Ways to Build Referral Business

Set Up a Referral Website
If you’re more serious about making referrals a primary source of business, build a dedicated website with an easy-to-remember URL, specifics about your market, and info that makes you memorable.

Customize Your Directory Profiles
Referral directories may seem outdated, but Rogers says they’re still widely used by many agents. Fill out every field and make it clear that you’re an active agent.

Focus on Meaningful Connections
It’s not about giving your business card to everyone you meet. The purpose of exchanging business cards, he says, is to facilitate further communication after an initial connection.

Use Referral Business Cards
Create a separate set of cards to use for networking with other agents and brokers. Include info on who you are, a visual or text explainer of your market area, a note about your experience, and an easy way to contact you.

8 Simple Rules to Build a Referral-Based Business

• Deliver A WOW Experience
• Build Client Loyalty
• Plant the seed early in the relationship
• Make it easy for them to refer
• Practice the Law of Reciprocation
• Ask for non-threatening referrals
• Really thank them for their referral

Position Your Business
So, if the prospect of building the referral end of your business is so enticing, why do so few businesses do it? Because they use the wrong approach in building referrals and have limited success. Follow these tips to ensure your business is positioned to successfully build referrals.

Set a Target
In business, measure the results to improve performance. Set a clear goal with a timeline. For example, 10% increase in referral business over the next 10 weeks.

Perfect Timing
Conventional sales wisdom claims the best time to ask for the referral is immediately after the close. This tactic is far too aggressive. Give your clients time to experience your service or product before asking for a referral. Ask for the referral at the close only if your client is already delighted with your business.

Focus on the Top 20
Not all customers are referral candidates. Find the top 20% that are ecstatic about your business and ask them for referrals. Make sure their network is the type of client you want.

Give and You'll Receive
Give your clients extra service and follow-up support before asking for referrals. When you give willingly to your customers, they will return the favor.

Identify the Right Type of Customer
Inform you're referring clients of the type of customers you can help. Providing a clear picture of the customer demographics will help your referral marketing.

Create a Rewards Program
 Provide special rewards to your referring customers on a regular basis. If a customer provides you with 5 sales, offer them something special, e.g. discounts.

Say Thank-You
Lisa A. Maini, President of My Marketing Manager, recommends that businesses establish trust in order to build referrals. Lisa says, "Create a basic thank you letter that can be personalized and sent to each referral you receive. Treat your referral sources with the utmost of care and you will not only build a foundation of trust but keep hot prospects coming to your door."

5 tips to help you start building your business referrals.

1. Do Good Work
   This may seem obvious, but if you don’t do great work, you won’t get referrals from current or former clients. In general, the better service you provide, and greater customer support you offer, the more your current clients and customers will use your services. Plus they’ll also tell their friends about their great experience, which brings you new business.> <
2. Ask Current Clients to Refer You
   Most of the time, the reason you aren’t getting referrals, even if you are providing great service, is because you haven’t asked for them! Tell your customers and clients about your desire to grow your business. Then, ask your clients to refer you! Don’t forget that important step. By not asking you are hurting your chances at more business. Most of the time, your clients want to help your business grow. But they don’t think to refer you to others if you don’t ask them to! You can make it easy on them, and yourself, by telling them what types of clients or customers you are looking for and how they can describe your services to their friends.
3. Know When to Ask
   Ideal times to ask for referrals are right after they compliment you, or right before a final deal closes. If things are going well, build off of that momentum. Ask if they would refer you, or if they know of anyone who could benefit from your services. Knowing when to ask for referrals is just as important as asking for them at all.
4. Keep it Simple
   Make sure you tell your clients how they can refer you, and where they can go to write you a review. Give them an easy way to provide feedback, submit a new lead, or share your services through their social media. The easier you make it for them to tell about you, the more likely they’ll be to refer you. Also, be sure to periodically remind them to refer you. Everyone gets busy, so a nice reminder in your monthly or quarterly communications, or even a gentle nudge, will at least get them to think about it.
5. Thank Your Clients
   Last but not least, be sure to thank your clients. It’s always important to thank your clients for working with you and for referring your business to their peers. Without them, and their referrals, you may not have a successful business. This might mean sending out a nice gift if they sent a large new client your way.