- Jordan, Luke, Jake, and James want to grow their businesses but are facing challenges hiring new salespeople.
- My Company is proposing to build a custom "Referral Engine" using each company's customer base and strategic partners to generate leads and opportunities, acting as a sales team.
- The Referral Engine will work to cultivate leads and opportunities from the existing customer community and strategic partnerships both online and offline.
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Business Development: Referral Engines
1. Each on of these guys wants to grow their business.
Jordan would like to hire a salesperson but needs sales revenues to pay for it. Hence, a
chicken and egg dilemma.
Luke and Jake have hired salespeople before but experienced little to no production.
James has money to hire a salesperson but has yet to do so.
2. My Company, Butler Services
Group, is working to build a
custom “Referral Engine” for Luke,
Jake, Jordan and James as an
alternative to hirering new sales
people.
This Referral Engine will take
each companies Customer
Community and Strategic
Partners and turn then into a
willing and happy sales team
that produces Leads and
Opportunities.
3. Accounts are businesses who have paid
Luke, Jake, Jordan or James in exchange
for their products or services.
Contacts are human beings that
Luke, Jake, Jordan or James work
with at these businesses who pay for
services.
Strategic Partners are
companies who serve
Accounts and Contacts that
fit Luke, Jake, Jordan and
James’ Ideal Customer Profile
and do so in a complimentary
way.
4. Leads are Human beings
whose behavior indicates
that they are interested in
a particular companies
products or services.
Opportunities are any sales
deals that need to be tracked
and closed.
With a Referral Engine, Leads and Opportunities will be purposefully
cultivated from a companies existing Customer Community and Strategic
Partnerships.
7. Its important to make it easy for the customer community and strategic partners to tell
other humans about how great Luke, Jake, Jordan and James are. To do that we need to
build out the above infrastructure.
8. This chart shows how many Accounts and Contacts each
business owner has.
Its important to know how big your customer community is
and to have as much intelligence about them as possible.
# of Accounts are the Left Column
# of Contacts are the right Column.
9. This chart shows how many Strategic Partnerships each business owner currently has.
The more strategic partners the better. But remember, business owners should think
of what they can do for their partner first…and think of what is in it for them second.
10. In theory, strategic
partners will produce more
Leads and Opportunities
than the Customer
Community. Yet, both are
important to a well oiled
Referral Engine.
11. This is a timeline that shows the life cycle of the “Ideal Customer”
The Ideal Customer is well defined by the Customer Persona that was
mentioned earlier as part of the infrastructure.
12. A “Referral” happens when your Customer Community or Strategic Partner lends his/her
trust in the business owner to a Lead.
When this happens the “KNOW” and “LIKE” stages in the life cycle are bypassed and the
“Risk” of doing business with the business owner is dramatically lessened.
13. Why a Referral Engine? Well, compared to a sales team, Referral
Engines are less expensive, less risky and have absolutely no time
capacity. A well oiled Referral Engine works 24/7.