How to help them help you?
In business networking, we meet business people from very diverse backgrounds. Members assume that everyone else has understood their business very well and it is really easy for them to share references.
However, the central idea of referral marketing at Meudyojak is educating other members about their business. Certain businesses like Insurance, loan consultants are very well understood by others. But then also it is important to make your referral sources understand the specifics of your business.
1) Educate your team about
· Your product or services: Be specific about them with minute details
· Ideal client avatar: Demographics of your ideal customers
· Where do your customers hang around: Where to find your target market?
· Your USP. How different you are from your competitors
· Your existing clients: Share a list of your clients
· Your testimonials: How have you helped your existing customers
· When to pitch: How do you know your prospects need your products and services
· Your referral partners: businesses who have target market same as yours
· Your Marketing Battlefield: Phillip Kotler defined 7 Ps of Marketing Price, Product, Place,
· Promotion, People, Process, and Physical evidence. Which parameters do you compete?
2) Training your referral partners is your responsibility
The responsibility of training your referral partners is Yours only. You know your business very well and assume that it is easy for others also to understand it. But that is not the case. You have to take efforts in making them understand all the important aspects of your business. At Me Udyojak which is a business networking group, this happens through 8-minute presentation, an Elevator pitch and also 121s.
A lot of thought needs to go while communicating your business specifics.
3) Give a demo of your products and services
It is ideal if you give sample of your products to your sales team wherever possible. If a sample is not possible then you can give a demo of your product use.
A site visit is also another way of educating your sales team or your referral partners. This creates trust in mind of your referral partners resulting in more and quality references.
To get the maximum quality references from your referral partners, educating your fellow members about your business is one of the critical steps each member has to master. The focus should be on training your salesforce and not closing your sale.
As always Me Udyojak which organizes business networking meetings in Mumbai helps you improve these skills by continuous practice and feedback.