You may think the purpose of networking is obvious. However, if pressed, could you articulate your reason why? One reason may be to develop your referral partner pipeline.

If you’re thinking, “my what?”, we’ve got you covered!! Your referral partner pipeline is simply a list of business associates, strategic partners, or clients that help you to keep your pipeline full of new leads and exciting opportunities.

How do I develop my referral partner pipeline?

1. Attend the right networking events. This goes back to knowing your “why?” Why are you networking? What are your business goals? Who or what will help you get to the next level? Having a clear focus will help you to find and make the most out of the networking events you attend. For more information about choosing the right networking event for you, click here!
2. Perfect your elevator speech. Or speeches. Depending on the event, audience, or your goals for the night, make sure to have a few pitches ready based on your needs. Take your preparation a step further, too! Don’t just memorize your speech, but live it and breathe it. Know your main points, but be ready to be fluid with it and let it flow naturally into a conversation versus a formal presentation. For tips on perfecting your elevator speech, click here!
3. Build your email marketing list. Now that you’ve met a whole new group of people, work them! Using your favorite CRM, delineate people as clients, referral partners, specific industries, top 2 or 20 prospects, etc. The more detailed the information you can provide, the more targeted you can become with your email marketing strategy and subsequent follow ups. For more tips on how to build your email marketing list, click here!
4. Follow up! Follow up. Follow up. And then follow up again. Your contact should be tapered in that you intentionally and personally reach out to new leads. Over time, your contact points become less frequent and more informal. However, it’s important to set up a recurring marketing drip campaign so that you periodically revisit “old” contacts. For tips on how to follow up with a new contact, click here!
5. Don’t forget about the power of giving. This may be the most important tip of all! If nothing else, remember that you have to give to get! Reach out to someone for simple advice or mentorship, send a new lead the way of a business associate, or refer a client out to a colleague on a project outside of your scope.

Need some help perfecting your referral partner development strategies? Give us a call at Piccolo Marketing at 615-348-7768 to get started!