SECTION 1: GETTING STARTED
JV partnerships have allowed our company to scale and keep a steady flow of opportunities and customers knocking at our door.
Complete the Action Plan below to accomplish these goals with the exact playbook (and scripts!) we use for building our own referral network.
Here’s how to get the most out of the content in this Action Plan:
1. Read the entire AP once – Read through this entire AP, watch any videos and download the resources. Don’t execute on the steps until you have finished reading the entire AP. This will help you understand the progression of the steps and put them into context.
2.Complete the steps – This Action Plan is a checklist. Each step builds upon the next. Complete each step in order. Please post all questions in the Linked University VIP Club.
Please bring questions about this Action Plan to the monthly group coaching call. The call takes place at 10 am CST on the last Thursday of the month. To register, please click here.
This strategy can be used to generate partnerships with jv or referral partners using this under-utilized LinkedIn playbook.
This Action Plan is for you if….
Your prospect buys on a very timely “needs” basis that is difficult to find your prospect through searching and groups
The average lifetime value of a new client/prospect is lower than the relationship effort will require.
I.e. if you are a realtor looking for prospects currently looking to buy a house -> targeting referral partners is a good play.
And if you sell a physical product (i.e. watches) -> targeting distributors or retail store owners or potential jv partners would be the best bang for your buck.
SECTION 2: YOUR REFERRAL NETWORK
What’s a referral partner and what do you need to know before you enter into a strategic partnership with one?
Watch the video below to find out!
Understanding Your Referral Network
Now that you realize the importance of developing strategic partnerships, it’s time to find those partners.
By now you should have have already completed the 365 Marketing System. If you haven’t , then you definitely want to go back and go through that Action Plan in it’s entirety.
The 365 Marketing System is the FOUNDATION for every additional Action Plan found in Linked University…including this one.
So, I can’t stress ENOUGH just how important it is to be familiar with the process we teach in that system.
But, since I know you are awesomesauce, I am going to assume that you have not only completed, but MASTERED the 365 Marketing System. And that’s because you will need to use the tactics that we teach to prospect and connect with potential referral partners.
The process of finding those partners is not unlike the process of finding potential prospects…you just need to make a few small tweaks.
First – you’ll need to identify your ideal referral partners.
You can do so by creating a PROSPECT PROFILE aligned solely for the purpose of finding potential partners or you can simply brainstorm a list of job titles/people you know would be a good fit. I’ll let you decide what’s best for you.
Second – use LinkedIn’s search to find and connect with potential partners on LinkedIn.
I know, I know more prospecting. But by now it should be getting a little easier for you (and dare I say fun), right?!
Third – once you find them, send them a personalized invitation to connect.
Yup, still going to have to make it personal…
And finally, don’t forget to track who you are connecting to with your Campaign Tracking Sheet! It will make your life so much easier. I promise!
So, if you still are not what the heck I am talking about, or even if you just need a little refresher on prospecting and connecting, please go here.
Once the potential referral partner has accepted your invitation to connect, it is time for the real fun to start!
However, the hardest part about reaching out to a potential partner is knowing exactly what to say to make them want to continue the conversation.
No pressure, right?
Crafting the right message copy can be a tad tricky…but don’t let that stop you for going in for the kill.
The goal here is NOT to sound like you are giving a sales pitch to try and just get them on the phone to talk about yourself.
Instead, you want to come off as personable and genuinely interested in developing a real relationship with them.
There are a couple of ways to reach out to your potential partner:
Approaching LinkedIn Group Owners -Join group and message, send connection request, send an inmail.
How to Approach the Call
Hey Michael, I run LinkedUniveristy.com and am wondering if you’d be open to doing a promotion together?As a manager of several gorups, I know how challenging it can be to find truly valuable resources to share with your group members.If this is something you’d be interested in discussing further, let me know!Thanks,Josh
What are your desired results?
SECTION 3: FINAL THOUGHTS
Referral Partner Big Picture
Now’s the time to TAKE ACTION!
Here’s what you wanna do:
- 1. Identify who are the best types of people who are going to be willing to refer business to you on an ongoing basis?
- 2. Establish your goals for the 90 Day Challenge.
- 3. Set-up your system for finding and connecting with potential referral partners on LinkedIn.
- 4. Do the work to make it happen!
Find us in the Linked U VIP Club and start a new discussion thread to talk shop, get feedback on scripts, or help with identifying the right referral partners to reach out to.