Recently, we learned that we are sitting on a gold mine here at Elevate, and that gold comes in the form of referrals.
But we all operate multiple gold mines, so it’s important to know which mine is producing, so your tracking and reporting tools need to be robust to properly track your return on investment.
I’m going to use myself as a case study.
This year I’m on track to have a significant amount in closed business that is attributed to Elevate.
If I were to only count the direct referrals that I receive from my fellow members each year, my closed business due to Elevate would be a fraction of that, and then I might not value my membership as highly as I should.
Here are some examples:
The other day I got a referral from “John Smith” (who’s name has been changed here).
Who is that? He’s not a member. He wasn’t a guest at this meeting. He’s not a client of mine. So I had to do some digging.
And it turns out that Charles Rosenbaum, our life insurance expert, referred me to an ice cream company last year that needed ADA Compliance for their website because they were sued. During the course of that project, I had to discuss the client’s settlement document with their lawyer, you guessed it, John Smith.
This year John Smith had another client sued for ADA Compliance issues with their website, and he remembered how well I helped his other client with this complex issue.
Thank you, Charles!
Another big source of my Elevate closed business is all the recurring revenue I get from referrals over the years. You have now referred me to over 200 clients that I have on my roster, and every month those clients spend money on hosting, maintenance and other services, and I credit all that recurring revenue to the member that referred me so many years ago.
So the point of this moment is to make sure you properly scrutinize each sales lead you get, and all of your recurring revenue to make sure you are properly calculating your return on investment at Elevate and I guarantee that you will not only make more money, you will credit Elevate for that money!