Valued Referrals: The Bottom Line

Hello, everyone.  I’m Kristin Young and I am new at Concept Technology – my role is to keep us connected to our community in a meaningful way – which means finding and sharing things that might be of value to business owners and teams.

One of the first things I have learned about Concept is that almost half of our new clients are referred to us, which makes sense.  Whether you want to hire an IT company, an employee, a roofer, or a pet sitter, there’s a lot of trust and vulnerability that plays into that decision making process.   Most likely you will hire through a referral.

Business professionals have tried to uncover just what it is about asking for referrals that is so hard.   Why, we would unconsciously reject the opportunity to grow business and expand our network from the source that produces most of it.

Here’s a great infographic by App Data Room that shows why customer advocacy is so important in new business development.  The key takeaway here is that 84% of clients will take action based on recommendations from people they know—that directly impacts your company’s bottom line.

Relationships

The actual challenge isn’t in asking, but rather in shaping those relationships to allow two-way candidness.  And that comes from letting your customers know your intent to earn valued referrals by providing quality service.

Relationship Audits & Management closes in on eight valuable attributes that cultivate great relationships with client partners, and ultimately open those lines of communication about referrals.  

Over the next few months we’ll be sharing the smartest information we can find about business referrals, evaluation and metrics in the modern world.  We hope we can provide something that helps you and your business.

 

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