I am always looking for new guidance on how to increase referral rates. Different tools and systems have varying degrees of effectiveness, but I have yet to find a really good system that delivers a continual stream of referrals automatically. If you have such a system, please let me know as I would love to include features of it in our 4MySales.com marketing system.
In spite of not having a good cohesive system that automatically sends a continual stream of referrals into your in-box, there are a lot of good techniques out there. Here is a pretty good article on Marketing Profs entitled "Marketing Challenge: Three Ways to Catch Clients" that goes over the basics of referral marketing and provides some good guidelines on how to increase referral collection rates.
Also, a good technique that is being employed by local builders in our area is that they have created referral brochures. These brochures contain information about the builder and on the back are pre-perforated referral cards. The visitor to the development hands out the referral cards to their friends who may be interested in a new home. When the referral walks in with the referral card, the sales agent attaches is to the referral's paperwork. If the referral buys a home, both the referral and referee get $500 gift certificates. Variations on this type of referral system can be very effective.
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