Wednesday, August 17, 2011

How to Work Entirely from Referrals

How would you like to get all the business you can handle, from referrals only?

I know a woman like that. She's served more than 800 clients and doesn't spend a penny on advertising. Her business is entirely referral-driven.

Her name is Allison Kraus. She's referable because she's remarkable. You can be, too.

First, two definitions ...

1) To be referable means people tell others about you.

2) To be remarkable means you are worth talking (remarking) about.

See the relationship? Before people will talk about you and refer others, you must be worth talking about. You must be remarkable.

Now, back to Allison and her company, Minnesota Health Coverage. She's a sort of health insurance broker, helping people in Minnesota select the best, most cost-effective plan from the maze of choices.

Full disclosure: I'm a client. And she saved me about $225 a month on insurance -- enough to fully fund my IRA -- so you can also call me a happy client.

Anyway, Allison shops around for the best health insurance plan at the best price. And she doesn't charge you, the client, anything -- her fee is paid by the insurance company. Even when you figure in her modest commission, you still save loads of time and money with Allison. In my case, I save about $2,700 a year.

That's worth telling people about. That's remarkable. And that's why Allison is so referable.

Now. You may not have a value proposition (yet) as compelling as Allison's. So you may not get as many referrals as you would like.

If so, you have two choices:

1) Find and articulate the value of what you do in a way that's compelling.

Example: Among the things I write for clients are autoresponder emails -- a series of 5 or more emails sent by a service like Aweber to people who request information about your company.

I wrote a series of 6 autoresponder emails for one client that produced $3,771 in found money -- orders that never would have happened otherwise. Over the two-year shelf life of this system, my emails should produce more than $14,000, for an ROI of more than 20-1.

By themselves, autoresponder emails are not compelling. But by articulating their value ($3,771 in found money ... $14,000 in two years ... 20-1 ROI) they become so.

2) Deliver remarkable service to clients. This is a shorter idea, but no less powerful than 1).

Examples abound of wildly successful companies who sell commodities but deliver remarkable service -- Zappos, The Ritz Carlton, Nordstrom, etc.

There's nothing stopping you from serving clients faster and better than the competition. Never think of client service as a chore. Remarkable client service is nothing less than the foundation of a business that runs on referrals.

So, here's the formula: To be referable, be remarkable.

You'll find more ideas like these in my Free Report, Guaranteed Marketing

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