What you should always do with referrals

If somebody refers or offers to refer a prospect to you—for sponsorship, a collaboration, or a B2B sale—here are 5 things you should always do:

1. Follow up. You have no chance of getting other referrals from your original source if you don’t reach out to the ones they give you. You’d be surprised how often referrals slip through the cracks.  Action: Call, email, mark your calendar, create an alert, and by all means contact the person being referred to you.
2. Circle back. Let the person who did the referring know what happens. As someone who refers to clients and colleagues every chance I get, I love it when the person lets me know how things go. Whether it’s a good or bad experience, I want to know whether to refer again and help both parties. Action: Send a quick email or pick up the phone and let the referral source know what happened. 
3. Thank the referral source. B2B sales, which sponsorship is, is based on referrals. Thank your sources of referral business. Not thanking them is rude and will lead to deteriorating relationships. Not every referral resource has to work out with an even number of referrals back — sometimes things are just lopsided that way.  Withholding your gratitude, though, is not the right energy for selling. Action: Say thank you. Often.
4. Hold the relationship sacred. Somebody opened up their network to you. They entrusted you. It is your duty to be worthy of the trust imbued in that introduction. As I tell my clients when I help them create a culture that prioritizes sponsorship relationships, we cannot control how the other will behave. But we can control our own behavior and intentions. Your relationship intention, especially for a referral, should be highly trustworthy, reliable, friendly and open. Action: What are your relationship behaviors and intentions?
5. Give back. Are you providing value to your referrals and referral sources? Or are you simply taking? If you’re only concerned about taking and about what you get out of a relationship, vs. building mutually beneficial relationships, you’re intentions are going to become evident to the other. Action: Take your time. Build the relationship. Be as helpful and giving as you can. 

Referrals are one of the best ways to build your business. Participate in this activity with a high level of professionalism, trustworthiness, and intention.