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Top Referral Generation Strategies To Boost Your Sales

Top Referral Generation Strategies To Boost Your Sales

Referral generation can be a game-changer for your business. The need to have good bonds with a community that always supports your business and will be the first one to refer you to a customer is real. 

Referral generation can double or even triple your profits as more people will get to know about your brand through the word of mouth being generated in the market.

A happy customer also might be your major source of generating referrals. In this blog, we’re going to discuss a few potent referral generation strategies that can help you generate more leads and sales.

Know your referral generation sources

Keep a check on your referral sources and how these referrals are affecting your sales. You need to keep a record so that you can evaluate your performance. 

As soon as you find a business that you feel could be a great collaboration, just ask them for referrals toward the end of your meeting with the company.

Convey your requirement for referral generation

When you are in the process of closing a deal with a client, make sure you let them know how important a referral is for you. 

If they are happy with your product and service, it would become easier for you to ask them for referrals as it would have already been discussed at the time of the contract.

Referral Exchange

It is always a good gesture when you provide referral exchange for companies that could do the same for you. This is where the business relationships would reflect. 

This would not only increase the company’s trust in you but will also make them refer you in exchange for services that they think you are good at.

Focus on Ideal Clients

Being a business, you are well aware of the clients you would want to target. You need to be sure of what your ideal clients are and express the requirement to your clients who will be generating referrals for you. 

This will save your time in pitching to the right audience instead of trying to seal the deal with the wrong ones.

Know Who Could Generate Referrals

Make sure you know the audience you are working with. To get the right referrals, it is important to know which clients you need to network with to get the expected outcome.

Always be a part of these networking gatherings as it will help you get your hands on the best referrals for your company.

Show Them Your Gratitude for the Referrals Provided

It is always important to be courteous toward your clients who are generating referrals for your company. You can send them flowers as a token of appreciation, or a thank you note to let them know how much this business relationship means to you.

Fuel Your Referral Generation Strategies With Nuop

Nuop makes tracking and exchanging referrals fast and easy. Designed with speed and simplicity in mind, it was created by real-world entrepreneurs to service nearly every industry.  Learn more about our referral exchange here.

Why wait another minute?

NuOp is a referral processing utility that makes exchanging referrals fast & easy.  Business Professionals who send lots of referrals usually receive lots of referrals.  Use NuOp to make you and your business well known.

5 Actionable Tips To Super-Charge Referral Marketing For Your Business

5 Actionable Tips To Super-Charge Referral Marketing For Your Business

Good Job!

If you are here reading this post, then we can safely assume that you are looking to boost your referral marketing efforts.

Congratulations – That’s a great decision!

Considering that referrals are four times more likely to buy from you than a traditional lead, leveraging this word-of-mouth marketing is the best decision that you can take for your business.

Let’s jump right into the 5 Easiest and Most Actionable things you can do to Super-Charge Your Referral Marketing Efforts.

 

1. Create a Friendly Post-Purchase Relation with your Existing Clients

Your existing client base is the Stepping Stone to build an expansive referral database.
So the first step is to ensure that you create a solid Post Purchase Relationship with your clientele.

Here are a few action steps to do so:

  • Start with a Thanks – Never start pitching referrals right after the sale. Instead, thank them for choosing you (Via a Thank you page if online or a card if offline), and offer a support contact ID they can reach out to in case of any queries.
  • Check-In – Create a referral email sequence where you check-in to see if they are happy with their purchase to send them E-Mail blasts for their birthdays with special offers
  • Follow up for Referrals – Once the rapport is built with your existing clients, you can send them an email sequence requesting references of their associates who might be interested in what you do.

 

2. Socialize To Create and Expand your connections

This is the fun aspect of referral marketing.
Referrals are found amongst the people you know, so why not take steps in getting to knowing more people and maintaining relationships with your existing connections?

Socializing is a great way to do this. It is simple, it’s fun and it is extremely rewarding.
All you need to do is never say no to invitations – Be it a housewarming party, a picnic, a book reading – Make yourself available for social calls.

Make sure to be a gracious host too – Invite people to your own special events and always make it a point to take the contact details of anyone new you are meeting.

 

3. Use Referral Networking Sites and Applications like NuOp

Digital Channels have literally made it possible to connect with anyone and everyone, across the world.

Use Networking sites like LinkedIn and NuOp to build connections that matter.

NuOp, in particular, will allow you to be the person that another business will think of if they have a client looking for a service in your niche.

If you use NuOp articulately, you are just one connection away from landing your next client.

Why wait another minute?

NuOp is a referral processing utility that makes exchanging referrals fast & easy.  Business Professionals who send lots of referrals usually receive lots of referrals.  Use NuOp to make you and your business well known.

 

4) Maintain Relationships with your Vendors and Industry Leaders

Be sure to maintain a healthy relationship with all your marketing partners – Your vendors, distributors, and any third party agencies you are working with so that you will be the first person they’ll think of every time they see a potential client.

Also be in regular touch with the influencers in your industry, aside from knowing they are also powerhouses of the right connections.

 

5) Be Pleasant and Approachable

Now, this is one soft-skill that is a must for referral marketing. People need to be comfortable approaching you in case they have any queries or if they want to share leads.

You do not need to be an extreme extrovert to be approachable, just be pleasant and welcoming so that anyone can approach you without any hesitation.

All charged to build your referral marketing plan?

Tell us in the comments below which action step resonated the most with you!

Why wait another minute?

NuOp is a referral processing utility that makes exchanging referrals fast & easy.  Business Professionals who send lots of referrals usually receive lots of referrals.  Use NuOp to make you and your business well known.

The Importance of a Collaborative Community for Business Success

The Importance of a Collaborative Community for Business Success

A collaborative community is when different companies in an industry, or across industries, proactively work together to achieve shared goals and outcomes, to solve mutual challenges, and to leverage cooperative opportunities in an atmosphere of trust, respect, understanding, and sincerity. 

In this article, we’ll talk about the importance of building a collaborative community to ensure mutual success for businesses.

Importance of a Collaborative Community

Collaborating with another business can help your company to become successful in many ways, including:

1. Exchange of Ideas

You can come up with different ideas that might not have been possible if your team was working on it all alone. Sometimes collaborating with a different business helps companies to brainstorm with diverse and creative minds. 

This creates a group of ideas that can be effectively used to market the business or produce more products effectively. As a result, you directly increase sales and profits at both ends.

2. Mutual Corporate Benefits

A collaborative community works together as one team, even if this includes different brands and businesses. The community understands that the success of one business would be a success for their company as well. Eventually, all companies collaborating contribute to the overall success of the industry. 

When a business comes across complications that impede it from accomplishing its goals, the other business may be able to assist. Moreover, partnerships, alliances, and networks are more potent than companies that function independently.

3. Different Experts Under One Roof

Each company has its experts and experience. Therefore, in a collaborative community, the various experts of different departments or businesses work together toward a mutual goal. It encourages people to continuously apply their unique skills to solve shared problems. 

As a result, a collaborative community makes it possible to achieve an objective that cannot be attained by one person or organization alone.

4. Learning Experience

Building a collaborative community ensures all members work together and learn from the achievements and failures of one another. Every company works differently and has a different ideology, bringing unique and different ideas to the table. 

This gives other businesses, especially startups and small companies, an opportunity to learn from the senior players and enhance their skills.

5. Accelerated Business Procedures

As many people work together focusing on a common goal, it fast-tracks all business procedures. Every member of the collaborative community works efficiently and leverages their knowledge, tools, and technologies to produce results at a faster pace. 

Moreover, collaborating with other businesses can give you the advantage of more funding opportunities in addition to making a bridge for more brand exposure.

6. Referral Generation

Once companies start working with one another, they create close-knit relationships. Creating an authentic and mutually beneficial relationship helps both sides to spread the honest word of mouth. 

A collaborative community also nurtures referral exchange and builds a thriving referral network. Through organic referral generation, companies can reach a larger market, directly increasing their benefits and growing as a business.

Build A Collaborative Community With NuOp

It is a win-win situation when companies collaborate for achieving a mutual benefit or goal. Business tools like NuOp can help collaborative communities interact professionally and keep a check on all the business opportunities that can be used for their growth.  

NuOp gives professionals tools to exchange client information and communicate with one another. It’s a simple tool to track and exchange business prospects with speed and ease. Get in touch now to learn more about how we can help you with referral generation.

Why wait another minute?

NuOp is a referral processing utility that makes exchanging referrals fast & easy.  Business Professionals who send lots of referrals usually receive lots of referrals.  Use NuOp to make you and your business well known.

NuOp for Referral Marketing

If you are looking to set up a solid referral marketing campaign in your company, NuOp is here to help you out!

Our Networking Platform will allow you to build relationships that will help you leverage the right referrals for your business needs.

Your profile awaits you

NuOp is a simple tool for business professionals to track and exchange referrals with speed and ease.

Why wait? Sign Up NOW!

Referral Marketing is Ruling The Charts!

Referral Marketing is Ruling The Charts!

Ever wondered how most of us make our buying decisions?

Think about it for a moment…

You want to buy a car – Do you trust the AD in the newspaper or the recommendation from your brother?

You want to try a new restaurant – Do you trust the banner on Youtube or go to your best friend for her suggestion?

You are looking to invest in a house – Do you go for one of the cold-calling real estate agents or would you prefer an agent recommended by a friend?

You are looking to hire a new employee – Will you go through endless resumes or consider a trusted colleague’s reference?

That was not a tough game, was it?

If you found yourself going with the second option for most questions, you are not alone.

Numbers Don’t Lie: Referral Marketing is a Massive Hit across all Industries

 

A whopping 92% of consumers around the world say that they trust word-of-mouth or recommendations from friends and family, making Referral Marketing the most Influential Form of advertising.

After all, why wouldn’t you trust a recommendation from someone you know?

Referrals Versus Leads: Who is Easier To Close

A lot of marketers make the mistake of using referrals and leads interchangeably.

That’s a major (and quite common) misconception – Referrals are not leads and leads are not referrals.

A lead is a prospect who has come in touch with your business through various sources – A contact form, a Facebook AD, or by building a prospect database.

Leads are generally not expecting your call – For Eg, if you run an insurance agency and you have been handed out a database of leads of potential buyers – The buyers don’t really have an idea about what you do or your service.

Even if the prospect has voluntarily given out his/her contact details through a Facebook AD – Maybe to download a free lead magnet, they are interested in the information rather than a sales call.

You need to do a lot of “warming up” before you can close leads – Add them to an E-Mail Sequence, schedule follow-ups for a preliminary call, etc.

The sales cycle for a lead is comparatively longer and has a lesser success rate than the sales cycle of a referral.

Here’s why: A referral is a person who has been recommended your product/service by someone he knows.

So he is already in the market looking to buy, he already has some trust built due to a recommendation – You probably need to answer a few of his questions to close the deal.

The sales cycle here is way shorter, and the conversion rates much higher.

This is precisely almost every company across all sectors is Implementing Referral Marketing Programs to leverage its sales.

If you are yet to implement a referral marketing program within your company, you can stand to lose a goldmine of the easiest sales closures.

Why wait another minute?

NuOp is a referral processing utility that makes exchanging referrals fast & easy.  Business Professionals who send lots of referrals usually receive lots of referrals.  Use NuOp to make you and your business well known.

NuOp for Referral Marketing

If you are looking to set up a solid referral marketing campaign in your company, NuOp is here to help you out!

Our Networking Platform will allow you to build relationships that will help you leverage the right referrals for your business needs.

Your profile awaits you

NuOp is a simple tool for business professionals to track and exchange referrals with speed and ease.

Why wait? Sign Up NOW!

February 1st, 2021 Product Update

February 1st, 2021 Product Update

The Timeline 

You asked for it, so we created it! With the timeline you are now able to stay connected and be up to date with all of your opportunities. Once you award or get rewarded an opportunity you will be able to message your referral partner back and forth. The reason you can only message each other once it is awarded is because we do not want you to get solicited by other candidates about your opportunity. It would just not be right if we allowed that on NuOp because we like to hold ourselves to a higher standard. We also made this feature very user friendly so that all you have to do is click on your awarded opportunity and it will open right up to the timeline (see image below).

New Features for Opportunities

 

Referral Counts –  On your profile you will see sent and received referrals. The only referrals that will tally are the ones that have been awarded. We did this because you deserve credibility for all the opportunities that you send and receive. 

Auto-Connect – When a member claims an Open Opportunity the sending and receiving party will automatically be connected. 

Direct and First come, First served Opportunities – These opportunities will expire after 14 days after submission if they are not awarded to a candidate. This prevents NuOp getting backed up with old and unclaimed opportunities because we want you to see the best opportunities first! 

There are no limits on NuOp. So please try out the new features and feel free to contact us because we would love to hear your feedback and suggestions.

Desktop 

New Features

  • Referral Counts only Tally Awarded Opportunities
  • Auto-connect Members upon claiming Opportunities
  • Addition of the timeline for messaging
  • Direct and FCFS Opportunities expire in 14 days after submission

Bug Fixes

  • IOS Redeem referral field missing. That has been fixed. 
  • IOS shuts down when changing company info.That has been fixed 
  • Profile images distorted. That has been fixed.
  • Sent referrals not showing up in list view. That has been fixed 
  • Open Opportunities  Missing City. That has been fixed 

Cosmetics 

  • “Forgot Your Password” was missing. That has been added. 
  • Improved display of Get Connected Card. 
  • Referral Status Filter button updates.
  • Updated Invite & Earn Pages. 
  • Update Really link to NuOp link. 
  • IOS Clickwrap update on IOS