Referral Marketing: Approaching Profitable Partners

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Referral Marketing: Approaching Profitable Partners

Partners can be one of the most effective ways of getting new business. You can exchange customer lists, refer each other to your contacts or simply brainstorm strategies that would get new business for both of you.

Customers referred to you by partners tend to turn into sales much more easily and will stay with your company much longer.

Similar to sending personalized letters, you need to build a contact list first.

To begin with, think of all contacts you know already – who targets customers but is not a competitor of yours?

Here are a few ideas:

  • Go through your mobile phone address book
  • Consider all your suppliers
  • Think of which of your customers would actually have contacts to their friends who would also like to benefit from your products
  • Talk to members of your associations and various organizations
  • Look at your customers’ “watering holes” and list those you’ve dealt with personally before

So this is the list to start off with. However, as you approach people you know already, always ask for introductions to their friends in similar industry or with similar interests who could also benefit from cooperation with you.

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