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Customer Referral Services – Getting Back to Basics With Marketing
By admin | July 2, 2009
What are referral services? A business may used this paid service to refer to them direct prospects that are actively seeking the company’s product or services. You pay a bit to have a service tell you who is looking for what you have. This can increase your ROI over cold calling, and should be used to gather new clients.
Most of these services, however, especially those that supply non-exclusive leads, leave a lot to be desired. The problem of buying a leads list is that has already been called on by the competition four or five times already. Which is why choosing the correct type and kind of referral services for your company is of paramount importance.
Simply throwing money at something will work, eventually, but it works quicker and better for you if you have some basic data about your prospective referral service beforehand.
Where are these leads generated from? From their own marketing, or from an amalgamation service such as Monster, are the leads supplied? How many other companies have these already been sold to? Does this service have a return policy? On what timeframe will you receive new, fresh leads from them? (Not the best way to go if 200 fresh leads are provided once every month if you have 5 salesmen who require daily leads). Will this service support me in other areas? (A client referral program etc..) Will this referral service be able to support more demand from my company when the time comes? What are their current clients’ conversion ratio’s, for a similarly priced product or service as yours, when you are the referral services leads?
These and questions like them may seem obvious, as they are the questions you should be asking all your suppliers on a monthly basis, but too many people using a service seems to touch an “I trust You” button that makes common sense go away. Decide on whether to use a service by applying the most basic form of business equation – will I make more by buying and using this, or not? The same basics apply to whether or not the service is right – Will I get what I pay for and need from them?
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