If there is a common theme that unites every business, it is the fact that we all need customers, and depending on what your business is – some activities to get customers will be more fruitful than others.
You may have a sales team with a cold-calling strategy that makes outbound calls, you potentially have on or offline advertising costs, you could attend events, build email marketing lists and communicate to prospects regularly.
While there are many different ways that you can generate leads, they can all be successful in different ways and to different degrees.
One of the things I am often asked in my line of work is – what is the best way to generate new leads for my business?
Over the years, I have found that one of the more productive and successful sources of business is through a referral system.
A referral can come in many forms – a happy customer tells someone they know about you, or they send you a testimonial that you feature in advertising, social media or electronic marketing, and most people will generate opportunities through the people they meet when you get to practice your “Elevator Pitch” – ( Read: The Perfect Elevator Pitch – Make your business stand out from the rest in 60 seconds )
I want to tell you about a great source of referrals today that you may not have heard of – Business Network International (BNI).
BNI is the largest and most successful business referral organization in the world – and they have a chapter here in Queenstown.
They are represented in over 74 countries and they have over 300,000 members in over 10,000 chapters. Over the last 12 months, the organisation has recorded 12.3 million referrals worldwide and has generated over US$19.2 billion in referral business for its members.
Customers that are introduced to you through referrals come with many benefits, including:
- The lifetime value of a referred customer is 25% higher than that of other customers
- Referred customers have a 37% higher retention rate than other customers
- 70% of consumers say they trust brand and product recommendations from family and friends
If this sounds of interest to you, you’re welcome to join us sometime and experience the BNI referral system in action.
Once a week, local business owners just like you (and I) meet for breakfast with the goal of helping each other grow and improve our businesses.
It is important to note that in addition to unparalleled business growth, BNI members develop lasting relationships that allow them to grow personally and professionally.
BNI is a place to network and pass referrals, it is a place for camaraderie and fellowship through weekly meetings, where you will get to meet and learn from other people like yourself.
You can check out the local group here.
Come along for a visit or two, at no charge. See if the process fits your business goals, and then take advantage of the outcomes from weekly breakfasts, one on one meetings, referrals and increased business.
If you’re interested in attending a meeting in Queenstown, get in touch today and I will help you arrange a visit where you can enjoy a free breakfast on us!
Robin Martin
P.S. This article is part of my Secrets of Success series, aimed at helping business owners and entrepreneurs with some of the key components of business success. The insights I wish I’d had at the start of my business career. I hope that by passing on these little gems of knowledge I can give you some support and help you along the pathway to growth and prosperity.
