netmoney1
Elite Member
- Feb 21, 2012
- 3,429
- 11,101
Over the past couple of month?s we have been using social media to generate some referrals. In my experience these are lay downs to close. They generally come from friends and connections so the ?sale? is virtually done.
We were offering HUGE referral fees and they were coming in, but I knew there were a lot more out there to be had.
Some people just aren?t motivated by cash, so I wanted to prove this theory. I was checking out at the grocery store and there was a huge gift card display. Gift cards from literally every store that you could think of. I grabbed 10 gift cards?5 iTunes and 5 Starbucks. I told the girl at the checkout counter that I needed them for a project but didn?t need them loaded with money. She looked at me slightly confused and just shrugged her shoulders and threw them in the bag.
BETTER THAN CASH?!?!?!?!?!
iTunes Gift Cards:
Starbucks Gift Cards:
The next day I took a picture of the 10 gift cards scattered on my desk ? posted that image to Facebook, Twitter and Instagram with a message stating that anyone who refers a client within the next 72 hours gets a $100 gift card for Starbucks or iTunes.
Here is the kicker: before we were offering $500 cash?and we got a little activity.
With this test we had a sh#t load of referrals in that time period, 5 of which turned into clients. So, we ended up spending $500 for 5 clients?when that would have cost us $2,500 before paying cash.
So, if you are currently trying to get referrals and offer cash try something else. People love prizes, gifts, etc. We now offer a wide range of gift cards, ranging from places to eat to virtually every retailer available! You can get any kind of gift card that you want at grocery stores and even drug stores like CVS. They are so easy to get. No need to keep an inventory. You sign a referral and simply pick up the card of their choice. Simple.
We are actually developing a referral page on our website where they can submit prospective leads and pre-select their gift card of choice in the event that the lead turns to a client.
Lesson: CASH ISN?T ALWAYS KING!!!!
We were offering HUGE referral fees and they were coming in, but I knew there were a lot more out there to be had.
Some people just aren?t motivated by cash, so I wanted to prove this theory. I was checking out at the grocery store and there was a huge gift card display. Gift cards from literally every store that you could think of. I grabbed 10 gift cards?5 iTunes and 5 Starbucks. I told the girl at the checkout counter that I needed them for a project but didn?t need them loaded with money. She looked at me slightly confused and just shrugged her shoulders and threw them in the bag.
BETTER THAN CASH?!?!?!?!?!
iTunes Gift Cards:
Starbucks Gift Cards:
The next day I took a picture of the 10 gift cards scattered on my desk ? posted that image to Facebook, Twitter and Instagram with a message stating that anyone who refers a client within the next 72 hours gets a $100 gift card for Starbucks or iTunes.
Here is the kicker: before we were offering $500 cash?and we got a little activity.
With this test we had a sh#t load of referrals in that time period, 5 of which turned into clients. So, we ended up spending $500 for 5 clients?when that would have cost us $2,500 before paying cash.
So, if you are currently trying to get referrals and offer cash try something else. People love prizes, gifts, etc. We now offer a wide range of gift cards, ranging from places to eat to virtually every retailer available! You can get any kind of gift card that you want at grocery stores and even drug stores like CVS. They are so easy to get. No need to keep an inventory. You sign a referral and simply pick up the card of their choice. Simple.
We are actually developing a referral page on our website where they can submit prospective leads and pre-select their gift card of choice in the event that the lead turns to a client.
Lesson: CASH ISN?T ALWAYS KING!!!!
