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GWM Lawyers and Conveyancers

Welcome to this edition of Law Update Newsletter, informing friends and clients of GWM Lawyers and Conveyancers of changes in the law that might impact on their personal or business lives.

In this newsletter:

• Business Network International

Business Network International

Everyone knows that word of mouth is the best form of advertising.

Indeed some would suggest that word-of-mouth advertising is the most powerful and potent marketing tactic available. Brands are built at a "grassroots" level by getting people excited and getting them talking about you.

Referral marketing is the most natural way to communicate with consumers and a compelling way to bring in new business.Continuous word-of-mouth referral is the quintessential sign of a successful business in a competitive marketplace. It is the only form of promotion that is of consumers and for consumers.

Service excellence is the foundation of referral marketing, but it won't create referral business on a regular basis unless you plan a system for referrals. Typically, a referral marketing system involves the following :

• Positioning yourself as unique in your industry (mind share)
• "wowing" your clients with an excellent quality product and service
• actively trading referrals with your suppliers and centers of influence
• making referrals a condition of doing business with suppliers
• offering your clients discounts on your products for referrals
• giving staff incentives for referring business to you

Referral marketing has several advantages including:

• Positioning yourself as unique in your industry (mind share)
• potential clients come from a credible third-party that has experienced firsthand the benefits of doing business with yield
• referrals are usually free and you can enjoy the benefits of the most powerful advertisement for almost nothing
• a client that gives referrals psychologically becomes more loyal
• referral generated clients generally buy quicker, negotiate less, buy larger quantities, and they refer more business to you.

• customer involvement-some customers love to be involved. Consider workplace tours or even an advisory panel of customers.
• Testimonials-the silent, believable and potent salesforce.
• Educated champion clients-these clients are your best supporters. Give them information on anything of interest to them and you'll build rapport while they sing your praises.
• Fast complaint handling-an obvious, but often overlooked referral tactic. A well handled complaint can create a lifetime customer and plenty of referrals.
• Pleasant surprises-this is more about good service, this is the "wow" factor. Blow them away, and they won't be able to stop raving about you.
• Quality improvements- customers expect continuous improvement on quality.
• Networking tactics-more than handing out business cards at functions. People love talking about themselves. Learn the subtle art of nurturing quality relations.
• Loyalty rewards-developer program to reward your staff for the best customer service initiatives.

Referral marketing should be your first port of call after you have positioned and differentiated your business. It will leverage the principles of mind share and lay a foundation for other brand building tactics.

We at GWM are involved in an organization called BNI, Business Network International. BNI is a group that meets weekly. It's primary focus is the generation of business leads and referrals for members. Should you require information on BNI please contact Bob Gillroy 0412656030 or 0265835266. We are confident that you will be impressed by the programme.

Download your copy in Microsoft Word format (86kb) or Adobe PDF format (70kb).

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