Referral Marketing: Building Bonds

I am glad to be back on the blog trail again! Traveling for fun and for promoting The 29% Solution has kept me away for too long!

Today, I wanted to share with you my thoughts on building bonds with those referral sources in your network.

I spent this past weekend together with my BNI Director colleagues at a retreat center in West Virginia. All of us help to develop the BNI region of Western PA. Once a year, our Executive Director partners, Bob Schmitt & Deanna Tucci Schmitt, pay for us to go on a retreat together for two days.

Initially, I always secretly complain about having to give up time away from my family, my business, and a precious weekend day! However, it never fails that I laugh so hard throughout the weekend that I'm reminded why I enjoy being a part of this group. Yes, we spend most of the time working ... not only on BNI but on our own businesses as well. That's a great opportunity! But, the best part of the entire weekend is the time the group spends playing together, teasing each other, and building bonds that will transcend our businesses. The wacky scavenger hunt throughout the property has become legendary (see the picture s... I shall protect their identity for their own sake!). Game night is also very competitive and full of excitement.

The true wealth of the weekend can be seen when we work to help each other, support each other, and look for business opportunities for each other. This doesn't just happen with people! Building bonds that get to the level of friendship secure a strong team. Deanna & Bob know that and I commend them.

How well do you know the people that you want to pass you business?

Referral Marketing: The Recession!

Now more than ever, it's critical for you to become a truly effective networker in order to thrive during these recessionary times. Networking in order to develop key relationships is the most cost effective way to generate new business. No matter how bad times get, people will always turn to networking as a way of keeping them and their business visible in the community.

People (including your customers) tend to want to stay close to home when the times get tough. With respect to networking, that translates to people wanting to do business with those closest to them. Closest to them personally and sometimes, geographically.

It's no secret in referral marketing that people choose to do business and give business to those they know, like and trust. I find it very interesting that the largest networking organization in the world, BNI, has thrived during every recession it has experienced. In fact, it's current motto is "I refuse to participate in a recession!" Dr. Ivan Misner, founder of BNI, has said that people seem to find "networking religion" when times get tough.

People who have been successful at building deep, long lasting relationships will thrive throughout this period. People who have developed extensive databases of contacts with no real substance to the relationship, just might find it more difficult to get people to help them. If that's the case, consider it a wake-up call and begin developing relationships that truly mean something to both parties!