Transferable Trust

If you provide professional services, RainToday.com’s summary of ‘How Clients Buy: 2009 Benchmark Report on Professional Services Marketing and Selling from the Client Perspective’, is worth a look.

A key finding is that 73-79% of decision makers reported they are “somewhat” to “very” likely to use referrals and awareness methods to identify providers. However, the RainToday article notes:

‘Comment from report authors, Mike Schultz and John Doerr, “While all referrals are great, not all referrals are equal. The relative strength of the referral depends upon the level of trust that already exists between the person giving the referral and the prospective client.

A service provider benefiting from a referral is able to draw upon this pre-established or “transferred” trust. Since referrals are such a top-tier marketing method it is clearly worth providers’ time to deliver services worthy of glowing referrals and cultivate word-of-mouth ambassadors in their existing clients and contacts through proactive referral programs.”

The report also notes the top 4 ways decision-makers view as important in terms of building initial trust with potential buyers as:

Communication: 24%
Experience: 20%
Referrals / Recommendations: 17%
Personal characteristics: 12%

If you’re not already using referrals and recommendations from existing happy clients to demonstrate transferred trust with potential clients you’re missing an enormous opportunity.

If you’re unsure where to start, get in touch with either Big Dave Staughton in Melbourne or Bill James, in Auckland. Both Dave and Bill provide simple tips and techniques that will enable you to tap into the referral goldmine in your business confidently and effectively. I can highly recommend both!