Building Referral Relationships

I had the opportunity to listen to a great speaker yesterday from Venture Builder Inc.  John Rodolff (President) gave an awesome speech on Building Referral Relationships for business. 

Here is what I learned:

Look for a Referral Partner:

A referral partner has the same target market as you do

A referral partner accesses the same level of the companies you do (CEO or Marketing manager)

A referral partner is reaching the business at the same moment (when the business is going through a change)

Where to find Prospective Referral Partners (P.R.P):

Single Profession Associations (ex. The Association of Realtors)

***Ask someone you know that attends his or her meetings if you can be a guest?

Professional Associations

***Key here is DO NOT TRY TO SELL ANYTHING

Look for Referral Partners that Specialize in areas.  No Generalized Goals.

(I work with small to med businesses)  **This is too General. 

(I work with clients that have an ROI of 50k or more that are in marketing management).

Questions to ask the Prospective Referral Partner:

How well do you get to know your clients business?

How has your company been affected by the economical downturn?

How to prepare your first coffee meeting with a Prospective Referral Partner:

Research their website and Linkedin (print pages off and make notes to ask them

Ask opinions of your business plans or website

**The host or person requesting the meeting always pays for the coffee

First Meeting with P. R.P.

Talk about the following: Where you met them.  Who else have they met? What other organizations do they belong to? Why would a person choose to work with PRP instead of their competition?

*** Anything other than Selling your product or service.

Conclude with an Action Item:

Next time we get together I will do this or they agree to do something

Maintain a Healthy Relationship with your PRP by keeping in contact with them.

Characteristics of good PRP’s

Personality:  Are they compatible with you?

Expert:  Are they an Expert in their field?

Differentiated: Why are you referring them instead of someone else?

Principled: Are they ethical?

I'm not sure if this works yet, however, I will be trying it out? I'll let you know.

I do want to give special thanks to John and the San Diego Chamber of Commerce for giving this lesson on referrals.