The key concept in referral marketing is relationships. The system of information, support and referrals that you assemble will be based on your relationships with other individuals and businesses. Referral marketing works because these relationships work both ways: They benefit both parties.A referral marketing plan involves relationships of many different kinds. Among the most important are those with your referral sources, with prospects these referral sources bring you and with customers you recruit from the prospects. Theserelationships don’t just spring up full-grown; they must be nurtured. As they grow, fed by mutual trust and shared benefits, they evolve through three phases: visibility, credibility and profitability. We call this evolution the VCP Process. Continue Reading »
This is one of my favourite blog posts by Dr. Ivan Misner this month.
1. Arrange a one-to-one meeting. Meeting a referral source in person is an excellent opportunity to learn more about his business and interests. Prepare some questions in advance so that the conversation flows smoothly. Be ready to give an update on your business and to ask lots of questions about your source’s interests.
2. Extend an invitation. Invite a referral source to a networking event. Introducing her to other businesspeople you know gives your source an opportunity to meet others in your target market and may also provide new business opportunities.
3. Set up an activity. A recreational activity, such as a golf outing, fishing trip, concert or play, is a great opportunity to let your referral source see a different side of you in an informal setting. The activity should be one that will give everybody time to relax, but it may also include an element of information such as a speech or educational presentation. To maximize the effectiveness of your time with your sources, you should invite no more than four people and spend at least one hour with each. Continue Reading »
By Dr. Misner: When I taught management-theory classes at a Southern California college, students would sometimes say to me, “Look, you’ve just walked me through ten different theories of management. What’s the best one to use?”
I would answer, “The one you consistently apply. Why would I say this? The reason there are different ways of managing people is because people are different. They have different personalities, different approaches, and different techniques. The tried-and-true method that you consistently and effectively apply is the one that’s going to work best for you.
Follow-up is a similar issue. For example, I know that handwritten notes are considered to be the best way to follow up.The problem is . . . I just don’t do them consistently. Therefore, are they really the best technique for me? No, because I know I’m not going to do them regularly. I prefer to follow up with an e-mail message, a phone call, or better yet, a card using something like the SendoutCards.com system. Continue Reading »
More than ever Networking is crucial to keeping your business moving forward. While the media may be spouting about the recession, small and medium sized businesses can refuse to participate. Have a look at this inspirational short video by Dr. Misner sharing how one real estate brokers mindset and actions helped him have his BEST year ever.While you cannot control the economy or your competition, you can control your response to the economy. Referrals can keep your business alive and well during an economic downturn.
Over 800 entrepreneurs and leaders of other networks such as Lions, Rotary, Chambers of Commerce and Business Groups across 3 cities in India celebrated the importance of networking and watched this video. To download a high quality version of this please click on this link. http://www.gocec.com/bni/
BNI Changing the way the world does business logoAbout a year ago, it struck me that BNI truly is ‘changing the way the world does business’. Last January, I was in Tucson, Arizona, for a bi-annual meeting of the Transformational Leadership Council (TLC). TLC is a small network of trainers and thought leaders founded by Jack Canfield of Chicken Soup for the Soul fame. Continue Reading »
The key concept in referral marketing is relationships. The system of information, support, and referrals that you assemble will be based on your relationships with other individuals and businesses. Referral marketing works because these relationships work both ways: they benefit both parties.
A referral marketing plan involves relationships of many different kinds. Among the most important are those with your referral sources, with prospects these referral sources bring you, Continue Reading »
A referral marketing plan involves relationships of many different kinds. Among the most important are those with your referral sources, with prospects these referral sources bring you and with customers you recruit from the prospects. Theserelationships don’t just spring up full-grown; they must be nurtured. As they grow, fed by mutual trust and shared benefits, they evolve through three phases: visibility, credibility and profitability. We call this evolution the VCP Process. Continue Reading »
