Referral Marketing: Strike it Rich!

Have you ever struck it rich with referrals? Well, if not ... you can!

Western Pennsylvania is known for its coal mines. The basic concept of mining (be it coal, gold, silver, etc.) is to find a vein of the product underground and follow the vein through the earth to extract the riches that are embedded within it. A good vein will continue to go on and on and on, producing far more than what could have been imagined.

You can have this same success with referral marketing by literally mining a vein of referrals. Maybe you've experienced this in one form or another. Imagine getting a referral that leads to another ... that leads to another ... that leads to another ... and so on. Or imagine developing a relationship with someone that opens one door, then another, then another, then another ... etc. Get the picture? When you mine for a vein of referrals, you're looking for the relay effect. You're looking for someone who can refer you over and over again. It's important to remember that not everyone has this potential!

Mining for referrals takes precision tools, focus, and application. For me ... Referral Institute provides the tools and focus and BNI provides the application. That's why I love teaching the Referral Institute programs and why I am an active member of BNI. Both serve me very well.

Where do you find your tools, focus, and application? And ... are you using your tools correctly?

Referral Marketing: The Lone Traveler

About a week ago, I traveled to San Diego for the International Conference of BNI. One of the most uncomfortable things for me when I travel alone is eating alone. It feels so strange and in some way vulnerable because everyone around can see that you're traveling alone.

This time, I had a long enough lay-over in Detroit to have dinner. So, I decided to go to a restaurant for a sit down meal. As I scanned the place, I found another woman (in her late sixties) also sitting alone. I decided to take the table next to her in order to strike up a conversation. Joanne and I had a wonderful chat. We learned alot about each other in a relatively short amount of time. It was fun. We both enjoyed it and really liked the fact that we didn't have to actually eat alone.

There are alot of people out there traveling alone when it comes to their business. It's an uncomfortable and lonely place to be. Most of us need people around us to fuel our creativity, energize us when we're low, and kick us in the butt when we need it. That's why I surround myself with exceptional people! I have a business coach ... several referral partners ... a dynamic BNI chapter ... a fantastic financial advisor ... a trusted CPA ... to mention a few. In some ways, traveling alone with your business can expose you to danger that you can't even see yourself.

Are you traveling alone? I hope not. If so ... it's time to make a change and stop eating meals by yourself!

Referral Marketing: The Mosaic

The best mosaics I've ever seen are in Sicily! There are huge cathedrals lined on the inside with miniature tiles intricately placed to form massive works of art. It's breathtaking!

However, when you step in close to the walls and focus on one tiny tile or piece of tile, you really don't see much at all. It's just a piece of ceramic stuck to a wall. But ... as you step back for the panaramic view ... the beauty hits you like a ton of bricks.

You might think of referral power teams as being similar to mosaics. Imagine if you have 3-4 people all committed to helping each other's business and all serving the same target market. It would be like having 3-4 rolodexes of potential prospects just waiting for you.

The interesting thing is ... individually, on the surface, you don't see much. They each seem rather ordinary and getting ordinary results. But when the group works together in harmony, side by side, capitalizing on each others' strengths, and leveraging the force of friendship ... the referral results can be spectacular ... nothing short of a lifesize mosaic!

Please share you referral power team success stories!

Referral Marketing: Thanks & Giving

A wonderful holiday is upon us ... Thanksgiving! It's a time when people travel far and wide to be surrounded by family. It's a time when the national speed dial button to mom is working overtime. It's a time to reflect on what you have in your life ... what & who you're grateful for ... where you've come and who helped you get there!

Referral marketing's foundation is relationships. People. People. People. It's the most human way of doing business. There are two driving principles of referral marketing ... thanks and giving. Thanking those responsible for referring you will help to motivate that person to continue doing so. Everyone likes to know that they are appreciated and valued! Giving back to those people solidifies the relationship.

Giving is a much bigger word than it appears! Yes, you can give referrals to others. That's a no brainer! But, it's so much more than that!! Give support ... help people meet their goals ... give your time ... give your energy ... give your knowledge & ideas ... make introductions ... volunteer to help their causes ... give freely of yourself to those who truly deserve your attention.

Take time during this season of reflection to genuinely thank those who have helped your business to grow. Reflect on what you have given to others and how you can continue to do so even more creatively.

Referral Marketing: Zebra Stripes

Zebras ...

From a distance, they all look the same! Is it a white background with black stripes or a black background with white stripes? Regardless, they all have stripes. They all have four legs, two ears, two eyes, etc. From a distance ... they all look the same.

When you get up close and personal with a zebra (like on Animal Planet) you can easily notice that indeed they are NOT the same. They each have a unique stripe pattern, like a fingerprint! So, what's the big deal?!

I talk to people all the time about expanding their network of referral sources. For example, I tell people that it's great to know more than one financial advisor. But, some people get hung up on that idea. They say things like, "how can I build a relationship with more than one financial advisor?" "What if one finds out that I gave referrals to another?"

From a distance, all financial advisors might look like zebras ... all alike. In reality, they're not. As a referral source, it's my job to be able to recognize their unique patterns and refer my client or family or friend to the person that's BEST suited for them. If I have the right financial advisors in my network ... they will thank me for sending them the right kind of referral ... the highest quality referral!

Learn to see the real zebra through the stripes!

Referral Marketing: Captain's Inspection

Have you ever watched the pilot of your aircraft perform the "pilot's inspection" of the plane before the passenger's board? I did the other day as I waited in Detroit for a flight to San Diego.

The pilot walks completely around the aircraft inspecting and checking for anything out of the ordinary. They look for things that seem to be out of place or just not right for some reason. Doing so not only gives them the confidence in knowing that they have performed their task fully, taken the safety of their passengers seriously into consideration, and met an airline standard ... it also completes the process. Completing the process is necessary for all parties involved.

In networking, we have to continually complete the process. Every time we meet with someone, there's usually some way that we shoud follow-up that meeting. It might be with a thank you card; it might be sending an article; or it might be making a connection. Whatever the next step ... the process is not complete without it. Like mom used to tell us ... "clean up after yourself!" That was her gentle way of teaching us how to complete the process.

How do YOU complete the process?
Do you have a system?
If so, we'd all like to hear it ... share your stories!

Referral Marketing: Wine Making

I love wine!

A few years ago, I started making my own home-made wine. I'll be bottling a batch of Pinot Noir in about 7 days.

Wine making is a process that takes time, energy, and patience. It's actually one big science experiment! It's takes precision with a subtle hint of experimentation. A seasoned wine maker knows to keep a wine log that outlines the process each time in as much detail as possible. They know that keeping good records is one of the only ways that you can duplicate a successful batch of wine. If you don't know what you did to make it turn out so well, you can't recreate it. On the other hand, if you do ... you can.

Referral marketing is no different. I tell people all the time that they can control the flow of the referrals they receive. The only way you can do that is to know exactly what you're doing to generate frequent referrals in order to duplicate it over and over again ... perhaps even with a second referral partner! Keeping accurate records of your networking activities will help you create your success system. Networking activities might include things like (ie. who you're networking with, how you're educating them, what your giving to your referral partners, and where you're networking ) to name a few.

My recommendation is to begin systematizing your referral marketing efforts. Begin recording your experimentation so that you can recreate your success in the future.

Referral Marketing: Networking Lessons from Mom

I wrote an article last week called, "Five Things You Learned About Networking from Your Mother". It was a fun article to write and especially share with my mom. Here's one of her lessons:

"Walk, don't run!"

I used to hear this phrase no matter where we were … in the house, in the grocery store, in the mall, in church, and even at school! As a kid, I was always in a hurry to get to the next exciting thing around the corner. I couldn’t wait! There always seemed to be someplace more interesting than where I was at the time. My attention was short and my mom was trying to teach me patience.

Patience is a virtue when it comes to networking. A fast paced networker misses the true essence of the event and could very easily blow right past a tremendous opportunity. Fast paced networkers tend to build shallow relationships that offer little or nothing of value to your business. On the other hand, patient networkers build deep, long lasting relationships that significantly impact the growth of their business. Establishing a network that has depth far exceeds one that is shallow and frail.

If you want to read the rest of the article, you'll have to visit my website: http://www.pinnacletrainingservices.com/ and click on Michelle's Articles! Enjoy and remember to thank your mom!

Referral Marketing: Meeting Johnny Angel

Earlier this week, I was delivering a presentation for the Penn State Alumni Business Group at the Atria's Restaurant at PNC Park. This was one of those memorable speaking opportunities that cause you to just shake your head and remember why you've got to be prepared for absolutely anything!

From the very beginning, I knew it was going to be an interesting evening. First, there was no connection cord for the projector and computer. Not good. Once we had the cord, we had a difficult time getting my computer to speak to the power point projector. Not good. Then, we needed an additional extension cord since there was no power strip for the computer to plug into. Once we got the whole thing working and the power point was accurately displayed, the LIVE music began in the restaurant!! Oh and did I mention that there was no microphone ... for me!! And, no door on the room we were in! So, I now had to compete ungainst a good singer in the next room who did have a mic and a guitar. Knowing this was not going to work out well ... we sent out the search party to find a mic. Now, I have a microphone with a very short cord ... hard to reach the computer to switch slides, but doable. I managed and the audience enjoyed the session.

At the end, this guy comes up to me and says, "Is everything okay with the mic?" I said, "Everything's great ... we're done." He said, "Great. Oh by the way, I'm Johnny Angel." As I shook his hand, I said, "Wait ... THE Johnny Angel?" He said, "Yeh, I own the place." Wow ... I'm talking to Johnny Angel.

As I drove home, I called my mom, who I knew would appreciate the fact that I had met Johnny Angel. She was shocked and said "you never know who you're gonna meet!" She asks me one thing .... did you get his autograph?! Nope. Forgot to ask.

My mom's right ... when you're networking, you never know WHO you're going to meet!! I recommend that you carry a pen and note pad incase it happens to be Johnny Angel.

Referral Marketing: No Parmesan?!

This past weekend, I attended a Murder Mystery Party at my friend Deanna's house. This was our fourth annual party with a murder theme held around Halloween. The usual gang attended only this year, it also included Elise and Tom.

As to be expected, everyone arrived in character, ready for the game! If you look at the picture, it was a quite a rowdy group. As wine bottles were opened, clues were laid, suspects defined, and alibis plotted, the game got interesting. Then came dinner! We were having a wonderful steak salad when towards the end of the meal, Deanna shouted ... "Oh no, I forgot the parmesan!" ... which was to be added to the salad for enhancement! What! NO PARMESAN?!

Having NO parmesan on your steak salad is like going to a networking event without a GOAL!!

You certainly don't NEED a goal for each networking event, however, it sure does enhance the results!! Most people arrive at a networking event dressed in character and ready for the game. And the majority of people don't have a specific goal. Therefore, their experience is usually quite haphazard. If they're lucky, they'll make one really good connection. If they're not lucky, they'll leave saying, "well this was a waste of my time!"

Having a goal helps to ensure that you're focused at the event and driven to meet that goal. The outcome is deliberate, not left for chance ... thereby enhancing your results. Like the parmesan cheese, nobody will know it's missing ... however, if you had it, it would add flavor to the event and make it more meaningful for you.

So the next time you go to a networking event, don't forget the parmesan!

Referral Marketing: Set High Standards

People that know me know that I have high standards. Basically, I expect the best that people have to offer. When it comes to me hand picking my referral partners ... I make no exception. After all, these are the people I want to be marketing my business on my behalf ... as good if not better than I can do it myself!

Tonight, I had dinner with someone I targetted as a potential referral partner from the minute I met her. Her name is Andrea Marquis ... a Sales Consultant for PAYCHEX. She calls herself the payroll "superhero"! She's currently enrolled in my Certified Networker class and all I can say is ... she gets it!

Andrea is a mover and a shaker. She's driven, focused on the goal, and intent on serving her clients with utmost professionalism. She's no nonsense, decisive, and ruled by integrity. She's willing to give others opportunities (and has already done so for me) ... practicing a "givers gain" philosophy. All of these are great qualities in a referral partner!

In addition, I like her as a person. We had a great dinner and if she's to become a referral partner, I'll most likely have many more dinners with her ... so it's important to me to want to become friends.

Why do I tell you all of this? I want you to think about what qualities are important for you in a referral partner! You shouldn't take in just anyone off the street. Your decision will seriously impact your business. My decision to include Andrea is going to positively impact my business and her business equally so. I'm looking forward to it!