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Mavaric’s founder, Lara, preaches this to EVERYONE if she has the chance, so you might very well have heard all of this before today! But regardless, these ten truths need to be repeated again and again.

  1. Do you understand the concept of referrals? Referral marketing is about leveraging trust from one person to another. It is inherently the purest form of business honesty you can have. Referral marketing is NOT just some scam to bring in business for free.
  2. Some people might think that referral marketing occurs organically. But fewer than 10% of referral business ‘just happen.’ It’s a fact: People don’t want to talk about you or your product at parties and they don’t want to run around telling all their friends how great you are.
  3. Some businesses don’t formally measure results. If you don’t have a formal process to track referral leads, my advice is to implement it right now.
  4. Some businesses don’t report on the results of the referrals. You need to show the person who referred somebody to you what the result was (especially if there is commission owing). You also need to know at a glance who referred who and where each person is in the sale process.
  5. Some businesses don’t ask for referrals. It’s unbelievable, but nearly all businesses are too scared to ask the simple question, “Could you please give me a referral?” Ask nothing, get nothing.
  6. Maybe the timing of your request for referrals is not spot-on. If you ask for a referral before the relationship is strong enough, then you don’t have much chance of success. However, ask at the right time and you will see that this really works.
  7. Some businesses run campaigns that rely solely on referrals. Referral initiatives are there to SUPPLEMENT other marketing initiatives, not REPLACE them. Referrals should be part of the campaign, not the campaign itself.
  8. Some businesses don’t make a referral process part of their day-to-day business process. Referrals should be a part of your life, not an occasional flurry when your business is having a bad month.
  9. Some businesses let the referee down. Someone puts their name on the line for you and you don’t have the courtesy to follow up on it. Or worse, you provide shocking service to the lead. This is not good for business and you’ll lose both the referee and the lead.
  10. You don’t offer commission or are unwilling to pay for leads. For goodness sake, this is BUSINESS! Business is about money. Referral commissions are the most critical of all of them. Amazon.com is built on referrals ― that’s what makes them number one in the world!

Welcome to the new age of World Micro Business Domination. Ask for referrals and you might get none. Ask for five referrals… you will get three. Being vague gets you nowhere. I find being clear makes a huge difference.

Do you have a success-story with referrals that you’d like to share with us? Or do you have any questions about this matter? Let us know on the Connect page.

“If you don’t know where you’re going, it doesn’t matter which road you take.”

It is the same in a business as it was for Alice when she went to Wonderland. It is imperative that you know where you’re going.

In the eighties – and maybe even in the nineties – our approach was all about “as many as we can.” As many products as we can sell; as many people as we can reach; as many brochures as we can print; as big a target as we can reach… Sell to anyone and everyone and we will make money!

We feel things have shifted, shifted to knowing exactly what you are selling and knowing exactly to whom you want to sell it. The market has become clever. You can no longer force anyone into buying things that they do not want. And if you do, good luck trying to sleep at night while your conscience gnaws at you…

It’s all about finding the right person who wants exactly what you have to offer, at the exact time they want it, and for the price at which you want to sell it. So know your target market. Know where they are, and know how to find them. If you don’t know, call us so we can offer suggestions. Also, know exactly how many of your products/services you want to sell and set a time limit. Create a target for yourself in your sales cycle, a target within your reach. This will be determined by your own rhythm, which you control – not your prospects.

Know what you’re doing in every month, for example:

  • I am calling 100 new people.
  • I am making 20 new appointments.
  • I will have 15 new quotes.
  • I will have 10 new clients by month end.

This is the start of a sales process. So easy! And really, we are serious about helping you find your target market. Give Lara a call. Her number is on the Connect page.