3 Hidden Benefits of Receiving Referrals
Most of us are thrilled when we receive a referral from our peers and clients. It means more revenue and ensuring a healthy growth for your business.
Having run two design businesses over the past 9 years, I’ve learnt that there are some ‘hidden’ benefits that we don’t normally think of when handling referred business.
- Validation that you’re doing great work
Let’s just put it this way — if you suck at what you do, why would anyone recommend you to others?
If you’ve been getting a steady stream of referred business, it’s a good indication that your clients are happy with your services. Be encouraged by this, but don’t rest on your laurels!
Remember to ask for referrals — don’t be shy!
Monitor the ratio of business that comes in through word-of-mouth vs cold leads. If you can get clarity on exactly what you are doing right, you’ll be able to take it to the next level and attract business, instead of looking for business.
2. Raising service standards
Whenever someone gives you a referral, they’re saying ‘Hey, I trust you to do a good job’ and that they are willing to vouch for you.
Referrals keep you on your toes, and at your best.
Treat referrals with respect and if you get the deal, be sure to do an extra excellent job. Remember that someone else’s reputation, other than your own, is also at stake.
3. Getting clients that you love
You’ll meet clients who hit it off with you, and then you’ll meet some that are just awkward to work with.
Sometimes doing business is like dating.
Chances are, your favourite client would be able to refer you to a friend or contact who is like-minded and you’d enjoy working with.
By developing a filtering method for your referrals, it’s possible to create your dream client base.
This post is also published on ExecutiveLifestyle.sg