10 Steps to create a solid foundation for one-to-many sales

In a previous article, I discussed the benefits of developing a one-to-many sales model as part of your sales networking strategies. It’s a great, cost-effective tactic that helps you grow your sales fast. Do it right and you’ll put your marketing and sales on warp speed.

In this article, I want to share the 10-step process for building a referral partnership program by putting in the right foundations.

  1. Create goals for your referral partner program

You can’t build anything unless you know what it is you want to build. Before you start, be sure about the goals you want to achieve through referral partners. Among many potential goals, a referral partner program can help you:

  • Build trust

  • Improve brand awareness

  • Develop deep customer relationships

  • Improve sales revenues

  • Develop a wider and deeper customer base

Take some time to decide on your goals. Be specific about them. Write them down. Take a break and grab yourself a coffee. Return, review, revise. When you’re happy, then move on to the next step.

  1. Know your ideal customer

You want your referral partners to deliver customers who will help to explode your sales. They can’t do this unless you know what your ideal customer looks like. If you haven’t done so already, it’s time to identify your ideal customer profile (ICP), based on factors such as their:

  • Challenges

  • Objectives

  • Revenues or income

  • Location

You can read more in my article, ‘Creating Your Ideal Customer Profile’.

  1. Decide on possible sources for referral partners

Of course, the obvious source for referrals is your current (satisfied) customers. They should have plenty of great things to say about you, and have the evidential experiences that they can share.

Next, seek out people and businesses that you can partner with. LinkedIn is a great source for this. I discuss this in greater length in my next article, ‘How to Get Referral Partners’, but you should think laterally.

You’ll find professionals in your current network who you align with (and many who aren’t in your current network).

You may also find potential referral partners among businesses and other professionals with whom you already work (B2B referral partners). Think about connections such as auto mechanics, car parts distributer, and valet services.

  1. Figure out how to host your referral partnership program

You should seek to build your referral partner program over time. The more partners you have in your network, the more effective your program will be.

What you don’t want to happen is to create a beast that takes up all your time, energy, and effort to manage. Therefore, you should consider early on how you will maintain your referral program. A good CRM (like CopperCRM) can be utilized in this process.

  1. Decide on the benefits your referral program will offer

You should decide on what incentives you will offer to your referral partners. These may be financial and non-financial. You may also wish to give different incentives to different partners, or, for example, for different quality and amounts of sales that referrals deliver.

  1. Give to receive

A great way to develop initial contacts and potential referral partners is to give first. This may be advice and help, or referrals to your contacts. In either case, when your target referral partner thanks you, it is the opportunity for you to start the conversation about a referral partnership.

  1. Explain your referral program to potential partners

You’ll need to explain your referral program to potential referral partners, discussing in detail your ICP, the benefits you offer, and the services or products you wish to have referred. You should also ensure that you define how you wish to be introduced to referrals. A common method is for the referral partner to introduce you by email.

However the introduction is made, be sure to follow it up promptly. If you fail to do so, you will destroy the trust your referral partner has in you, miss a potential sale, and be less likely to receive referrals in the future.

  1. Support your referrals partners

Support your referral partners by giving feedback on referrals sent to you. Share scripts with your team, to help them present the right messages to your partners.

In addition, provide value-added content that they can share with potential referrals and use as evidence of your expertise in your market. This content may include:

  • Blogs

  • Newsletters

  • eBooks

  • Emails

Deliver content consistently, and ensure that it supports your business goals.

  1. Update your referral partners

Markets change. Your ICP will change as the needs of your customers evolve. You will update your products and services. Make sure that you stay in contact with your referral partners and explain changes as they occur.

  1. Say thank you

Yes, I know that you are incentivizing your referral partners, but you know what really makes a difference? Saying thank you. It provides you with the opportunity to give feedback, and shows you appreciate what your partner is doing for you. Always say thank you.

Start with one to sell one to many

I expect you are excited by the prospect of having a network of referral partners, all providing hot leads for you and your team to close sales with. However, here’s a final tip for you: start with one.

This is key to the success of a referral partnership program. Start with a single partner, and use this to learn what works for you and what doesn’t. Refine as you develop the relationship. When you start to receive hot prospects that meet your ICP criteria and are way easier to sell to, then you know it is time to roll out the program.

In my next article, you’ll learn more about how to get referral partners

In the meantime, please feel free to take this assessment and learn if you are the right fit for my sales acceleration program.


Publish Date:5/14/2021 12:00:00 AM
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10 Steps to create a solid foundation for one-to-many sales
In a previous article, I discussed the benefits of developing a one-to-many sales model as part of your sales networking strategies. It’s a great, cost-effective tactic that helps you grow your sales fast. Do it right and you’ll put your marketing and sales on warp speed.
In this article, I want to share the 10-step process for building a referral partnership program by putting in the right foundations.

Create goals f…

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