How to Create An Automated Endorsed Referral Marketing System (Pt 2)
Welcome back. In the last training session we discussed the power of an Endorsed Referral Marketing Alliance and the amazing benefits of putting one properly in place.
Let’s go over a quick recap of what was discussed in the previous article:
• Referrals are really awesome, but only when done properly.
• Most people’s approach to getting referrals is ineffective, at best.
• A much more effective approach is to “give to the giver”
Today, we will be discussing exactly how to put it all together. Hope you’re ready to take notes.
I want you to realize something…
Regardless of whatever product or service you are selling, there are hundreds, if not thousands of affinity, non competitive businesses out in the marketplace with entire databases full of your most ideal clients and customers.
Let that sink in for a minute.
Hundreds of thousands, (probably more like hundreds of millions) of buyers that have already purchased something from someone they already know, like and trust, and are just sitting in a few databases somewhere ready for you to add value to them in exchange for their purchase from you.
Buyers Vs. Prospects
Dan Kennedy is famous for saying “a buyer is a buyer is a buyer.”
What he means by that is that once a person proves their willingness, and ability, to buy a product or service, they are the MOST likely to purchase more of that product or service.
They are also much more inclined to buying other recommended products or services that enhance, solidify, improve and/or complement their original purchase.
The woman who owns fifty pairs of shoes is certainly a better prospect for a 51st pair than the woman who owns none.
This is because the vast majority of these people are prospects.
Prospects are potential customers, people who have yet to buy from you.
And since they have yet to buy, they have done nothing to contribute to your bottom line.
Buyers — the people who have actually bought something — are the ones who are actually doing something to help grow a business. And they are also the ones more inclined to purchase more from you as well as from others.
So doesn’t it make sense to find a way to market your products and services to buyers?
The Power Shortcut
The fastest way to do that is by forming a partnership with the “gatekeeper” of the database where your ideal clients – those who have already purchased something similar or complementary to your products or services – are stored.
So let’s talk about who these “gatekeepers” are and how to find them.
What Type of Partners Should You Look For?
When looking for the ideal partner to create an Endorsed Referral Marketing Alliance with, there are certain minimum requirements that they should have.
For example, you need to find businesses that:
• Are complimentary to you and are not competing with you
• already have an established database of clientele or customers
• are highly trusted by their clients/customers
• Have a good reputation in the marketplace
• are looking to grow their business, not satisfied with where they are
• are fanatical about taking amazing care of their customers and clients
• are willing to be part of a “team” with our Referral Alliance
Businesses that have these characteristics and qualities will provide you with the best results for your goal.
How To Find The Ideal Businesses To Partner With:
There are many ways you can approach finding businesses that fit the above criteria. Here are just a few you can use:
- You can approach companies you know and already do business with. Later on, I’ll be giving you a script you can use to approach them.
- You can ask your existing network. The people you know or are connected to can provide you with plenty of quality businesses for you to approach. Matter of fact, getting referred to them gives you an “IN” with the businesses you’re looking to work with.
- You can look on LinkedIn, Alignable, Google Local, Yelp and Manta. These sites will allow you to see how long these businesses have been around, if they have good reviews, get an idea of how many customers they have and how their customer service is.
These three methods alone will keep you busy for weeks finding businesses that fit your profile.
In the next session, we will be discussing how to approach these businesses so that they are more than willing to entertain and accept your proposal.
We’ll also talk about exactly what you are going to offer them that will have them literally competing to do business with you.
Until next time, make it a GREAT day!