Give Me Referrals!
The major point into getting those coveted referrals is to build up relationships. That’s kind of it.
As you all know by now, the place to build up these all-important connections is at networking events, spending time getting to know people who can benefit you but also people you can benefit.
Strong referral relationships are similar to building close friendships, not the kind of social media ‘friend’ but really strong connections. There’s a process as time goes on from someone you ‘just know’ to ‘close friend’ and the main ingredient is time. Some would estimate the time needed to form the trust for a strong referral relationship to be between ninety and two hundred hours!
Sounds like a lot of work but the benefits can be huge but it really does come down to people getting to know you, you getting to know people and a mutual trust developing between you and your fellow networkers. There is no overnight situation where you suddenly find you have a massive increase in referrals if you don’t know anyone!
There is a steady growth of confidence that needs to be negotiated before business can be done with anyone and if you jump in too quickly you may have to spend more time repairing the situation before you can really get down to real business. This confidence isn’t about your self-belief or self-worth but how your potential referral partners have confidence in you. Remember that when people refer people to you then they are saying that you’re reliable, you’re trustworthy and provide a good service and while that might be true, their reputation is on the line and without sufficient confidence in you, they’re not going to refer people to you.
So simply what it comes down to is how much time you’re willing to spend networking, getting to know other businesses if referrals are the way you want to see your business develop and grow.
And why wouldn’t you? According to Referral Sasquatch:
- People are 4 times more likely to buy when referred by a friend
- 92% of respondents trusted referrals from people they knew
- 84% of B2B decision makers start the buying process with a referral
What it comes down to is the more time you spend getting to know people the more referrals you are likely to get.