Posts Tagged ‘referral services’

What are referral services? A business may used this paid service to refer to them direct prospects that are actively seeking the company’s product or services. You pay a bit to have a service tell you who is looking for what you have. This can increase your ROI over cold calling, and should be used to gather new clients.

Most of these services, however, especially those that supply non-exclusive leads, leave a lot to be desired. I’m sure that almost everyone has had the problem of buying a leads list that has already been called on by the competition four or five times already, leaving both those prospects and your sales force feeling both annoyed and let down. Which is why choosing the correct type and kind of referral services for your company is of paramount importance.

Paying money to try different things might work eventually, but it works better for you if you have some basic data about your prospective referral service beforehand.

Where do they get their leads? From their own marketing efforts, or from an amalgamation service (takes leads/info from lots of sources and puts them together in one searchable database, like Monster) or are the leads supplied in some other fashion? To how many of my competitors have these already been sold, or will be sold to? Does this service have some sort of refund policy? When and how often will you be provided with new leads from them? (Not the best choice having a service that supplies 200 fresh leads once a month if you have 5 salesmen to support). Will this service support me in other areas? (A client referral program for example..) Will their referral services be able to expand and grow to support more demand from me, as and when I need it? What are their current clients’ conversion ratio’s, for a similarly priced product or service as yours, when you are the referral services leads?

These and questions like them may seem too simple, but many people using a service just forget common sense after they sign on. Decide on whether to use a service by applying the most basic form of business equation – will I make more by buying and using this, or not? Then apply the same basics to whether or not the service is right for you – Will I get what I pay for and need from them?

 
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