Building a Strong Referral Network
There are two, equally important sides to what you will build with the myfriendsinspain Referral Program.
Firstly, of course, the network of clients that will enjoy the service and use it frequently.
And secondly, the network of collaborators or referrers, the people that will help find those clients above.
In this section, we will explore the crucial aspect of building a strong referral network.
By mastering the art of developing a robust and relevant referral network, you will enhance your chances of success in the myfriendsinspain Referral Program and maximise your earning potential.
Understanding the Power of Referrals
Client referrals are a powerful tool in the world of marketing.
Word of mouth provides a unique opportunity to leverage existing relationships and tap into the trust that individuals have for their friends and acquaintances.
When people hear of a product or service from someone they know, that has bought or used it, they are naturally more inclined to trust that opinion.
All myfriendsinspain clients are invited to join the Referral Program – and if they came via your link, they can only be assigned into your network once they accept.
Building a strong referral network allows you to extend your reach to the right kinds of potential clients, generate interested contacts, and ultimately increase our chances of converting those contacts into loyal customers.
Identifying Potential Referral Sources
Your network is the large net you throw out to gain as many relevant collaborators as possible that join you in spreading the word to the right kinds of potential clients that will use our services.
Before diving in and building a referral network, it is crucial to identify potential and relevant referral sources. Don’t fill your network with irrelevant people that won’t take action or use the service, quality over quantity will gain better results for all.
Sources can include people you already know, such as existing customers, friends, family members, colleagues, industry partners, etc. Although, as you will see in the next section, we will be focusing mainly on creating new contacts and increasing your own network globally, via digital marketing.
You can start by making a list of suitable people you already know and that could be interested, or that meet the type of people you’ll be looking for, ready to reach out to them as soon as you complete the Referral Link section.
Understanding who might be willing to refer our services to the right kinds of people is the first step towards building a strong referral network.
Engaging and Educating Potential Referrers
Once you have identified potential referral sources, it is essential to engage and educate them about the myfriendsinspain Referral Program.
But, be careful! Both talking face to face with someone you know, or via the internet with a complete stranger, there is a big difference between “pitching someone” and “starting a conversation” by asking for information or advice.
Don’t become the bore of the party by trying to pitch everyone you meet!
No matter how exciting it is, or how keen you are for them to see the benefits of the Program, the fastest way to turn someone off from your conversation is to overload them with too much information, without them showing the desire to receive it.
Engage them in conversations to understand their motivations, needs, and interests first. At some point you will see the right moment to explain about what you do.
You can be open, tell them how excited you are to be working on such a cool project and ask them if they know anyone with a home abroad, that travels a lot or that has a business that might need the Telephone Interpretation Service or phonecall service.
You can tactfully try to steer them to ask you to tell more, rather than loading it all on them at once. (Remember how your head was spinning when you first looked into this huge opportunity?) Big things take time to sink in…ask their permission to send them your link if they show interest, but don’t push it upon them.
Overall keep it light, “elevator pitch” and send your personalised referral link to the appropriate page based on the conversation you just had and let the pages and our videos do their job – just like they did with you.
Make sure to invite questions from them to continue the conversation.
(Do explain the clever link system so if they simply want to do you a favour and just pass it on, they pass on your full link and not just any link to our page to protect your commissions.)
If necessary, arrange another physical or virtual meeting specifically to focus on it – then you can go business-mode with a full pitch and explanations!
Of course if they are asking all the right questions and showing great interest, you can go through it all immediately, including sending your link, looking through the pages and videos together, and helping them to sign-up there and then – but let them ask, never be pushy.
As you know, once they fully understand the benefits of participating in the program, it can increase their willingness to refer our services exponentially.
Providing Incentives for Referrers
Incentives play the pivotal role in encouraging individuals to actively participate in the myfriendsinspain Referral Program.
By offering attractive commission-based rewards, we can motivate referrers to promote our services more actively and consistently.
As you have seen in the example we showed, which is based on what we call a 10×10 network. If all people in the network simply focus on finding 10 people willing to also recommend the services, and everyone purchases no more than the basic 15 Minute Monthly Subscription for 10€ to release their commissions, then the earnings could hit around 3000€ per month.
Once those new clients LOVE the service and start to buy extra time, or push us to bring out a higher subscription packages, etc, you will really feel it in your commission payments! (Looking at the potential earning examples we gave based on only purchasing no more than the basic 10€ monthly subscription – if everyone in the network decided to buy just a T-shirt one month, all the commissions for that month would effectively triple from those exampes we gave!)
But, do you know what happens if you add just 1 person to each level and build and 11×11 network?
Or if you go all in and build a 20×20 network?
The results are simply SHOCKING!
Examples based on all purchasing no more than the 15 Minute Monthly Subscription for 10€:
|Level 1 Referral||1€ (x10)||10€||1€ (x11)||11€||1€ (x20)||20€|
|Level 2 Referral||1€ (x10x10)||100€||1€ (x11x11)||121€||1€ (x20x20)||€400|
|Level 3 Referral||0.50€ (x10x10x10)||500€||0.50€ (x11x11x11)||665.50€||0.50€ (x20x20x20)||4000€|
|Level 4 Referral||0.25€ (x10x10x10x10)||2500€||0.25€ (x11x11x11x11)||3660.25€||0.25€ (x20x20x20x20)||40,000€|
|Subtotal PER MONTH||3110€||4457.75€||44,420€|
|Total MONTHLY Earnings EXAMPLE||3100€||4447.75€||44,410€|
Developing a Referral Outreach Strategy
To build a strong referral network, it is crucial to develop a well-defined referral outreach strategy to find new collaborators.
This strategy should encompass various channels and tactics to reach out to relevant potential referrers.
Utilise email, social media, personalised invitations, or even referral events to spread the word and attract more people to join your network.
Providing Effective Tools and Resources for Referrers
To empower all our referrers and help you to succeed, myfriendsinspain provides a range of effective tools and resources.
These include personalised referral links, professionally designed ready-to-post promotional materials, informative content, and clear instructions on how to refer our services.
Equipping our referrers with these resources will not only make their job easier but also improve the chances of them effectively promoting our brand.
Check out the Media Page and Creatives tab accessed from your dashboard.
Cultivating and Nurturing Relationships
Building a strong referral network requires ongoing effort to cultivate and nurture relationships with your referrers.
Go the extra mile by maintaining regular communication, expressing gratitude, recognising their efforts and offering support.
By creating a supportive and rewarding environment, you can foster long-term relationships with your referrers, ensuring their continuous participation in the myfriendsinspain Referral Program.
Tracking and Analysing Referral Performance
To optimise our referral network, it is essential to track and analyse the performance of our referrers.
myfriendsinspain utilises analytics tools to monitor metrics such as the number of referrals generated, conversion rates, and customer lifetime value.
This valuable data will help identify top-performing referrers, understand their strategies, and make data-driven decisions to improve the overall performance of the referral network.
Improvements and developments will be communicated by email and additions or changes made to the training course as deemed necessary.
Got A Question?
Add it to the Comments Tab above so other users can benefit from the reply, ask the person that referred you – or hit us up on the LiveChat