What's a referral worth to our businesses?

Our networking group has been going (officially) for just over six months, and it's been a fantastic six months that has seen the group grow, and we've passed a great amount of business that totals on the £300,000 mark, we've passed 1,180 referrals which means each referral passed is worth on average £254.24. 

As mentioned in a previous post we measure this via referral slips and through the Thank You For The Money box, as far as I know we're the only networking group that does this to prove it's effectiveness and that it works for the members.

Of course the referrals system and TYFTM box doesn't generally take in to account, what we call 'Tiered' referrals, ie those referrals that come from referrals, a customer or client that has referred you on to their friends or family, this could mean that as it spreads out to a wider network, I'd expet if we were able to track these second, third or fourth plus tiers we could easily double the value of being part of a BNI group..... Just a thought.

I know one thing, in my years in networking, I've always had the best return on investment from BNI over any other networking group and it's well worth the investment, effort and commitment. 


To your success

Paul

My BNI Journey - Mark Stewart - Beanebytes Web Design

My name is Mark Stewart and I am the owner of www.beanebytes.com

I was first introduced to BNI in February 2012. At the time I had been running my business for only a short while and was frustrated with the levels of return on my marketing and sales expenditure.

As such it was with a certain amount of trepidation I attended my first meeting for a new BNI chapter in Ware, Hertfordshire.

The idea of networking had never really appealed to me as I expected it to be full of stuffy types in suits with lots to say about themselves.

A year down the line and I'm now a fully fledged, active member of the BNI Endeavour Hertford & Ware Networking group and enjoying every minute of my BNI experience.

Being a member of BNI has brought huge dividends not only to my business in terms of growth and revenue but also in my personal development.

At the start of my BNI journey the idea of public speaking horrified me.

My confidence in public speaking and selling myself to potential clients has grown beyond my expectations and this is largely due to my involvement with BNI.

I feel really grateful to be part of a vibrant group of local business owners from all trades and walks in life.

For any new business owner I could not recommend BNI more highly. 

Mark.

You can catch up with Mark on Google+