5 Steps To Easily Build A Referral Pipeline

by | 4 Sep 23

It’s no secret that referrals are a compelling way to grow your business, and if you want success, it pays to build a referral pipeline. After all, the best customers (those referred) are more likely to convert!

The good news is that cultivating a referral pipeline doesn’t have to be arduous or time-consuming. Taking advantage of some simple steps can speed up the process and make more sales in less time.

First, can you prioritise referrals? While there are many ways to acquire customers, those referred tend to convert faster and stay longer with your brand. Ensure your customer success team is trained to ask for referrals, and always thank customers for referring you.

Second, could you leverage your existing relationships to build a referral pipeline? Reach out to partners, vendors, and other businesses with which you have a relationship. Ask them if they know anyone who may be interested in your product or service, and offer an incentive for making a referral that leads to a sale.

Third, work on building relationships with influencers. Networking and building relationships aren’t just a great way to make connections – it’s also an effective way to build your referral pipeline. Ask influencers if they would refer customers or prospects to your business.

Fourth, use social media to drive referrals. Leverage the power of social media to spread the word about your business and ask for referrals. Ask your followers to share your content, post referral links, or leave reviews on sites like Yelp and Google.

Finally, consider offering rewards or discounts for referrals. This can be an effective way to incentivise customers to refer others to your business. You can even make it fun – create a referral program that rewards customers with discounts or points when they refer someone who makes a purchase.

Referral pipelines are invaluable for business growth. By following these simple steps, you’ll be well on your way to creating an effective referral network and growing your business faster!

Table of Contents

Use these links to jump straight to the part of the article that interests you most.

>Prioritise Referrals
>Leverage Existing Relationships
>Engage With Influencers
>Use Social Media For Referrals
>Offer Rewards and Discounts for Referrals

Prioritise Referrals

Prioritising referrals is vital to unlocking the power of this valuable growth tool. Ensure that your customer success team knows how to ask for referrals, and always thank customers for referring you. Make sure referral requests are prominent in all customer communications, from emails to on-hold messages. Additionally, research ways to track customer referrals so you can reward customers for their loyalty and show them how much you appreciate them. This will not only encourage more referrals but also help strengthen customer relationships and build brand trust.

Subject: The sharing has just started 

Hi [FIRST_NAME], 

Since we first emailed regarding our new approach to meeting with customers, we have attended nearly 200 meetings, and it has been incredible sharing new features, listening to how you all use [COMPANY_NAME] and taking in how we can improve.  

We haven’t finished sharing good news just yet though 😊 We are pleased to share information on our new referral scheme, it’s extremely easy to refer colleagues and even gives you the chance to make [PRODUCT_NAME] even more affordable than ever before.  

Interested?  

All you need to is [WEBSITE_LINK] and complete the short form for each school you wish to refer. For each one that goes on to buy Lexplore, you will receive a £100 discount on your next renewal* and they will receive a 5% discount in year 1. 

Let’s grow together. 

Speak soon, 

Leverage Existing Relationships

Your existing relationships can be a great source of referral business. Feel free to ask them for referrals, whether it’s vendors you partner with or other companies in your industry. Consider offering an incentive such as discounts or rewards for successful referrals. This will make it easier for your contacts to recommend your services and can help you build a strong referral network quickly.

We use a piece of software called VideoAsk to ask for customer referrals. With VideoAsk, we send personalised video messages to our customers, asking them to refer us to their network.

VideoAsk is a critical tool for our referral success.

Personalisation: With VideoAsk, we can address each customer by name and tailor our message. It adds that personal touch that grabs their attention and shows we genuinely care about their experience.

Collecting Feedback: Here’s where the magic happens! We use VideoAsk to collect feedback from our satisfied customers. We ask them to share their experiences with Acceler8, allowing them to showcase their achievements and how our platform has transformed their education journey.

Motivation through Recognition: We leverage VideoAsk to acknowledge and celebrate our customers’ successes once we receive positive feedback. We thank them for sharing their experiences and highlighting how their voice can inspire others to join the Acceler8 family. It’s like giving them a virtual high-five!

But what makes the personalised video approach much more effective than other methods?

Emotional Connection: VideoAsk allows us to establish a genuine emotional connection with our customers. They can see our facial expressions, hear the passion in our voices, and feel the sincerity of our message. It creates a powerful bond that traditional text-based emails can’t replicate.

Stand Out from the Crowd: Let’s face it, we’re all bombarded with daily emails and messages. But receiving a personalised video message? That stands out! It grabs attention, piques curiosity, and makes our customers feel special. They’re much more likely to engage and take action when they know we’ve put in the extra effort just for them.

Engage With Influencers

Influencer marketing is among the most effective ways to build a referral pipeline. Contact influencers in your industry and ask them if they would be interested in referring customers or prospects to your business. Ensure the referral program is designed to benefit both parties and communicate your expectations clearly and mutually. This will help you build relationships with influencers who can give you an edge over the competition.

Use Social Media For Referrals

Social media is an invaluable tool for driving referrals. Post referral links on your profile, encourage followers to share your content and leave positive reviews on sites like Glassdoor or Google. You can also create contests or polls to get more engagement and reach out to potential customers. Don’t forget to thank customers who leave reviews or share your content, as this will help build trust and encourage more referrals.

Offer Rewards and Discounts for Referrals

Rewarding customers for making referrals is an effective way to incentivise them to refer people they know. You can use points, discounts, gift cards, or other rewards to thank customers for referrals. Ensure that the tips are attractive enough and easy to obtain so that customers will be motivated to refer more people and grow your referral pipeline faster.

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