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Referral marketing - SugarCon 2011

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Partner Track presentation on Referral Marketing

Partner Track presentation on Referral Marketing

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  • 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   •  Dont  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  dont  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 hasalready dealt with you. The second best isthe one referred to by a client who hasdealt with you previously. The thirdbest is the one referred to you byanother trusted professional orfriend.” - 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…  
  • 26. 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  
  • 27. 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  
  • 28. Strategic  Partner  Referral  System   •  Target   •  Educate   •  Offer  and  then  Execute   •  Follow-­‐up  Consistently  
  • 29. 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  
  • 30. Research  before  Approach   •  LinkedIN   •  Facebook   •  Twijer   •  Other  Social  Media  Sites   •  Their  web  site    …It  is  a  sales  call!  
  • 31. 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  
  • 32. 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)  
  • 33. 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  
  • 34. 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  
  • 35. The  value  of  a  group   Partner   Partner   Partner   YOU   Partner   Partner  
  • 36. 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  
  • 37. 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  
  • 38. A  referral  may  not  be  a  lead,   but  may  have  tremendous   value    -­‐  An  introduc*on  -­‐  A  new  partner  -­‐  A  new  vendor  
  • 39. 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  
  • 40. 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  
  • 41. 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….  
  • 42. 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  

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