I have been working on this one for decades. This will be on the SRT website sometime this week, but I couldn’t wait to share it.
I was compelled to put this together for many reasons. The most important was so that the right professionals could understand what a complete referral system should look and sound like.
I am tired of referrals being regulated to something that we say we believe in…and then we spend all of our marketing money on things that are less effective and far more expensive. Ironically, with the rise of AI, the time for referrals (aka word of mouth) is here.
Strategic Referral Team Methodology:
The Strategic Referral Team Methodology differs from more traditional referral marketing tactics by focusing on long-term strategic relationship building, strategic networking, and a holistic view of business growth rather than simply asking for referrals or implementing short-term referral campaigns.
1. A complete methodology that integrates referrals into every aspect of the business. We know and answer the three key questions in business:
a. Why should I meet with you?
b. Why should I buy from you?
c. Why should I refer you?
2. Focus on a referral culture: We emphasize creating a “referral culture” rather than just trying to earn referrals at the end of a sales process. We advocate for making referrals a core part of one’s entire business mindset and approach.
3. Self-Growth: Referrals are the only form of marketing that, when done well, requires personal development. Referrals only scale as well as you do. Leadership, EQ, sales skills and psychology are only a few of the areas you will need to truly capture the massive opportunity that only referrals can deliver. This absolute requirement to improve yourself is also why it isn’t for everyone.
4. Strategic and calculated: While SRT believes in being warm, personable, and spontaneous, we stress the importance of being strategic and calculated about investing time in referral relationships. In our system, time is the essential measurement, not money.
5. Emphasis on giving referrals: We explicitly discredit approaches that focus solely on getting referrals and give ‘lip service’ to giving. We instead continually develop intellectual property focused on teaching people how to give referrals, believing this creates more sustainable referral networks and better adherence to the system.
6. Targeted approach: We believe that having a well-defined target market improves referral effectiveness. Our system primarily focuses on who will refer to you, not just who can refer you.
7. Concierge mindset: The foundation of our system encourages becoming a “concierge of problem-solving contacts” and being a go-to source for solutions, not just focusing on direct business referrals.
8. Values-based relationships: Our methodology requires building authentic referral relationships based on genuinely caring for people and enhancing their lives, whether they become clients or not.
9. Comprehensive system: We teach and consult on a complete referral system that you can predict, providing a more systematic and replicable approach to referral marketing.
10. Integration with exit planning: Our founder, Mike Garrison, uniquely combines his referral expertise with exit planning for business owners, using his CEPA (Certified Exit Planning Advisor) credential to offer a more comprehensive service to clients and referral partners.
What do you think? At the core of my being, this is what I believe about referrals and what I believe about humanity in marketing.
All the best and tight lines,
Mike
