Thursday, March 9th, 2017

How to Turn Your Network Into Cash

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There are two types of referrals in the modern business world – there are those that come from current clients and there are those that come from colleagues or businesses somehow associated with your own.

In order to generate referrals throughout your business network you will have to first make it clear that such things are highly desired, and then you can always offer some sort of incentive.

Let’s first take a look at the way in which most referrals work. When it is a courier service in question, the business owner is going to network with their customers, competition, and businesses with which they do business. This latter group might be those who supply them with shipping materials, office supplies, and even uniforms.

Networking activities are going to be a constant necessity and it is perfectly acceptable for any courier service to indicate that it is always open to new clients or business. This might be through advertising campaigns, emails sent to everyone in the business network, and even printed materials too.

Additionally, it must never be forgotten that the various business and social networking websites can generate a huge amount of attention, business, and word of mouth too.

Any form of communication should mention that referrals from a client will earn some sort of reward. This might mean something like the traditional “refer a friend” rewards that give an actual cash bonus to the customer who generates business. Alternately, it might be some sort of free service when a referral leads to a contract or ongoing business.

But of all forms of incentive, nothing is as powerful as taking the initiative to send someone referrals first. Even if the lead turns out to be cold, the goodwill created when you refer someone to another business in your network can be huge.

Remember that referrals must be a two-way street and if you want professional partners to mention you to interested parties, you have to do the same whenever possible. While these tend to be the less formal referrals, they are often a wonderful way to extend network connections and continually improve opportunities for yourself and others.