Referrals can be lucrative

Referrals can be lucrative … for everyone involved

Referrals can be lucrative

We all know referrals are a great way to get new business. And best of all, if someone refers you, then they have already endorsed you by doing so.

One of the best places to look for potential referrals is your own customer base. Some host agencies have figured this out and have put programs in place to help you promote referrals and reward customers who refer clients.

Some of these programs are a lot better – and more effective – than others, so be sure to ask about this when you are comparing host agencies.

Not all of your customers are going to be good candidates for referrals. But some could be a gold mine. For example, if you have customers who are influential in the community, leaders of associations, or members of clubs, churches, synagogues or mosques, who can recommend you to their fellow members or followers. This can lead not only to individual bookings, but potential group business as well.

It is probably best to identify among your clients – or your friends, for that matter – who best has the potential to refer new business to you. Do you know a golf pro, a personal trainer, or someone who’s active in a group?

Of course if you get a referral today, you likely thank the person who referred you with a thank you note, or a gift card, or perhaps a bottle of wine.

But some host agencies have taken this a step further and have reward programs for customers who regularly refer new clients to the agent. It can be run like a loyalty program. If your customer is sharing in your success in some way, or building credits or rewards for themselves, they will be more motivated to keep up the referrals.

Look for a host agency that has an easy solution for rewards for a dedicated referral advocate. If this is at a cost to you, consider it a cost like marketing, but a very effective form of marketing – one that you only pay for when it delivers you new customers!

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