Who should be in a referral network
Does your business have a variety of products and/ or services that help customers in different scenarios? If so, multiple referral networks are critical to make sure you can help your customers in every scenario.
In this article we’ll build upon our thoughts in our article about why referral networks are built on giving and help you easily build multiple referral networks to help your customers in each of these significant scenarios.
Referral Network Building Exercise
To build your core referral networks, start by drawing a circle for each customer scenario your business helps with and label each circle after the scenario. One might be ‘buy a home’, the other might be ‘manage an investment property’. In each circle, write the following:
- Who in my network can help my customers?
- Which businesses do I not compete with, believe in their product and trust to help my customers?
- Which other businesses do my customers buy from?
Now that you have your circles, write the names of businesses that fit into each circle.
You now have different groups of businesses that would be ideal referral partners. Our article Create your First Referral Network talks about how to reach out to these partners and how to go about building a strong relationship with them.
What multiple Referral Networks look like.
Based on using this tool, a Real Estate agent would have three networks:
- Sale & Purchase Network; mortgage broker, accountant, insurance broker and solicitor.
- Property Maintenance Network; electrician, plumber and locksmith
- Moving in Network; cleaner, mover and a locksmith
Now that you have the right partners, our article on referral network huddles will help you with the best structure to meet your partners and the right questions to ask. In the spirit of giving, we’d love you to share this article with your friends and business partners.
Harvey Pence helps businesses to grow faster with a referral network. The Harvey Pence Referral Platform and our Comprehensive Guide are the best resources to help you create, improve and grow your referral network.