're
going to find fuel for your business.
Just take off.
Thanks for tuning in today's episode.

(03:40):
Stay tuned more on this series inthe coming weeks, and as always,
we have useful links for youin the description box below.
See you next time.