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Why Referral is Now a Risky Lead Generation Strategy

Hi, Sharon Newey from Superfast Recruitment. And today, we’re talking baking and referral marketing.

What on earth do they have in common? Well, on the weekend, my brother and I were reminiscing about our childhood memories with our mum. And the common one that we shared was baking.

And I remember sitting on the countertop in the kitchen, and some days when we were making fairy cakes, I got to sprinkle 1,001’s on top of the icing. And some days, I didn’t.

And I never knew when I was or I wasn’t, and that got me thinking about referral marketing.

Referral Marketing in Your Business Strategy

Because, as business owners, we all love referrals, don’t we?

It’s great that a client values your service so much that they want to introduce somebody else to you, who can experience that great level of service and value that you offer. And of course, it’s the icing on the cake because generally, they convert really quickly.

Now, the thing is though that let’s just think about the marketplace as it is today.

It’s challenging times for many source sectors. And when you think about referral, you are relying, as a business, on your clients, and at the moment, what’s the situation that some of your clients are in?

Referral Marketing in the Current Climate

Let’s be honest about it.

Most business owners right now, are very much focused on themselves and their business.

Look, think about because many of you will have heard of Maslow’s hierarchy of need. It’s that triangle with self-actualisation that many people aspire to. But right down at the bottom, it’s about survival.

It’s about focusing on you and your business, and that is what the majority of clients that you have, are going to be focused on right now.

Where is their business coming from? What’s happening with their clients? What about their orders? What about their future? Are they having to make people redundant? Are they going to be recruiting?

There’s all this stuff that’s going on.

And so what isn’t going to be at the front of their minds, is your business and who can they refer and introduce you to.

Now, if you’re a company that has enjoyed in the past, lots of referral, and you’ve relied on referral marketing and your existing clients as your main source of business, moving forward, that isn’t going to work in the same way.

You are putting all your eggs in, you could say one basket, because it’s all based on existing clients.

And you will have heard Denise and I talk a lot recently, about having multiple fishing lines out there.

Which Strategies to Use Now?

So different strategies that you’re implementing, where you are attracting new opportunities and new prospects which will turn into new clients.

So think about it. What fishing lines have you got out there?

How are you using email marketing? What different marketing funnels have you got in place at the moment? What are you doing with social media? How are you leveraging your social media? What kind of content are you sharing to attract attention in what for many, many companies are competitive markets?

So just take some time to take stock and think about how many fishing lines have you got out at the moment to attract new business opportunities for your business.

And keep watching because in the coming weeks, we’ll be talking about new strategies and different ideas.

For more information on all the different aspects of marketing your recruitment company, head to our blog where there are hundreds of blog posts, or check out our downloads page to download our free recruitment marketing resources.

And that’s Sharon Newey from Superfast Recruitment. I’ll see you soon.

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