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Business Networking
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| What is a referral based business? |
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The name “referral-based business” suggests that it is a business which relies largely on referral strategies to generate business. “A referral strategy is simply a way of introducing new customers to your business for a low acquisition cost…It’s a way of getting existing customers to promote your business for you”.
Your customers can do a lot for you, if you first take the time to listen to what they have to say and if they have experienced your competence and character. Strategic networking such as networking at the right forums or networking with other business professionals who have the ability to introduce you to quality prospects can help you to get new clients via referrals.
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