A newsletter? Does anyone really read a newsletter? And can a newsletter in your business really help you get more referrals?
The answer is, yes, and yes, but it depends on a few things.
1) Do people read newsletters from businesses? Of course they do, IF the newsletter is interesting and useful.
Having a newsletter that just talks about yourself and has no value is worthless. Having a newsletter that is informative, valuable, educational, and even fun to read is the goal in getting referrals. Just look at other forms of information people read on a regular basis. People read newspapers, people read Internet blogs, people read magazines, but you must make sure the content is interesting, and useful for your target audience.
2) Does a referral newsletter help you get referrals? The answer is yes! Why and how? A referral newsletter helps you get referrals because you are staying in front of your target audience, you are staying relevant, and your are building relationships with your current clients. An added benefit of a referral newsletter is that it helps you RETAIN clients, because you are communicating with them and building a relationship with them on a personal and professional letter.
What are things you can put in your referral newsletter? You can put facts and figures on your industry, changing laws or regulations, updates in economic terms, and more. All of these help you build a relationship, and help you get referrals because you are becoming a source of knowledge and information.
What are some other things you can put in your referral newsletter? It is very simple. You can, depending on your referral newsletter, recognize people who have given you referrals. You can hold referral contests in your referral newsletters, and you can ask for referrals in your referral newsletter!
This brings up some other important questions people have in regards to referral newsletters. They ask questions such as, “How long should my referral newsletter be?” “Should I send a referral newsletter in print format, or in digital format?”
First, your referral newsletter does not have to be long. It only needs to be useful and interesting. If you can accomplish that in 4 pages, that is great. Secondly, should you send it in digital or print format? Well, whenever possible believe you should send it in print! Why? Because things that are sent in print format are perceived as more valuable than email.
Of course this depends on your business, but if something actually arrives in the mail then people look at it, spend more time with it, and then you help build the relationship stronger. An email referral newsletter is certainly better than nothing, but remember the delete button can destroy your referral newsletter message in a split second.
Another question is this: How often should you send your referral newsletter? You need to send your referral newsletter once a month. Anything less than that, and people will not get the value from that!
Lastly, who should you send your referral newsletter to? Depending on your budget, the more people you send it to, the better! However, if you don’t have a large budget send it to your best clients, best referral partners, and people most likely to send you referrals.