The Importance of Having a Business Referral Network
Join a referral network and open yourself up to an array of business opportunity. Rather than if you were to go it alone! In this network, professionals collect as a group of complementary businesses. The benefits are seen from white-collar to blue-collar. People from all industries collaborate and experience the benefits of word-of-mouth advertising.
“Business is not always about WHAT you know, but WHO you know”. And that’s what makes referral networks like these so important. An established network opens the door to valuable contacts. Ones that may have previously been out of your reach. They can also raise your business profile and make you more visible in your community.
Benefits of an Established Network
A professional referral network, like ProNet, comes with additional benefits to meet-and-greet events. Businesses gain access to skilled marketing and higher quality leads.
No one wants to give a personal reference to a valued client that fails to meet their expectations. This means that a carefully curated collection of members is invaluable. ProNet takes on the work of cultivating a reliable group of professionals. Our Board of Directors and members have weekly meetings, to build trust and dive deeper in to each other’s needs. More informal referral networks don’t provide this level of understanding and depth.
Improved confidence
It’s undeniable that as a business owner you have to talk to new people and build connections. If you struggle in this area, then a referral network is perfect for you! Connect in a welcome setting with other professionals and improve your confidence. Many people build long-lasting friendships from professional networking opportunities.
Cost Savings
Like most business strategies, referral networks come with a cost. Fortunately, membership fees don’t compare to the return on investment. The ROI with a referral network is much larger than other strategies and is paid quickly! Other professionals recommend your business, which reduces your marketing budget dramatically. Additionally, omit time spent on cold-calling, door-to-door tactics, and costly advertising campaigns. A great referral network can mean more business and less overhead.
Research-Backed Results
You may be thinking, “This all sounds great, but will it actually improve my business?”. According to many studies, the answer is a resounding yes! Sarah and Paul Edwards reveal this in their book, “Getting Business to Come to You”. In fact, 50% of people make decisions based on word-of-mouth from friends and family.
The Sandler Sales Institute verifies this fact. The study reports that referral marketing results in new sales 80% of the time. Comparatively, only 5% of deals are closed with cold calling. Thus, referral networking is a valuable marketing tool to have.
Join the Biggest Business Referral Network in Dallas Today!
If you or someone you know would like to share their business with others, meet like-minded professional, or gain more business, you’ve come to the right place! Become a member today. Or check out our upcoming events right in your community. We’d love to you at ProNet, The Professional’s Referral Network.