Create a Power Team to Drive More Referrals

Referral sources are a great way to get customers without spending advertising dollars. Some business owners belong to formal networking referral groups such as BNI and others have a "loose" or informal referral network. If you want to optimize your referrals and don't belong to a formal networking group then build your own power team.

First, think about complementary businesses to your own that focus on the same customer segment. For example, complementary businesses for a wedding planner would be a florist, a cake bakery, a printer, a photographer, a travel agent, etc. Then list all the complementary businesses to yours as well as the owner contact information.

Second, contact the owner of the first complementary business and tell them you want to build a power team to help drive referrals between all the owners on the list. Ask them if they will become part of this formal power team. You need their commitment that they will promote the services of all the power team members to their customers that need the power team members' services. Continue contacting the owners until you have a solid power team.

Third, you should plan to bring the power team members together at least once a month if possible to connect or the power team will lose steam. You should also ask members to track referrals from power team members so you'll know which power team members are contributing. If a power team member continues not to contribute then you need to let them know they are replaceable.

And last but not least, celebrate the referral success that your power team achieves! Thank the members and consider a prize or reward for the top referral producer to drive competition and motivate the rest of the power team to give more referrals.