Referral marketing - SugarCon 2011

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Referral marketing - SugarCon 2011

  1. 1. Referral  Marke*ng  
  2. 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. 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. 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. 5.                    The              reali&es                                      of  referral  
  6. 6. People  make                referrals  because                        they  need  to  
  7. 7. All  business                  involves  risk  
  8. 8. Consistency                      builds  trust  
  9. 9. Marke*ng  is                    a  system  (and  referrals  are  marke&ng)  
  10. 10. The  funnel            is  broken  “When  it  comes  to  lead  and        referral  genera3on,  customer        experience  is  the  new  black.”  
  11. 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. 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. 13. The  Marke*ng  Hourglasssm   Know   Like   Trust   Try   Buy   •  Customers   Repeat   •  Repeat  Customers   Refer   •  Evangelists   ©  Duct  Tape  Marke3ng  –  all  rights  reserved  
  14. 14. Authen*c  strategy   •   Ideal  customer   •   Core  talkable  difference   •   Suppor*ng  elements   •   Culture  to  match   •   Expecta*on   •   Create  a  customer     community  
  15. 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. 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. 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. 18. Passive  vs.  Ac*ve  Referrals   Passive   •  No  system  or  process     Ac*ve  –  organized  system     •  Works  in  any  industry   •  Works  for  any  business  
  19. 19. Referrals  are  Powerful   •  Great  ROI   •  Shorter  sales  cycle   •  Qualified  leads   •  Fewer  price  issues  
  20. 20. Target  referral  sources   •  Customers   •  Strategic  partners   »  Anyone  who  serves  your  target  market   »  Doesn’t  compete  with  you  
  21. 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. 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. 23. Customer  Referrals   •  Set  Expecta*ons   •  Educate  on  your  process  and  perfect  referral   •  Choose  moments  of  truth  to  act   •  Follow  up     •  Reward  
  24. 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. 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. 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. 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. 28. Strategic  Partner  Referral  System   •  Target   •  Educate   •  Offer  and  then  Execute   •  Follow-­‐up  Consistently  
  29. 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. 30. Research  before  Approach   •  LinkedIN   •  Facebook   •  Twijer   •  Other  Social  Media  Sites   •  Their  web  site    …It  is  a  sales  call!  
  31. 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. 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. 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. 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. 35. The  value  of  a  group   Partner   Partner   Partner   YOU   Partner   Partner  
  36. 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. 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. 38. A  referral  may  not  be  a  lead,   but  may  have  tremendous   value    -­‐  An  introduc*on  -­‐  A  new  partner  -­‐  A  new  vendor  
  39. 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. 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. 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. 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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