Rewarding Referrals – the Power of Sincerity

When small businesses and high-touch service businesses mimic the referral rewards programs of big businesses, I would argue that they cheapen themselves and fail to maximize the potential yield of their referral sources.

What the heck am I talking about?

I’m referring to the difference between sincere yet deliberate (orchestrated) gratitude and what I call a “transparent referral economy.”

If you’re managing thousands of referrals and referral sources, at some point you may find that you have no choice but to build a simple referral economy. Refer a friend and get $10 off of your next purchase.  Refer two friends and you pay nothing for ….  A referral economy is a publicly stated formula for compensating referral sources.

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Discussing Growth With Your Clients – Smart or Stupid?

If you’ve been following this blog for a while, you know my position on the importance of cultivating referrals – particularly for smaller businesses.

This is a realm of marketing that is commonly overlooked… typically botched… and arguably the highest return marketing activity a company can invest in.  Literally… Infinite Return Marketing when executed properly and consistently.

Yesterday I had breakfast with the owner of a small service business.  As is typically the case, he is not only the owner and manager of the business, but the chief client relationship manager and evangelist for the firm.

The topic of referrals came up, and I was struck by a confession he made. So much so that I wanted to quickly offer up this brief post for anyone else who may also be hindered by his fear. (more…)

Give the Gifts That Give Back

Business gifts just aren’t the same as the gifts you buy for friends and family.  When shopping for your mom, buy her something she’ll love.  Your focus is on her… her needs… what will make her feel good.

Client gifts are different.  Sure, sometimes a nice thoughtful gift is what you need.  But why not challenge yourself to find a gift that gives back?

I’ve never been a Realtor, but I have done a lot of research on lead generation and the customer experience in that arena.

Recently, I was asked the question – what is a good real estate closing gift? A gift for a client after the purchase of a house…

A lot of Realtors engage in the practice of giving these kinds of gifts.  Some are thoughtful.  A new grill… Some are practical (it’s easy to think of things that new movers can use). A gift card to Home Depot… But today’s challenge was to think of a gift that was classy, thoughtful, and ALSO had the potential to give back.

Let me break the suspense… How about a nicely printed set of “We’ve Moved” cards?  People relocate.  They need to tell their friends and associates how to reach them in their new home.

If you’re in high-end real estate, you could dress it up.  Have a line drawing done of the new house.  The original goes in a frame for the wall, and a miniature version on the front of the “We’ve Moved” card.

On the back (in a classy way) goes the Realtor’s contact information and mention of another successful relocation (or whatever).

You could take the idea a step further and offer to have the cards addressed for the client.  All they have to do is give you the list. See where I’m going with this?

This is a gift with the potential to give back.  It has a viral marketing element.  Your client is using this thoughtful gift to spread your name in a favorable light to all of her friends and family.

You’re probably not a Realtor.  So what?  With a few ounces of creativity, I’ll bet you can find a client gift that gives back.  If you’ve got one, I’d love to hear about it.