Why you should not rely on referrals to get new business

Welcome to today’s episode of The Agency Accelerator Podcast.

If you get most of your business from existing clients and referrals then this podcast episode is an important one to listen to.

When I meet a new client or prospect and I ask them how they get their new business they will often tell me rather proudly that they get all of their business from referrals and existing clients and they have no other major business development strategy then they’re in for a bumpy ride. 

In this episode I explore what is wrong with solely relying on this strategy for your business development and why, even if it’s working for you now it probably won’t work for you at some point in the future. So, before you hit a deep famine period you need to put in a more proactive business development strategy that will provide you with a constant stream of ideal target clients.

Timestamp

1.00 Do you get all your business from referrals and existing clients?

1.28 If so you are in for a bumpy ride!

1.51 What is wrong with this strategy?

2.27 You have no control as to when referrals come in, the frequency and their quality

3.17 Making your network your sales team

3.50 What do you do if you need new business NOW?

5.15 The concepts of a sales funnel

6.13 How NOT to use LinkedIn to build business!

7.00 How to sell a bottle of water

7.54 Nurturing your audience through the KNOW-LIKE-TRUST journey

8.27 Many agencies are poor at the middle part of the sales funnel

8.45 The importance of providing value to your audience

9.50 Why providing value 80% of the time and 20% selling is the right balance

10.25 The importance of building your mailing list

10.54 The 3 stages of converting a prospect to a customer

11.29 Why cold outreach doesn’t work

11.50 The importance of your website to generate leads

12.52 How I make this work on my website

13.18 What should you be giving away as ‘gated content’

13.55 The importance of building your mailing list – get started today!

14.25 How to come up with email content ideas (see link below)  

15.00 A simple marketing strategy

16.11 Your customers are ready to buy when they are ready to buy not when you want them to!

16.47 Do a few things really well and consistently – keep monitoring, measuring and refining

18:20 You need to start TODAY!

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Useful links:

Blog on email marketing (you can also download the Content Twister I mention in the podcast here).

Grab a copy of my book (which in itself will provide a ton of value) and see how my email nurturing sequences works.