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3 laws of mastering referrals

Written by Freddy Shelton
Posted on September 27, 2017

As a business owner, have you ever truly considered how vital a good referral system is to the growth of your business?  Referrals are happening every day whether we’re conscious of it or not. How often have you engaged in conversations that started with:

  • “Who’s your hairstylist?”
  • “My car’s sounding pretty rough. Know a good mechanic?”
  • “I’m in the market for buying a house. Who was your real estate agent?”

We would like to introduce the Referral Mastery Series. This three-part series will cover:

  1. The Laws Governing Referrals
  2. The Art of Asking for Referrals
  3. How to Qualify and Close Referrals

Did you know customers are four times more likely to buy from you when referred by a friend? Principles taught about referrals span across industries as universal business truths. This series is designed to teach you the principles and give you the action steps needed to master the art of referrals. Understanding these key referral principles will lead to explosive personal and business growth.

Start by checking out our latest ebookUse this action guide to transform your business into a referral magnet. Inside you will discover the universal referral laws to help your business steadily grow all year long.

Without diving into too many of the details, I have taken a few principles from each section to share with you.

Referral Law #1: Personal Business Relationships

Learn to avoid the common pitfalls of transactional relationships and the impact of building personal business relationships with every customer. Some of the insights from this section include:

  • Transactional relationships have been defined as ‘a business strategy that focuses on single point of sale transactions.’ Transactional relationships don’t build loyalty and they generate abysmal amounts of customer referrals.”
  • “Personal business relationships are relationships that lead to long-term success for both parties involved… If you can reach this stage with every customer, you will have a successful business.”
  • “You will know that you have built successful business relationships when you’re the one your customers come to purchase from every time.”

Learn how to build personal business relationships with your customers so they purchase from you every time and refer all of their friends.

Referral Law #2: Give More & Receive More

Expand your referral network and learn to maximize your ability to give and receive referrals. Some of the insights from this section include:

  • Why would you only focus on customers when more than half of your referrals might come from colleagues, business associates, and employees?”
  • “When is the last time you referred someone to any type of business? If giving referrals isn’t top of mind, then getting them won’t be either.”

Learn how to get more referrals by giving more referrals and maximizing your referral network.

Referral Law #3: Get Employees Involved

Clear, actionable ways for you to involve your employees in the process of getting more and more referrals. Some of the insights from this section include:

  • “If you asked your employees for referrals, would they give referrals reluctantly out of obligation or would they give referrals enthusiastically without hesitation?”
  • “You must find ways to add value to your employees and their networks if you want to abundantly receive referrals. If all you do is ask, ask, ask, take, take, take, you will have very little success in this area.”

Learn how to get more referrals by getting employees involved and excited about your referral program.

Read More!

Referrals are often one of the most overlooked revenue sources in business. We have created this series to help you get more referrals, close more referrals, and dramatically grow your business. Download the ebook and let us know what steps you take to increase referrals in your business.