Referrals are the best way to do business, bar none. Not only is the time and money in acquiring a new prospect with referrals reduced to almost zero, the new prospects you get are also warm to buy whatever you are selling. Another great thing about referrals is that similar businesses can find ways to work together and increase each others’ customer base just as easy as two businesses with nothing in common can.
I recently traded a few referrals with a local copywriter that I know will work out for both of us. I also traded a few referrals with a local lunch shop is always packed with graduating college students and businessmen on their lunch break. For an update of their business cards, I was able to also convince the owner to let me place my cards on their busy counter top. I buy lunch for clients at his restaurant several times a week and be sure to mention how good an item they didn’t get from the menu is. He more than often sees my client back in his restaurant without me in the weeks ahead.
With the success of these tiny actions, it’s made me wonder why we do any other type of advertising. Sure advertising is good to get your name out to the masses, but without a warm referral, the chances of any single individual who sees your ad actually buying your product or service is far below 10% and often not enough to pay for the original ad. One of the goals I have for this blog is to build up a network of satisfied referrers, that continue to get rewarded for every referral they send my way. I’d far rather pay a referrer who has sent me business in the past than some ad network that shoots ads out of a cannon and hopes I get some ROI.
So to make it official, I’m now proposing a referral partnership exchange. If you are interested in creating a referral partnership with Prevail PR, leave a comment in the post or email me at aaron[@]prevailpr.com. If possible, leave a couple of ideas on how we can refer new clients to each other and I’ll do the same when I get a chance to reply. Be sure to check out our affiliate program to see how you can turn this into some quick cash for yourself, too.