Two Puzzle Pieces

Growth in sales and increasing profits are essential elements for creating a sellable business. Referrals can be a tremendous source of new business, offering a means to grow your customer base with less cost and time.  Prospects sent to your business by customers and partners deserve a heightened level of attention, as the trust these referral sources have extended is precious.  If you have implemented your referral marketing system correctly your referral sources are sending you prospects that understand the value of your business and are towards the middle of the Marketing Hourglass™.  By extension, they know, like and trust you due to their relationship with the source and now they’ve been referred to your business to solve a problem, deliver a service or resolve an issue.  That doesn’t mean it’s a slam-dunk, touch-them-all, dance in the end-zone situation. You still have to determine if there’s a “fit” with the prospect.  (My fellow sports fans will appreciate that I managed to get a hat trick of sports references in the sentence above!)

Prospects sent to your business by customers and partners deserve a heightened level of attention.

Fit, that sense of being aligned, valued, and connected, is something that only you and the prospect can determine.  Here are 3 points that will help you think about and achieve the right fit with your prospect.

1.    Are you and the prospect aligned?  What I’m referring to here is the pursuit of solving the right problem or providing the right solution.  Understanding the prospects needs, requirements and expectations will help ensure you are the right business for the situation.  An honest assessment of your business focus and capability against the needs of the prospect will help you ensure you are the right solution.

2.    Does the prospect value your product or solution? Understanding what and why the prospect values your solution will also help you determine fit.  Appreciation of the factors that make your business unique and distinct are often the most important components of the business relationship.  If you value “A” and the prospect appreciates “B” doesn’t mean it won’t work – but knowledge of this difference from the start may help you determine if you are a good “fit”.

3.    Do you have a connection with the prospect?  Connection is also thought of as chemistry and is that “certain” feeling you have when you meet someone that has shared experiences, contacts and community.   People sometimes say they “hit it off” meaning that they achieved this sense of emotional connection with the other person.

These three points, while not an exclusive list, provide a basis for ensuring you and your prospect are a good fit.   Ignore the “fit” and you risk a situation where you may not serve a customer well, have not honored your referral source, and may lead to a compromise on your business focus.

Want to maximize your referrals?  Check out Valens Point’s Referral Marketing Checklist, which will help you grow you business with more referrals.

How does your business determine if a prospect is a good fit? 

image credit: jscreationzs

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