Truth or Delusion? "Unlike cold-calling, the referral process is difficult to measure." Delusion!
"The referral process is about committing to a series of actions designed to create a result, both for you and for the other people involved, and then measuring it and improving the system. As long as you track your activities, it's not that hard to measure the results."
President and Partner of Referral Institute
Using Relate2Profit to specify your relationship with your contacts and to track your activities provides you with the ability to measure your referral marketing effort.
Relate2Profit delivers a clear picture of who is referring you business and how your relationship developed.
Most importantly, Relate2Profit organizes your contacts using VCP® and your referral relationship with them. Use this information to verify that you are spending your valuable time with the people that are producing positive results for you.
By identifying who referred you to your referral sources and clients, Relate2Profit tracks the value of every referral and of every referral source.
In this example, direct referrals from this relationship have generated almost $108,000 in revenue and over $116,000 in total referred revenue.
Tracking this information allows you to reward your referral sources and duplicate your efforts in creating predictable referral income for your business.
...And More Referrals
Over time, each referral can result in additional referrals, which can result in even more referrals when the referral sources involved are recognized and managed proactively.
In this example, the $108,000 in 1st generation referred revenue from the example above is now included in the 2nd generation referred revenue. Why? Because this is the contact that referred us to the contact in the example above!
Notice that 4th and 5th generation introductions have been made, they just have not generated revenue... yet.
Relate2Profit Reports allow you to dive into the details. Every report can be customized with your preferences of display fields and report criteria. Your custom reports can be saved and referenced by all users within your subscription.
The example Referral Tree report shows every referral generated by this relationship along with the revenue that each referral has provided.
Information to manage your time effectively and generate business through referrals!
Relate2Profit offers subscriptions for single-user accounts and multi-user accounts. Users within a subscription share the contact information but have unique relationships with contacts and schedule their own activities with contacts.
Marketing and sales teams can share information among themselves. Team members can set their marketing goals and be held accountable for reaching these goals creating a structured, productive environment.
The selection lists and parameters used within Relate2Profit can be customized to reflect your business model. Activities, Networks and Professions can be added. Sequences of activities that represent your business model can be created to easily assign a series of activites to a contact.
E-Mail marketing can be used in a variety of ways to maintain contact with your prospects and clients. The most effective e-mail campaigns send a specific message to a targeted group of contacts.
Our Business Partnership agreement with Constant Contact® allows Relate2Profit subscribers to easily transfer groups of contacts into your Constant Contact® subscription to support your e-mail marketing campaigns. NOTE: your Relate2Profit subscription does not include a Constant Contact® subscription.
Tracking... why bother?
Because it pays well!