While surveying architects, we found that 70 – 100% of projects come from referrals, yet most don't have an actual plan for generating architecture firm referrals.
When I ask what you do to generate leads and referrals, most of you answered the same way. Not a lot.
So basically what I'm hearing is that virtually all of your business comes from referrals, and yet there is little to no effort in generating them. Is that right?
You are only as good as your Referral (R).
The truth is that you could generate more referrals if you took action, maybe even doubling or tripling them!
The Key To Generating Architecture Firm Referrals
Here’s a little formula for you.
(R) = Referrals, (N) = Networks, and (R) = Relationships, then …
R = N x R
Relationships x Networks = Referrals
In fact, that is probably the only marketing formula you ever need to know because it is both simple and powerful.
When you master this formula, then you can be a small firm and win large, profitable projects. Your competition will swear that you are doing something illegal.
You will just be working smarter in generating architecture firm referrals.
If 80% of your business comes from referrals or word of mouth, then you need a good quality network to foster those referrals. But knowing people isn’t enough. You really need an excellent (R)= Relationship with them.
Even with a big network, without the right relationships with those individuals, then that network will not generate referrals for you.
You can have a lot of great relationships, but if they are with the wrong people (those who don’t refer), then you are losing out, as well.
Build your network with the right people and the relationships within that network and you’ll become more referable. Remember, you don’t have to be loved, just easily referable.
For more information, visit our post on networking effectively. Here is a recent post on building a referral business to take this formula a step further.
Happy Marketing!
–Richard