Referrals: What’s Really Going On When You Receive One
Here’s the scene:
Both vendors have presented professionally. They offer what you need. Their pricing is comparable.
You found Vendor A through independent research.
Vendor B was referred to you by a colleague.
Which vendor has the advantage?
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If you answered Vendor B (which you likely did), you’d be right all day long.
Referrals are hands-down considered the “best” source of leads for every company I know.
But getting referred is about more than a higher close rate. Much more.
It’s about reputation.
Not yours. Theirs.
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You have to do good work if you want to get referred.
In fact, you likely need at least a few superfans in your corner.
Because a referral is about more than your business. A referral is an indication that somebody else is willing to put their own personal reputation on the line for your company.
When you think about it, that’s a huge risk for the referrer. And a major compliment to you.
You can’t buy referrals. Not sustainably anyway (more on that later).
Because if money is the only reason someone has to refer you…they just won’t do it.
All the money in the world won’t incentivize someone to stake their reputation.Money is great. Reputation is far more valuable.
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Want more referrals?
Start by overservicing your clients. Do great work. It gets noticed.
And your customers need to adore you. It’s one of our 5 guiding principles:
Remember What Matters Most
- That your customers absolutely love you
- That your people love working at your company
- That the business makes money
When you get that referral, don’t go for the hard sell. Help first. Remember that you aren’t just representing yourself. You’re representing that fan of yours who put their reputation on the line to make an introduction.
Last but not least, put it out there that you want more business. Not every company does. Don’t assume you’ll stay top of mind with potential referrers. Intentionally land yourself there.
***
Remember how I said that money won’t make people refer you?
It’s still true, a few paragraphs later. But financial incentives do have a place in this equation.
Consider a referral fee a bonus—a thank you, a gift, a sign of your appreciation.
Money won’t make somebody risk their reputation for you.
But it might make someone who is willing to refer you refer you a little bit more.
In that spirit, Crews & co. is launching our own referral program, effective immediately.
We’re offering a $2,500 referral fee for anyone you refer who becomes a Growth Method client.
The referral program is our way of living the advice in this piece: being willing to ask for business, getting visible, and offering a financial incentive as a sign of gratitude.
Over the years, we’ve been honored to earn referrals from our community.
We’ll keep working hard to make sure we’re worthy of them.
P.S. Know anyone who could benefit from the Growth Method? Reply to this email or send an introduction to Referrals@Crewsandco.com
