How to Generate More Leads: Leveraging LinkedIn for Referrals (Guest Nedra Rezinas)
SHOW NOTES:
Contact and Follow Nedra Rezinas: LinkedIn - Instagram - Website
Nedra's Classes: LinkedIn Masterclass - Referral Partners Workshop
FREE Download - Referral Tracker
Forbes Article Mentioned
Small Business Design Center: National Website - Portland, OR Website
Get the Balance Right Podcast Episode 10 - How to Strategically Use LinkedIn with Deborrah Ashley a.k.a. the LinkedIn Blackbelt
Stacy Brown Randall - Generating Business Referrals Without Asking - 5 Steps to Generate Referrals
John Ruhlin - Website - Giftology Book
CONTACT HEATHER:
Zeitzwolfe Accounting: Website - Facebook
Contact Heather: Instagram - LinkedIn
Book a Discovery Call (via Zoom) - Click Here
Heather & Get the Balance Right - Link Tree
Set up a strategy session with Heather - HERE
The Magic of Referrals
If you’re an entrepreneur, especially one with a service-based business, then I’m sure you’ve discovered, landing a new client can be very costly. In fact, data shows that acquiring a new customer can cost five times more than retaining an existing one. But let’s face it, to grow your company you will generally need to acquire more clients. To reduce these acquisition costs, one of the most effective methods is through referrals. According to the Harvard Business Review, referred customers can increase your profit margin by 25%. They also noted that customers who found businesses through word-of-mouth, tend to spend about 200% more than other customers.
Here are some other interesting statistics regarding referrals:
92% of consumers trust referrals from people they know.
Friends’ social media posts influence the purchase decisions of 83% of US online shoppers.
Consumers referred by a friend are four times more likely to buy.
B2B companies with referrals experience a 70% higher conversion rate.
These are powerful numbers. The question is, are you utilizing referrals as effectively as you can be?
Interested in being a guest on the podcast? Do you have a podcast and would like to invite Heather Zeitzwolfe to be a guest? If either apply, please fill out our guest request form.
For the topic of this episode, we are exploring the magic of referrals and how to use LinkedIn to leverage this. To dive into this subject we are joined by the marketing strategist and consultant, Nedra Rezinas. Besides being a LinkedIn expert, Nedra educates entrepreneurs through her online classes and through the Small Business Design Center in Portland, Oregon.
If you're an entrepreneur, then you've discovered how long it takes to acquire a new client and how costly it can be. By effectively utilizing referrals, you can significantly decrease these costs and shorten the time between prospect to buyer. In this episode, you will learn results-driven methods to generate referrals, which can be implemented in your business today. Are you effectively utilizing referrals? If you’ve been struggling to get more leads, this episode is for you.
Four Important Steps for Getting a Referral
Referrals can come in different flavors, such as verbally from a friend or through a post by an influencer. Referrals can come free or be compensated, such as affiliate marketing. Depending on your type of business and industry, one might make more sense over another.
But how does one get referrals?
According to an article in Forbes, there are four important steps.
The first is asking for the referral right after you make the sale.
The second is to ask that person again for another referral. This may sound pushy, but according to this article although some folks might get irritated by this, surprisingly many will immediately comply.
The third step is to make the referral as easy as possible by sending them an email referral template. The customer can either use the template to send to the referred person or create their own. But in providing the template, you make it easier for them to actually send the email to their friend.
Lastly, step 4 is to close the loop by thanking them. The article suggests that once you’ve made a sale with the referred party, that you have them send an email to the person who referred them. It may not seem like an important step, but it can make a big difference.
If you try this four-step method, I’d love to know how it worked. Please send me a DM on Instagram, I’d love to hear about your results.
Tools Heather Recommends…
Miro Virtual Collaborative Boards
The online collaborative whiteboard platform to bring teams and ideas together, anytime, anywhere.
Do You Want Hassle Free Payroll?
Gusto is a great solution! Use this link and receive a $100 Amazon Gift Card when you sign up.
Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you.
