March 18, 2022
5 ways to grow your business through Referrals

Do you have a referral program in place? Referrals are one of the best ways to grow your business, and there are a few different ways you can go about it. In this post, we’ll discuss five ways to grow your business with referrals and how you can implement a referral marketing programme to grow your business by being part of a professional networking and referral group.

1. Referrals can help you reach new customers.

Referrals are a great way to reach new customers – especially if they’re referred by someone they trust. According to a study by Nielsen, 84% of consumers trust recommendations from friends and family more than any other form of advertising. This means that if you have a good referral program in place, you’ll be able to reach more people without having to invest in traditional marketing methods.

2. Referrals can help you attract high-quality leads.

When you get referrals from people who know and trust you, they’re more likely to be high-quality leads. This is because the person who’s referring them has already vetted you to some degree, so they’re more likely to be a good fit for your products or services. Referrals can save you time and money by helping you attract better leads.

3. Referrals can help you build relationships with influencers.

If you want to grow your business, it’s important to build relationships with influencers in your industry. And one of the best ways to do that is through referrals. When you get a referral from an influencer, it shows that you’re someone they trust and respect. This can help you build a relationship with them that can lead to future opportunities.

4. Referrals can help you get word-of-mouth marketing.

One of the best things about referrals is that they can lead to word-of-mouth marketing. When someone recommends your business to their friends or family, it’s essentially free advertising. And since people trust recommendations from their friends and family more than any other form of advertising, this is a great way to boost your reputation and grow your business.

5. Referrals can help you improve your customer conversion and retention rate.

Keeping customers happy is key to growing your business. And one of the best ways to do that is through referrals. When you get a referral from a current customer, it shows that you’re doing a good job and that they’re satisfied with your products or services. This can help you improve your customer retention rate and keep your business growing.

Many people think that the best way to generate referrals is through random chance or luck. However, if you want to increase your chances of getting more referrals, it’s best to join a professional membership-based referral organisation.

BNI is a great way to learn how to make referrals part of your marketing strategy and get more business through word-of-mouth marketing. With BNI, you’ll be able to connect with other business professionals in your area and learn from each other how to generate more leads and close more sales, members report extremely high conversion rates for referred customers which gives you more time to work with the right type of customer referred by a trusted source. So if you’re looking for a better way to get referrals, BNI is the perfect solution for you.

By joining BNI, you will gain access to a powerful marketing tool that can help you increase your referrals and grow your business. BNI is the world’s largest referral marketing organization, and its members have access to a global network of like-minded business professionals. BNI also offers its members exclusive access to quality leads and referrals. If you are looking for ways to grow your business, BNI is a great place to start.

Here are the Top 5 reasons members say motivated them to join BNI.

1. BNI provides a structured system for networking and referral building

BNI is all about relationships. The structure of the organization enables members to get to know each other and build trust, which is essential for effective networking. BNI members are also held accountable for their actions, which encourages them to follow through on referrals and build long-term relationships.

2. BNI members are pre-screened for quality

All BNI members must go through an application process in order to join. This ensures that only serious professionals are admitted into the organization, which raises the overall quality of the membership. In addition, BNI chapters are limited to one member per industry, so you can be confident that you’re getting high-quality referrals from your BNI chapter.

3. BNI provides training and resources for generating referrals

BNI is committed to helping its members generate quality referrals. The organization offers a variety of training and resources, such as workshops, online tools, and marketing support. Weekly chapter meetings also share referral skills. But the first training members undertake, the Member Success Programme, sets all new members up with the skills needed to start generating referrals to grow your business.

4. BNI offers a supportive community for referral builders

The BNI community is one of the most supportive around. Members are always happy to help out their fellow members and share their own tips and tricks for generating referrals. This sense of camaraderie makes it easy to get started with BNI and encourages members to stick with the program long-term.

Each BNI chapter has a mentor coordinator and new members are invited to participate in the BNI “Passport to Success” programme – a 12-week hands programme where members of the chapter mentor each new member on success skills for referral generation.

Ongoing mentorship supports members to maximise their referral opportunities, no matter what their referral skill level. Chapters measure their performance and assist all members to meet minimum standards. Success in BNI is a collective effort – its a community seeking to lift every member up.

Visitors to all BNI chapters are warmly welcomed by members. The organisations’ philosophy is “Givers Gain” so the chapters attract business people who want to see others succeed. Members know the success of any chapter lies in the way they treat people, including visitors. BNI recognised this early on in its development and trains visitors hosts at every chapter, so whether you’re a competent networker or the perennial wallflower, you’ll always have a warm welcome at BNI.

Visiting is free (just the cost of breakfast for some chapters) and everyone is welcome. The first step is to reach out to our team to arrange a personal invitation.

5. BNI has a proven track record of success

BNI has been around for over 37 years and has helped millions of professionals grow their businesses. The organisation has a wealth of experience and a proven track record of success. BNI members can rest assured that they’re in good hands and that they’re making a wise investment by joining BNI.

In 2020 BNI took over 10 000 weekly chapters online in the space of a week – a phenomenal feat! Members were able to rely on BNI to generate business, even during the toughest time. One of the core values of BNI is “Traditions + Innovation” and out of this global challenge, BNI now offers 3 types of weekly meetings to suit every business owner’s needs:

1. Fully in person

2. Fully online

3. Hybrid – a mix of some in-person and some online meetings

Joining BNI is the best way to build ongoing referrals from quality contacts. The organisation provides a supportive community, pre-screened members, training and resources, and a proven track record of success. If you’re serious about referral building and growing your business, BNI is the place for you.

The first step is to visit a chapter and see whether BNI is right for you. BNI Melbourne Central offers a concierge service to help prospective members find the right chapter to visit and apply to. As Australia’s most successful BNI region, BNI Melbourne is looking forward to helping you find a group that suits.

Posted by Braith Bamkin. Executive Director of BNI Melbourne Central

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