How to Find the Right Referral Partnerships for Both of You

You’ve realised the value of strong referral partners. These are referral partnerships that will consistently drive business in your direction and continue to increase as time goes on and the partnership grows stronger. You want that ongoing, mutually beneficial relationship that you put just as much into as you get out – you’re looking for the right referral partner.

Now the questions is: who is the right referral partner for your business? It comes down to a lot of factors, here are some tips to help ensure you start building the right referral partnership for both of you.

Where are your gaps? – What products or services do you not offer that your existing clients benefit from? Or what products and services could enhance or compliment what you offer

List the advantages for this referral partnership – Partner and highlight the precise benefits for them to partner with you. There are several reasons for this: First, you should always be in the mindset of how can I help you? If you can’t think of a good list of benefits for your potential referral partner – then either they’re not the right partner, or you’re only thinking of yourself. Secondly, once you identify the ways in which a partnership could benefit them, you want to have these benefits ready and at the forefront of your mind when you speak with them.

Who are they online? – Google the services in your area you’d like to partner with.  Take a close look at how they’re represented online. You’ll learn a lot from how they utilise social media. If you connect with who they are online, you can know there’s a strong chance that they have excellent marketing skills which could help you and your business. Don’t underestimate the value of a positive online presence and how it can impact your success with cross promotions. On the other hand, if there are risks in the potential partnership – you’ll likely sniff them out through their social media presence and see the reputation risk before you partner up.

Ask for recommendations from those you trust – what services or business do those who you trust work with? Ask them for their recommendations and what kind of experience they had with this business or professional. If it’s someone or a business they speak highly of, then you’ve likely found a strong referral partner.

There are many things to consider and act upon, but these should give you good start.