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If a friend in sales were to help sell me...

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Hi there...

 

I have a friend who is in sales (very different from my business and it is her full-time job), B2B sales - which is my market as well. I meet with her next Monday and I'm thinking that I will ask her to pass along my business card when she's meeting with clients who she thinks might need my services.

 

So, I've been tossing around ideas about how I would pay her or provide an incentive for her to do this for me and I would like to be more creative than just - i'll give you a commission if... I also want to give her something that she can give the customer that will provide extra incentive to actually call me and use my services.

 

This is where I would like input from you. so far, my thoughts include:

 

For my Sales-friend - give her % of any sale I make from someone she referred

should I make this a high % so she is more inclined to refer me??? What could this look like?

 

For the customer she refers me to - I thought of making a special business card that would say something like 'present this and receive ??? off ???' ... or something like that. Maybe a tent card? or just a double sided biz card?

 

Do any of you have more creative ideas than what I'm coming up with? I would sure appreciate your time with any new ideas! Thank you so much!!

 

Andrea

lexabi.com

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Hello Andrea,

 

In my experience, I usually put Affiliate program(for online referrals) and Refer -A-friend program(offline referrals).

 

In your case, which is face-to face meeting and can be under Refer-a-friend. You would be a great idea if you started with a fixed commission than percentage.

 

Hope it helps.

 

Thanks,

Ron Oliver Clarin

www.RonOliverClarin.com

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I'd run the figures and look at all angles as you put together referral plans and/or affiliate programs. If you're paying out a percentage to the sales rep AND giving a discount to the new client, how much is left for you to have a profit? Is it truly necessary to give so much away? Be certain that you can still make a profit in the end.

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If you really want to give discounts you could give your friend a percentage of each sale. Maybe give her some business cards to hand out. Whenever someone contacts me I ask them how they found me. So you could find out if she referred them to you just by simply asking the prospect. You could also write a code on the business card that is linked to your friend and tell people to mention it for a special rate. Ultimately you don't even need to give them a special rate because they have no idea what your actual rate is.

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I give 25% to the referrer off the first invoice they pay (be it a monthly retainer or a project based job). Now I never thought of making a special business card, flyer with coupon on it or something like that they could give out. That is a great idea! You could even stamp these cards or flyers with the referers name so you know to thank them with their referral fee (good way to track it and maybe encourage them to give them out). Hmmmm....if this friend is going to market you a bunch, maybe make some flyers/brochures up with her pic on them too saying I'd love to introduce you to my friend, Andrea, yada yada. If her pic was on it she may be more inclined to give it out too (funny how that works a bit on the person's ego seeing their pic on a flyer, especially if it is one they like LOL).

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Guest

Good advice... thank you. I have decided not to give a discount to the referred customer - I agree, it's too much plus could cheapen my brand. Just something to my friend to provide incentive as well as 'reward' for referring me. A fixed amount is good, but what if I offer her $100 for every referral and then half the referrals only spend $100 with me... although that's probably not highly likely... I guess I was looking for something more creative but perhaps that is not the way I should consider this. hmmmm, still pondering... :lightbulb:

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That's a cool idea, Tawnya, thanks! I meet with her today so I'm going to run some of these ideas past her and see what she says.

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Does the referral bonus need to be monetary? Connect with the right wholesaler and you may find flowers, chocolates, wine, or fruit baskets to be affordable alternate choices for a referral thank you.

 

If the prospect signs a contract for 3 hours of service at $40/hour the total is $120. You pay out $100 to the referrer. Are you interested in $20 gross profit with the reality of $15 being your net profit when you take out your operational costs? The referrer bonus should be in proportion to what's being purchased, IMO. For this scenario a 10% referrer bonus is $12. So would you give a $12 thank you check, a $15 gift card, or purchase an alternative gift that is hard to pinpoint a price? It's really up to you and what net profit you're seeking PLUS the long-term earning potential projection for that newly acquired client.

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@Candy - when you say 20% of the first 3 months - does that mean they get 20% on everything that referred client gives you for a 3 month period or just on the one (or first) sale?

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