Marketing Podcast with John Jantsch
In this episode of the Duct Tape Marketing Podcast, I’m doing the final part of a five-episode solo show series where I’m covering one of my favorite topics: referrals. You can catch the first episode, second episode, third episode, and fourth episode of the Referral Generation series here.
In this episode, I’m wrapping up this Referral series and masterclass on Referral Generation. I cover the last two approaches that are particularly unique but have extremely potent potential: creating your own expert networking club and building a referral mastermind system. You can find the links to all 5 of the episodes below.
Topics I cover:
- [1:38] The sixth approach is creating your own expert networking club
- [2:59] Where strategic partners can fit into this idea
- [3:25] An example success story from my newest book of how creating a networking group has worked extremely well for others
- [4:51] Why creating a group like this is a commitment and a long-term strategy – it takes time for this approach to flourish
- [7:43] The seventh approach is building a referral mastermind system
- [8:39] Creating a monthly referral training for your clients
- [9:26] Why this works particularly well if your clientele is B2B
- [10:04] Teaching others how to generate more referrals leads to more referrals for your business – the law of reciprocity just happens
Resources I mention:
- The full Referral Generation series:
- The first episode in this series: 7 Approaches To Help You Generate More Referrals
- The second episode in the series: 3 Types Of Referral Offers Every Business Needs
- The third episode in the series: Grow With Your Customers By Serving Their Ecosystem
- The fourth episode in the series: How To Build A Strategic Partner Network
- The Ultimate Marketing Engine: 5 Steps to Ridiculously Consistent Growth
- The Referral Engine: Teaching Your Business to Market Itself
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John Jantsch (00:00): This episode of the duct tape marketing podcast is brought to you by the MarTech podcast, hosted by Ben Shapiro and brought to you by the HubSpot podcast network with episodes you can listen to in under 30 minutes, the MarTech podcast shares stories from world class marketers who use technology to generate growth and achieve business and career success all on your lunch break. And if you dig around, you might just find a show by yours. Truly. Ben's a great host. Actually, I would tell you, check out a recent show on blending humans, AI, and automation. Download the MarTech podcast, wherever you get your podcast.
John Jantsch (00:52): Hello, and welcome to another episode of the duct tape marketing podcast. This is John Jantsch, and I'm doing another solo show. We're gonna talk about referrals. This is a wrap up. This is session number five of me covering the seven grades of referral fuel. If you haven't caught the other shows, you can find them @ ducttape.me slash duct tape in the show notes. Uh, we'll link to all those shows. So you can kind of somehow put all five shows on referrals together. It kind of a, it equates almost to a masterclass on my thinking on the idea of referral generations. Hopefully you can check it out. Love to hear your feedback, love your reviews and testimonials, uh, on the show. All right, this is, uh, number six of seven. So I'm gonna cover two of them today. This one, and, and actually both of these kind of are a little bit, they're not out there, but they're certainly not practice every day, but I think for the, the right business, the right person that really takes this and runs with it.
John Jantsch (01:49): So both of these ideas could be extremely, extremely potent. All right. So I did number six is to create your own expert networking club. Many folks are familiar with organizations like BNI, you know, where people get together and, and join a network of non-competing businesses. And they think about, uh, you know, generating referrals, uh, you know, from, from, and with each other. And those can be great for the right businesses. Those can be great organizations. The only problem is, is, you know, you're joining something that's already established. You really don't know who's there. Uh, you don't get to pick, you know, who's there. And so it's a potent idea, but what if you could control it completely? And what I mean by that is what would stop you from creating your own event? That was a regular, whether you call it a club or whatever you call, it is something that, that people would come to.
John Jantsch (02:45): So it might be like a monthly breakfast that, you know, I'm, I'm in the marketing space. So I might, you know, create something the monthly marketing breakfast, and I would just invite people locally. You know, maybe they'd pay for breakfast, but they'd come and they'd hear for the price of breakfast. They'd hear, you know, some small business topic and it, you know, it doesn't always have to be marketing in my case. Maybe I'd bring in some of my strategic partners. If you listen to last the, the last show on, on referrals, I talked extensively about strategic partners. So this would be a great opportunity for you to bring in those other professionals or folks that, that you work with and have them teach topics. So you're not just doing all the heavy lifting, you're really keeping it, uh, you're really keeping it relevant, you know, keeping it, uh, potent for, you know, reason for people to come.
John Jantsch (03:33): Now, one example that that I've used actually in, in my book, the, the ultimate marketing engine was a woman who, you know, doesn't, here's my point. It doesn't have to be related to your business. If there, if there's a topic or a reason to bring people together, that's going to be a value to them. Uh, it doesn't directly have to be related to your business. So the profile or the woman that I profile in my book, uh, actually was a real estate agent, but she was pretty good at marketing and learned a lot of these new, you know, digital tactics and things. And so she thought, well, I'll just reach out to entrepreneurs and see if they wanna have me. And, and other folks that I work with talk about marketing topics. And so she brought in entrepreneurs and businesses and, uh, around this topic of, of generally around the topic of marketing and they would meet, you know, monthly for breakfast started very small.
John Jantsch (04:19): I think the last time, uh, I talked to her, it was around two, 300 people would come to this thing. Well, she was not selling real estate. She wasn't talking about real estate, you know, as any of this, but she was clearly the one who benefited from, Hey, you know, I'm your host, you know, I'm bringing this together. Here's the next ex expert I'm bringing to you. So consequently, almost all of her business came when somebody, you know, who was in this club needed to buy or sell a house, guess who they thought of. So it really can just be a way for you to, uh, you know, to, to build some authority, to build some influence regardless of the industry, uh, that you're in. Now. There's a couple things that, that I think, make some sense on, if you're gonna take this approach, you're gonna have to commit to it.
John Jantsch (05:03): I mean, it's something where you maybe go out and get, you know, your existing clients and the 10 of you, you know, meet for the first time and then you ask them to bring people. So it's something that you'll, you, you can't just say, I'm gonna do this one day and, and have it just magically turn into this, uh, incredible thing. It's gonna take an investment of time and energy and, and probably some resources in the beginning, but it could build to the point where it could be a, a significant revenue generator, uh, for your business. I think the people that have done this kind of thing, there's another organization that I profiled the book called cadre, which is in the Washington, uh, DC area. And it was the same thing. It was a, a financial advisor who, you know, just got tired of going to the traditional networking things that everybody said you had to go do in order to, to, to meet people in that business.
John Jantsch (05:54): So he, he just started creating these monthly get togethers and he would bring in, you know, experts and authors and, you know, it was very, almost curated. You know, it grew to the point where it actually is. It actually became, he actually sold his financial, uh, planning practice and, and is doing this full time now is, is running this kind of networking club that, you know, people are very, very engaged in as, as members of this. So, you know, it, it really, it's an idea that could be a very big idea, but even, even as a small size idea, I think it really can do a lot of very positive things for your business. Now, I know some of the, in addition, I mean, I think these things work probably the best when people can physically get together. But I think also creating some sort of platform in like meet up and, or event bright, or even LinkedIn and Facebook, you know, events and groups, you know, having something so people can kind of in between these, uh, get togethers communicate as well.
John Jantsch (06:50): But I think that, that, you know, creating that kind of thing, there are many, many businesses that that can benefit from that. Hey, eCommerce brands did, you know, there's an automated marketing platform. That's 100% designed for your online business. It's called drip. And it's got all the data insights, segmentation, savvy, and email and SMS marketing tools. You need to connect with customers on a human level, make boatloads of sales and grow with Gusto. Try drip for 14 days, no credit card required and start turning emails into earnings. And SMS sends into ch CHS try drip free for 14 days. Just go to go.drip.com/ducttape marketingpod. That's go.drip.com/ducttapemarketingpod.
John Jantsch (07:42): All right. The seventh idea is something I call or a referral mastermind system. So the idea behind this, and this is, I think this can work for a lot of types of businesses, but any business that has clients, businesses has clients.
John Jantsch (08:00): I, I will have that caveat you'd need to be selling to businesses for this to work. One of the things that most of those businesses want is more business is more referrals now, regardless of what you do, obviously it's very natural. I do. I'm a marketing consultant. So me going to, to clients and saying, let me teach you how to generate referrals for your business. I mean, that's a very, very logical thing, but you don't have to be, imagine that financial planner I talked about, and they let's say they were working with businesses or law firm, it doesn't really matter. You're working with businesses. Well, all of those businesses, yes, they want what you do for them, but they also want more business
John Jantsch (08:58): Right? In fact, you could do this in one, on one or, or certainly in groups, you could create some sort of compensation or point system where, you know, people are, you're teaching a referral topic, but you're teaching them a referral topic each month. You're, you're getting them together to talk about how to generate more referrals, or maybe just effectively talking about what they did that month to, to generate referrals. Maybe in some cases they would actually refer each other. In fact, in a lot of instances where if you're B, if your clientele is primarily B2B, that's probably going to happen, but ultimately what's gonna happen is they're going to refer business to you. If you, if you help somebody get more referrals, it is just sort of a, a human law of human nature. I never can say that word reciprocity. There we go. You know, just happens.
John Jantsch (09:52): I mean, if you're teaching somebody how to generate more referrals, they're going to, to, to really reply and kind, and generally speaking, you know, you're the financial planner or you're the lawyer. Who's actually not only doing the legal work that you are hired to do. You're actually teaching them how to build their business. Who's not gonna refer
John Jantsch (10:42): The ultimate marketing engine comes to mind. I wrote another book called the referral engine, you know, pick up either one of those books and you'll have a whole curriculum for what to teach in your, you know, if you, if you take this idea and you know, you spend a few, uh, your monthly meeting might look like you're spending a, you know, a few minutes meeting and greeting, then people will just go around and share, Hey, here's a success I had then maybe for 20 minutes, you teach a key lesson. Then a lot of times in mastermind groups, it's very common to say, put somebody in a hot seat and say, well, here's, you know, let's talk about a challenge you're having. And then obviously if there's any way to share referrals in, you know, in that, you know, or somebody can say, Hey, here's a referral I'm looking for.
John Jantsch (11:21): I, I think just these won't have to be that structured. I, I, I believe in experience teaches me, has taught me that, you know, just bringing people together, even with a loose agenda is going to bear fruit. They're going to find, uh, that valuable. So it's, if that's the case, it's certainly gonna be worth the time that you invest in doing it. All right. So that's my seven grades of referral fuel. Hopefully you've got some, uh, extra tips and ideas out of the, we'll try to connect the whole series for you. There are actually five. This is number five of five. Hopefully you've had a chance to listen to the other four. If not, you can find them at ducttape.me/podcast. All right. Take care out there. And hopefully we'll see you someday soon out there on the road.
John Jantsch (12:07): Hey, and one final thing before you go, you know how I talk about marketing strategy strategy before tactics? Well, sometimes it can be hard to understand where you stand in that what needs to be done with regard to creating a marketing strategy. So we created a free tool for you. It's called the marketing strategy assessment. You can find it @ marketingassessment.co not.com.co check out our free marketing assessment and learn where you are with your strategy today. That's just marketingassessment.co I'd love to chat with you about the results that you get.
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This episode of the Duct Tape Marketing Podcast is brought to you by the HubSpot Podcast Network and Drip.
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