Partner Track presentation on Referral Marketing

1. Referral
Marke*ng

2. Leading
Results
Overview
• Marke*ng
services
firm
–
coaching
and
consul*ng
» 1:1
Coaching,
Group
Coaching
» Frac*onal
VP
of
Marke*ng
» Social
Media
Coaching
and
Learning
» Referral
Marke*ng
Coaching
and
Classes
• Authorized
Duct
Tape
Marke*ng
coaches
• Offices
in
Boston
and
Philadelphia
• Clients
throughout
North
America
• We
help
our
clients
stop
was*ng
money
on
marke*ng
that
does
not
create
results

3. Who
is
this
Dan
Kraus
guy?
• 25
year
sales
&
marke*ng
veteran
– 9+
years
with
Great
Plains
SoVware
(‘89-­‐’98)
– 6+
years
with
SAP
(‘03-­‐’09)
– Allaire
– Macromedia
– Infinium
SoVware
– ADP,
Con*nental
Cable
(Comcast)
• Founded
3
companies
• UMASS
Amherst,
Marke*ng

4. Leading
Results
Core
Marke*ng
Mantra
• Don't
talk
about
the
products
you
sell;
talk
about
the
problems
you
solve.
• Then
talk
about
the
remarkably
different
way
that
I
will
experience
working
with
you
as
you
solve
those
problems.
• Be
sure
you
tell
me
what
I
get;
NOT
what
you
do.
Because
I
don't
have
*me
to
figure
out
if
what
I
need
is
what
you
do.

5.
The
reali&es
of
referral

6. People
make
referrals
because
they
need
to

7. All
business
involves
risk

8. Consistency
builds
trust

9. Marke*ng
is
a
system
(and
referrals
are
marke&ng)

10. The
funnel
is
broken
“When
it
comes
to
lead
and
referral
genera3on,
customer
experience
is
the
new
black.”

11. "The best prospect is the client who has
already dealt with you. The second best is
the one referred to by a client who has
dealt with you previously. The third
best is the one referred to you by
another trusted professional or
friend.” - Marilyn Jennings, Award winning real estate
sales person and author

12. The
Marke*ng
Hourglasssm
Know
• Who
and
how
• Ads
• Referrals
Like
• Web
site/blog
• Recep*on
• Newslejer
Trust
• Search
• Expert
content
• Sales
presenta*on
Try
• Webinar
• Evalua*on
• Nurturing
Buy
• Service
team
• New
customer
kit
• Finance/delivery
Repeat
• Post
project
survey
• Cross
selling
• Quarterly
events
Refer
• Results
reviews
• Partner
intros
• Peer2peer
events
©
Duct
Tape
Marke3ng
–
all
rights
reserved

13. The
Marke*ng
Hourglasssm
Know
Like
Trust
Try
Buy
• Customers
Repeat
• Repeat
Customers
Refer
• Evangelists
©
Duct
Tape
Marke3ng
–
all
rights
reserved

14. Authen*c
strategy
•
Ideal
customer
•
Core
talkable
difference
•
Suppor*ng
elements
•
Culture
to
match
•
Expecta*on
•
Create
a
customer
community

15. Why
are
referrals
so
rare?
• Referrer’s
need
a
frame
of
reference,
a
posi*on,
to
think
of
referral
within.
• They
need
to
know
what
you’ll
do.
• They
need
to
know,
like
and
trust
you.

16. The
Solu*on
is
in
the
System
“No
majer
how
arpul
or
talented
you
are,
you
must
follow
a
specific
methodology
to
be
successful
in
expec*ng
and
geqng
quality
referrals.“
-­‐
Scoj
Kramnick,
Author
Expec*ng
Referrals:
The
Resurrec*on
of
a
Lost
Art

17. What
is
Referral
Marke*ng?
Systema*c
process
that
takes
word
of
mouth
adver*sing
to
its
highest
level
• New
clients
• Qualified
leads
• Repeat
business

18. Passive
vs.
Ac*ve
Referrals
Passive
• No
system
or
process
Ac*ve
–
organized
system
• Works
in
any
industry
• Works
for
any
business

19. Referrals
are
Powerful
• Great
ROI
• Shorter
sales
cycle
• Qualified
leads
• Fewer
price
issues

20. Target
referral
sources
• Customers
• Strategic
partners
» Anyone
who
serves
your
target
market
» Doesn’t
compete
with
you

21. Customer
community
Understanding
your
customer
referral
rela*onships
is
key
to
crea*ng
a
referral
engine
for
your
business
so
that
you
can
consistently
count
on
building
your
customer
base
from
referral
marke*ng.
Things
that
you
should
be
tracking
about
your
clients:
•
What
type
of
business/they
do?
•
Main
execu*ve
contact?
•
Other
contacts?
•
Why
did
they
refer
you?
•
Who
has
been
the
primary
person
that
referred
you?
•
Is
their
ideal
customer
the
same
as
yours?
•
Number
of
past
referrals
received:
•
Number
of
past
referrals
given:
•
Number
of
common
customers:

22. How
do
you
create
that
community
• Promoters
• Offers
» ID
your
champions
and
» Customer
only
offerings
evangelists
and
foster
» Portal
them
• Tools
• Educa*on
» Pass
along
offers
» User
Groups
(virtual)
» Perfect
Introduc*on
» Newslejers
» Knowledge
Flashes

23. Customer
Referrals
• Set
Expecta*ons
• Educate
on
your
process
and
perfect
referral
• Choose
moments
of
truth
to
act
• Follow
up
• Reward

24. Set
Expecta*ons
• Introduced
in
the
sales
process
• Reinforced
in
contract
nego*a*on
» Full
price
or
referral
price?
• Stated
again
during
consul*ng
engagement
• Introduc*on
of
your
perfect
prospect
to
en*re
client
site
• Reinforced
again
at
user
groups
• You
will
also
refer
to
them
(Blank
perfect
introduc*on
for
your
client)

25. Educate
on
your
process
• How
you
can
spot
our
ideal
client
» List
of
trigger
statements
• How
to
present
our
core
message
• Our
follow
up
process
• Tes*monials
–
It’s
not
just
you…

28. Moments
of
truth
(touchpoints)
• AVer
the
first
mee*ng…
• AVer
contract
signature
• AVer
cri*cal
milestones
are
successful
• Quarterly
communica*on
• Handwrijen
notes
• Execu*ve
Networking
Write
down
and
rehearse
the
words

29. Follow
Up
&
Reward
• Follow
up
is
cri*cal
» Make
sure
they
know
what
the
status
is
of
the
referral
they
gave
• Return
the
favor
» Get
them
to
complete
the
perfect
profile
in
return
• Rewards
» Personal,
business
or
community
» Small
token
just
for
thinking
of
us

30. Strategic
Partner
Referral
System
• Target
• Educate
• Offer
and
then
Execute
• Follow-­‐up
Consistently

31. Target
Specific
Industry
partners
• Who
else
could
be
mo*vated
to
refer
business
to
you?
» Obvious
Ones:
Technology
providers,
Management
Consultants,
Marke*ng
Consultants
» Less
so:
Lawyers,
Accountants,
Telephony,
Copier,
Bankers,
VCs
• Think
next
in
line,
think
outside
your
industry
» Real
Estate
Agents,
Chamber
Leaders,
Business
Brokers
• Ask
YOUR
customers

32. Research
before
Approach
• LinkedIN
• Facebook
• Twijer
• Other
Social
Media
Sites
• Their
web
site
…It
is
a
sales
call!

33. Educate
–
Use
the
perfect
intro
• How
you
can
spot
our
ideal
client
• How
to
present
our
core
message
• Our
referral
offer
• Our
marke*ng
process
Get
agreement
to
a
lunch
&
learn
and
reciprocate

34. Strategic
partnering
• Newslejer
or
web
content
• Endorsed
mailings
• Leverage
of
lists
for
marke*ng
programs
• Win
win
workshop
• BNI
• For
business
(soV)
or
for
revenue
(formal)

35. Give
them
an
offer
to
make
for
you
• GiV
Cer*ficate
Giveaways
» Free
“area”
assessment
» Tune
up
• Special
price
for
their
customers
• Cobranded
informa*on
or
product/service

36. Create
a
group
of
referral
partners
• Create
a
referral
group
of
complimentary
services
» Each
service
markets
for
the
group
to
their
clients
• Share
Nurture
or
Customer
Lists
• Provide
co-­‐located
training
classes
or
joint
seminars

37. The
value
of
a
group
Partner
Partner
Partner
YOU
Partner
Partner

38. Partner
community
Crea&ng
a
Referral
Marke&ng
Pla@orm
of
Business
Partners
• Decide
whether
your
referral
group
will
be
geography
based
–
(eg
Dallas
Area)
or
Industry
based
(eg
Non-­‐Profits)
or
both.
• Inden*fy
the
specific
types
of
businesses
to
include
• Name
your
candidates
to
include
• Ask
customers
who
they
know
for
the
open
slots
you
have
&
ask
for
a
referral
• Meet
with
vendors
1:1
and
explain
the
referral
group
you
are
building.
• Gain
commitment
to
par*cipate
• Get
the
whole
group
together
face
to
face
with
a
formal
agenda
• Decide
on
a
referral
reward
system
that
is
consistent

39. Follow-­‐up
strategy
• Con*nue
to
market
to
referrals
that
don’t
turn
into
clients
-­‐
Nurture
• Implement
a
process
to
systema*cally
communicate
the
progress
to
referral
sources
• Return
the
favor
• Be
Gracious

40. A
referral
may
not
be
a
lead,
but
may
have
tremendous
value
-­‐
An
introduc*on
-­‐ A
new
partner
-­‐ A
new
vendor

41. Summary
• Ideal
Customers
refer
good
prospects
• Referrals
don’t
just
happen
• Create
your
customer
community
• Set
Expecta*ons
• Plan
(manufacture)
M-­‐O-­‐T
• Follow
up
and
Over-­‐communicate

42. Result
Ul*mately,
an
effec*ve
marke*ng
system
has
your
phone
ringing
and
eliminates
the
need
to
compete
on
price.
Offer
#1
Complete
the
evalua*on,
get
the
slides

43. What
Next
• Marke*ng
Hour
Glass
Audit
» You
complete
our
ques*onnaire
» We
spend
45m-­‐60m
with
you
to
review
your
marke*ng
against
the
Marke*ng
Hour
Glass
» We’ll
provide
you
with
a
blank
copy
of
this
calendar
template
Check
off
the
box
on
the
eval….

44. We
help
small
businesses
stop
was*ng
money
on
marke*ng
Thank
You
&
Ques&ons
Contact
Us
Web:
www.leadingresults.com
Email:
dkraus@leadingresults.com
Phone:
978-­‐562-­‐4161
Twijer:
@LeadingResults
facebook.comleadingresults