Embed Size (px)
Citation preview
Harvest Business Advisors, LLC Copyright 2006-2009, All Rights Reserved
Referral Marketing
Tony Rushin
October 16th, 2009presented at BizTech in Huntsville, AL
part of Harvest’s “Sharpening Your Business Development Toolkit” session
Harvest Business Advisors, LLC Copyright 2006-2009, All Rights Reserved
Tony Rushin - Background
Harvest Partner since March, 2007 Lead Fractional Executive Services Practice and Business & Partnership Development Part of the Sales & Marketing Practice
First 14 years: Corporate America and Mid-sized Companies (engineering, sales, management, IT, software, telecom)
Last 11 years: Small Companies / Divisions – Entrepreneur, Executive, Consultant
CSO, COO, VP of Sales & Marketing, VP of Business Development
Atlanta Telecom Professionals (ATP)
Technology Association of Georgia (TAG) Board Member – Business & Technology Alliance Committee Member – Excalibur Awards
Harvest Business Advisors, LLC Copyright 2006-2009, All Rights Reserved
Networking / Referral Marketing Defined
How it fits into your Overall Business Development Strategy
The Basics
Some Advanced Topics
Measuring Results
Next Steps
Referral Marketing - Agenda
Harvest Business Advisors, LLC Copyright 2006-2009, All Rights Reserved
Networking / Referral Marketing
Networking: the cultivating of mutually beneficial, give-and-take, win-win relationships.*
* Bob Burg in “Endless Referrals”
Referral Marketing: lead-generation through word-of-mouth introductions from people in your network.
Network: an arrangement of people crossed at regular intervals by other people, all of whom are cultivating mutually beneficial, give-and-take, win-win relationships with each other.*
Harvest Business Advisors, LLC Copyright 2006-2009, All Rights Reserved
How Referral Marketing Fits
Business Development Function
Product Development
Marketing & Sales Tool
Lead Generation
DirectSales
Channel Sales
Networking / Referral Marketing
Accelerates Results
Shortens Sales Cycle
Market Positioning
LeveragesBenefits from Clarity
Influence & Feedback
Customer Service & Satisfaction Access to Channel PartnersAcquisition Targets Potential Buyers Access to Capital
Shortens Sales Cycle
Can help with
Harvest Business Advisors, LLC Copyright 2006-2009, All Rights Reserved
The Basics
“Give to Get” philosophy
Focus on what people care about
Specific is more effective than general
Connecting quickly
Building (or breaking) trust
Targeting where / who to network
More ≠ better
Is “win-win” the same as “tit for tat”?
Hints for working a social network
Harvest Business Advisors, LLC Copyright 2006-2009, All Rights Reserved
Some Advanced Topics
Gate Openers
How / when to quit
Why customers aren’t usually your best referrals partners
Harvest Business Advisors, LLC Copyright 2006-2009, All Rights Reserved
Measuring Results
At a minimum Track closed business and capture
Source of referral Company name, revenue Length of sales cycle
Keep history
Consider measuring Referrals
Prospects Centers of influence
Ultimate referral source Frequency of touches Quality of touches
Set criteria and categorize A, B, C referral partners Roles Relationship owner Who else knows the person Rules of engagement
Harvest Business Advisors, LLC Copyright 2006-2009, All Rights Reserved
Next Steps
Review notes tomorrow morning
Turn “good ideas” into 1 or 2 MMA’s (Monday Morning Actions).
Consider: Networking’s importance to the success of your 90-day, 1-year, 3-year plan What your skill level is and where it needs to be The skill level of others in your organization Your other commitments What you can do this week to claim a success
Act (understanding ≠ doing)
Harvest Business Advisors, LLC Copyright 2006-2009, All Rights Reserved
Questions / Comments
Tony Rushin770.418.1324
Harvest Business Advisors, LLC Copyright 2006-2009, All Rights Reserved 11
A Growth Strategy Management Consulting Firm
