Tag Archives: networking

Still Need Reasons to Believe in Referral Marketing? 15 Facts About Why Referrals Matter for Your Business

Who doesn’t love hearing about a great product or service from a trustworthy source? And who could you trust more than your friends and family? People have made purchasing decisions, done business and developed preferences for centuries based on the power of word-of-mouth.

We are social beings and exist in community with one another. People seek truth and share their opinions on what they’re buying and using, they want to share the value they are getting. And whether they share their opinions online or offline – you want your customers to share them so they can create real value for you and your business. If you still don’t believe referral marketing matters for your business, or you underestimate the power of a good referral, you need to read through these marketing statistics.

·      Millennials ranked word-of-mouth as the #1 influencer in their purchasing decisions about clothes, packaged goods, big-ticket items (like travel and electronics), and financial products. Baby Boomers also ranked word-of-mouth as being most influential in their purchasing decisions about big-ticket items and financial products.

·      84% of consumers reported always or sometimes taking action based on personal recommendations. 70% said they did the same of online consumer opinions.

·      Word-of-mouth has been shown to improve marketing effectiveness by up to 54%.

·      91% of B2B buyers are influenced by word-of-mouth when making their buying decision.

·      61% of IT buyers report that colleague recommendations are the most important factor when making a purchase decision.

·      56% of B2B purchasers look to offline word-of-mouth as a source of information and advice, and this number jumps to 88% when online word-of-mouth sources are included.

·      On social media, 58% of consumers share their positive experiences with a company, and ask family, colleagues, and friends for their opinions about brands.

·      72% say reading positive customer reviews increase their trust in a business; it takes, on average, 2-6 reviews to get 56% of them to this point.

·      88% of people trust online reviews written by other consumers as much as they trust recommendations from personal contacts.

·      68% trust online opinions from other consumers, which is up 7% from 2007 and places online opinions as the third most trusted source of product information.

·      74% of consumers identify word-of-mouth as a key influencer in their purchasing decision.

·      79% of people say their primary reason for “liking” a company’s Facebook page is to get discounts. 81% also said they’re influenced by what their friends share on social media.

·      66% of respondents under the age of 34 are likely to give a referral after receiving social recognition.

·      More than 50% of respondents are likely to give a referral if offered a direct incentive, social recognition or access to an exclusive loyalty program.

Statistics provided by the follow sources: Ogilvy/Google/TNS, Nielsen, BrightLocal, MarketShare, Software Advice, Market Influence.

Using Your Networks More Effectively

In this ‘Get More Referrals Today’ podcast we include a live zoom training audio on how to use your networks more effectively.

In this extended podcast we looked at our networks and some simple plans that we can use to engage with them and begin conversations to create more opportunities.

Remember to grab our ‘Building Your Million Dollar Referral System’ Guide here – www.michaelgriffiths.com.au/guide

Remember to subscribe to us on…




The Referral Network On Facebook


LinkedIn: How to Grow Your Network With the Captive Audience You Could Be Missing

When it comes to LinkedIn, the age-old cliché is right – You never know who you’ll meet.

LinkedIn is a powerful networking tool for so many reasons. But what’s one of its best features? The fact that you can see exactly who’s been checking you out with one click of a button.

It’s great flattery when people are viewing your profile and piques all of our interest, but the problem is – this is a huge opportunity to expand your network – but unfortunately, most people don’t do a single thing with the information. And you’re missing out.

So how can you start making some new connections and grow your network? It’s just an easy start to a conversation. When someone has viewed your profile, and you’ve checked them out and find there could be some mutual benefits to connecting and growing each other’s networks, your only goal is to have your connection request approved.

You won’t have or want to do this with every person who views your profile (that’ll get exhausting), but when you find someone who you genuinely believe you could help each other out, reach out.

This is an easy message to send and your next best step is to do a little detective work yourself to find out more about the person so you can reach out with a personal message when you request a connection.

Start things off with a simple introduction, try to include something that you might have in common and ask how they came to view your profile. This part is important and often overlooked, but you want to know exactly what brought them there, and it’s perfectly fine to ask. Here’s an example:

Hey Jamie,

My name is Louise, and I’m a Sydney-based freelance writer. I’m always looking to expand my network of contacts (especially with fellow UNSW alumni!). I noticed you visited my profile on LinkedIn, what brought you by? Did I do something?   

I’d love to connect with you here. Looking forward to keeping in touch and finding ways to help each other out.



And it’s that simple. This message does more than strike up a generic conversation; it asks the person to explain exactly what they were interested in. Knowing this provides you with a clear foundation and direction for the relationship or potential next interaction. Which is where it all begins.

I Love Bots and Automation BUT It Will Never Replace the Need Still for Human Contact… Here is Why

Make sure you subscribe to get great small business marketing tips, video’s and how to’s on referral marketing, using your business networks better and creating partnerships to fill your sales funnels. Great for any coach, consultant or professional service business.

Remember to jump into the ‘ Referral Network’ group on Facebook and create new opportunities with great business owners. www.facebook.com/groups/michaelgriffiths

Remember to Subscribe to our YouTube Channel right here for more great coaching.

Remember to grab your copy of the Referral Game Plan at www.referralmarketingguru.com.au/gameplan

Who is Michael Griffiths? Michael is the founder of Referral Marketing Guru & the #1 authority on referral marketing training around the globe. He speaks some 60+ times just on referral marketing and partnerships and runs the leading referral marketing training program to help you build your own Million Dollar Referral System. He encourages active networking in BNI, Chamber Of Commerce and Referral Groups to build your own referral teams.


Accelerator #5 Of The Million Dollar Referral System: Maintain Engagement With Your Networks

We all have a network, how well we use them or how much opportunity we get from them is another question.

I feel that this is a lost opportunity for the majority of coaches, consultants and professional service businesses.

In this ‘Get More Referrals Today’ podcast we explore what we could be and should be doing to maintain engagement with our networks.

Remember to grab our ‘Building Your Million Dollar Referral System’ Guide here – www.michaelgriffiths.com.au/guide

Remember to subscribe to us on…




The Referral Network On Facebook

The 3 Whys of Every Successful Strategic Partnership

While some entrepreneurs may be hesitant to partner with other companies due to fear of misalignment, not a balanced relationship or a branding disaster, it can actually be quite beneficial if done correctly. Forming the right strategic partnership can increase your efforts in two essential areas of the business — credibility and distribution.

Be clear on your why. Often people enter into strategic partnerships because they don’t feel they have enough value on their own. Coming from this place almost never creates a mutually beneficial relationship. This is not the recipe for success.

Be clear on the value you bring to the table. Be honest about why you’re interested in creating a partnership and what you bring to the table. Be able to answer the following: “Why does this relationship benefit my professional and personal growth?” “What value do I offer to this potential partnership?” and “What do I expect to gain from this partnership?”

This is not a time to hash out your business plan or a mission and vision statement. If you don’t have clear answers to these questions, you’re not in a position to create effective connections.

Do your homework. Do not pass “go” until you have these answers covered.

Understand the why of your potential partners. Don’t hesitate to ask a potential partner why he or she is seeking to connect and what he or she is hoping to gain.

The answers are not always clear at the outset. Listen carefully to what the other party is saying. Do you have the right chemistry and a shared vision to make this relationship mutually beneficial?

If you sense resistance or a lack of clarity, postpone any decision making until your questions are answered completely and you’re confident this relationship will be profitable and beneficial to you both.

Do your whys match? Seek commonality and a shared vision. Do you see this partnership as boosting the vision of both sides? Do you share the same excitement and passion for what you do and how you want to grow?

Certainly everyone comes with different strengths and weaknesses, however, the best partnerships work because the vision and values are shared as well as passion and enthusiasm. These can carry the partnership through any sticking points in negotiations. Remember, the best partnerships work most smoothly when each party’s strengths shore up the connection to create elevated and shared success.

Source: https://www.entrepreneur.com/article/234425