Acquiring new business for free

Most small and medium businesses acquire new business for free. They just don’t know how much.

Imagine how much more they could acquire if the free process was systematized, formalized and supported with resources. I’m not talking about advertising (very expensive), flyers (cheap but ineffective) or emails (free but drowning in the noise), I’m talking about referrals.

Think about it. When you are looking for something important – a car, dentist, lawyer, interior furnishings, a contractor who actually shows up – you usually ask your friends or family for who they recommend.

When I survey a client for a strategic assessment on how much they invest in various marketing and promotion activities, and which are most effective, referrals come in on top for effectiveness in 83.3% of the time and have zero dollar investment.

Here is the process: ask your customer.

“Mrs. Customer, who do you know anyone else that would benefit from our services in the way that you have?”

When you have a great relationship with your customers, it’s a good idea to ask for a personal introduction so that you are not perceived to be making a cold call.

Your customers aren’t your only source of referrals, either. You deal with a variety of business people and other vendors who have their own customers and clients that would also benefit from what you do. In business, it’s fair game to ask your accountant, lawyer, banker, insurance broker, financial planner if they have any clients who you could help. At home, you can ask your plumber, yard guy, electrician, carpenter, painter, even the mailman, for referrals.

Referrals let you help your friends and associates achieve the same level of value and success that you have received from your provider.

So, if you know anyone who would benefit from my services to help them dramatically grow their business, increase their profits, build their equity and increase their wealth, please let me know. They will be very happy that you did. Thanks!

Copyright 2010. All Rights Reserved. Phil Symcych