Being that we are in the midst of March Madness and Spring Break, we could talk about basketball or beaches but instead I thought we should visit about the current times we are living in.
While the year began well for the majority of people I have spoken with, things seem to have slowed down again, with a few exceptions. I am certainly not here to belly ache about it and not sure I can explain it, but I know the economists (who are a heck of a lot smarter than I am) have told us the economy is already on the way back. So why did a group on the internet find it necessary to launch an initiative earlier this month to stimulate referrals to small businesses called “make a referral week?”
I think it is because in the new economy we are living in: referrals are the way to find the business that is out there. For those who love to cold call, we have a case in point to share with you that may be familiar. We are in currently following up on a direct mail campaign to our demographic target market that has a high likelihood for need of our services. The two most common responses we have gotten are:
“I have not seen your direct mail pieces but even if I had, I would not have read them!”
“I could probably use your help but _____________ (insert your favorite excuse here. No money, waiting until the economy gets better, sticking my head in the sand for awhile…)”
Yes, we know the rates of success with cold calling but this exercise has been good for us.
It has cemented our belief that by investing in relationships with exceptional referral partners. We find it is the best way to get to the decision makers with the credibility and concrete examples of how you have helped clients with similar issues to theirs.
So, while things may be a bit slower right now, take the time to further cultivate your relationships with your referral partners. It is work and takes commitment, but there is business out there. We have experienced and heard numerous success stories of how an excellent referral or introduction has made the difference between getting the deal and being a pedestrian in the crosswalk. Now, if we could only find an easier way to fill out our brackets…