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The Key to Earning Multiple Referrals - Closing the Referral Loop

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Are you networking effectively? Are you getting all the referrals you need?

Even the best networkers often miss an important ingredient as they try to get more referrals and grow their business. What is that ingredient? Closing the loop.

The most important person in your network is the one who refers you. But too often we as networkers are so excited about our new found opportunity that we run off to connect with our hot new lead and forget to close the loop. Failing to close the loop can instantly block your this new stream of referrals.

Professional networking is a long term effort. It takes time and energy to develop the relationships and trust required to earn someone’s confidence and referrals. The person who hass given you one referral is 10 times more likely to refer you again, and someone who has referred you multiple times should be worshiped! Unfortunately most networkers drop the ball and are never able to get to this ideal multiple, steady referral paradise.

They do everything else right. They follow-up with the referee. They’re polite and respectful and do everything right and ultimately get the business. Then they forget about the most important person in this referral triangle… The referrer.

Keep the referrer in the loop at every step. You want to treat a good referral the same whether you close the business or not. Every chance you get circle back with the person who referred you this opportunity, thank them and bring them up to speed:

  • You reached the person who was referred to you… Circle back with the referrer.

  • You set a meeting with the person who was referred to you…. Circle back with the referrer.

  • You disqualified or were told no by the person who was referred to you… Circle back with the referrer.

  • Your deal is stalled and you need help unsticking it…. Circle back with the referrer.

  • You closed the deal and it’s time to celebrate!!! Circle back with the referrer.

  • The person you were referred to finally says “yes” after 2 years of your trying to get the deal… Circle back with the referrer.

You must close the loop with the person who refers you business. Your gratitude and respect for them will not only build additional trust and confidence, but every touch is an opportunity for them to refer you again. You’ll be able to keep yourself top of mind to someone who has proven they’re willing to refer you.

Don’t forget to look for ways to refer or otherwise help the person who referred you. That’s what networking is all about!

Happy Networking!

Scott Ingram is the founder of NetworkInAustin.com a resource for professional and business networkers in Austin, TX. There you’ll find his blog: Business Networking in Austin Blog where he’s written hundreds of useful networking tips to increase your networking effectiveness and referral stream.

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This entry was posted on Saturday, March 15th, 2008 at 6:31 am and is filed under , , , , , . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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