Top tips for boosting referrals and increasing profits

Posted by Marcus Cauchi PM | on Tue, 07/09/2010 - 09:59 1890 3 comments

Generating referrals isn't just about the quantity of them; it's also about getting good quality leads. Marcus Cauchi offers advice on how to create effective referral partnerships.

Systematic referral marketing works, networking doesn’t. If referrals are always a surprise instead of strategic and planned, chances are your networking is more akin to a social life than a business generation activity.

Referrals can be as predictable and dependable as any traditional direct marketing tool that is managed systematically and scientifically. If you are sick of kissing frogs and getting slimy lips instead of your prince and a happy ever after, odds are you are making some cardinal errors which are costing you time, money, resource and opportunity.

If you treat networking like a pile it high, sell it cheap activity where you are going for width instead of depth, lots of people will know of you but few will trust you well enough to bring quality leads your way. In reality the chances of you being able to manage more than 30-50 loose relationships, let alone 24,000 are slim to none. Giving it a go means that you are in danger of receiving a steady stream of time wasting referrals to inappropriate prospects that waste both of your time.

Continued...

Thank you for some excellent advice

lme | Tue, 07/09/2010 - 12:46 | Permalink

I will be putitng some of this into practice immediately, very timely, helpful, thought provoking ad enjoyable.

-- Lydia

I learnt a lot from Marcus

bookmarklee | Wed, 08/09/2010 - 19:28 | Permalink

I first met him over 4 years ago and have always found him full of sage advice even if his style may be a touch unorthodox. You have to see him in action as a speaker/trainer to understand that comment. He knows his stuff and has no time for time wasters.

Mark

Top tips for boosting referrals and increasing profits

CliveBooth | Wed, 22/09/2010 - 16:22 | Permalink

Marcus Cauchi's article is the best I've read all year on new business development. It's excellent, thank you Accountingweb. The Accountancy and marketing discussion group seem to have overlooked it; given it's value this is a surprise.

If there was one additional element that Marcus might have included it's 'persistence'. Never give up. If you're knocked over, get back up.

Building a successful business takes time, and there will be set backs, but taking just three 'celebrity' business people as examplars, Sorrell, Branson and Sugar (no, not a firm of accountants, but hey...) however tough the going was for them over the last thirty years, they've been persistent, and never given up.

They also make the most of the media. (But then I would say that wouldn't I? This is where I work www.lansons.com). But perhaps that's for another email trail.

Back to persistence... there's an aphorism I've never forgotten, because it's so easy to remember, but also so apt, as far as new business is concerned: 'Winners never quit, and quitters never win.'

Cliveb@lansons.com 0790 801 7927