One of the most cost effective forms of marketing today is business to business referrals. What makes one business refer business to another? What are the characteristics of a “highly referrable” business? I facilitated an information session today at the Westgate Referral Network exploring these very issue and here is a list of characteristics defined by the group. The question is….. does your business or do you have these qualities?
- Demonstrated capability, skill and experience
- Trust worthy and ethical
- Provide value
- Can do what you say you can do
- Punctual and reliable
- Able to communicate
- Provide complementary services
- Mindful of the trust bestowed on you with the referral
- Conduct your business legally and with integrity
- Know your limitations
For networking to work for your business in the form of referrals you need to be worthy of them and you also need to be giving referrals as well as receiving.