What are the best ways to get referrals from your existing investors or customers?

1 Ask for referrals

The first and most obvious step is to ask for referrals from your satisfied investors or customers. Don't be shy or assume that they will refer you automatically. Be proactive and ask them directly, preferably at the right moment, such as after a successful deal, a positive feedback, or a renewal. Explain why you are asking for referrals, what kind of leads you are looking for, and how they can help you. Make it easy for them to refer you by providing them with a clear call to action, such as a link, a form, or a contact information.

2 Offer incentives

Another way to encourage referrals is to offer incentives to your investors or customers who refer you. Incentives can be monetary, such as a commission, a discount, or a cash reward, or non-monetary, such as a gift, a recognition, or a free service. The key is to align the incentives with your value proposition, your target market, and your referral goals. For example, if you are looking for high-quality leads, you might want to offer a higher incentive for referrals that convert into customers or investors. If you are looking for more referrals, you might want to offer a lower incentive for referrals that sign up for a trial or a newsletter.

3 Provide value

One of the best ways to get referrals is to provide value to your investors or customers, not only in terms of your product or service, but also in terms of your relationship. Value can be delivered in different ways, such as by providing useful information, resources, or advice, by solving their problems or challenges, by exceeding their expectations or delighting them, or by creating a sense of community or belonging. By providing value, you can increase your customer or investor satisfaction, loyalty, and advocacy, which can lead to more referrals.

4 Showcase referrals

Another way to get referrals is to showcase the referrals that you already have. This can help you build social proof, credibility, and trust, as well as inspire your potential referrers to act. You can showcase referrals in different ways, such as by displaying testimonials, reviews, or ratings on your website, social media, or marketing materials, by featuring case studies, stories, or success stories of your customers or investors, or by creating a referral program or a referral page that highlights the benefits and the process of referring you.

5 Nurture relationships

The last but not the least way to get referrals is to nurture your relationships with your existing investors or customers. Referrals are based on trust and rapport, which can only be built and maintained by staying in touch, following up, and showing appreciation. You can nurture your relationships in different ways, such as by sending personalized emails, messages, or cards, by giving feedback, compliments, or referrals back, by inviting them to events, webinars, or podcasts, or by creating a community, a group, or a network where they can connect with you and others.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?