Comments on: Is Paying Referral Fees Wrong? http://bly.com/blog/general/is-paying-referral-fees-wrong/ bly.com direct marketing blog Tue, 22 May 2012 02:52:53 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Errand Boys http://bly.com/blog/general/is-paying-referral-fees-wrong/#comment-682163 Errand Boys Fri, 02 Mar 2012 03:54:13 +0000 http://www.bly.com/blog/?p=177#comment-682163 Sorry, meant to say I wouldn't feel comfortable taking 2,000 of a 20,000 job. Sorry, meant to say I wouldn’t feel comfortable taking 2,000 of a 20,000 job.

]]> By: Errand Boys http://bly.com/blog/general/is-paying-referral-fees-wrong/#comment-682162 Errand Boys Fri, 02 Mar 2012 03:52:27 +0000 http://www.bly.com/blog/?p=177#comment-682162 This is interesting, I felt the same way as you did Bob regarding referral fees when I first started my business. I would simply refer someone who called me via my marketing expenses to someone who could do the job for them. Due to the structure of my business it seemed like I was providing more referrals to other businesses then I was getting back. This started to eat up my precious time as well and in business time is money. Eventually it got to the point where I had to ask myself, is this a business or a charity? You shouldn't get any bad vibe by taking a referral fee. Your making money for someone else for a small fee and if you think about it. If you could fill your schedule with work all day all week for a small fee, wouldn't you be willing to pay? It would fall under marketing expenses anyway. Think of it like running a newspaper add. You're paying the newspaper to find you referrals but they don't even guarantee you referrals. Select a referral fee you would be comfortable with and run with it. You can even put a cap on it not exceed this amount if you don't feel comfortable taking 10% of a 20,000 job. I know I would feel comfortable taking 2,000 of a 20,000 job. More like 200.00 would be okay with me. Just food for thought. Good Luck! This is interesting, I felt the same way as you did Bob regarding referral fees when I first started my business. I would simply refer someone who called me via my marketing expenses to someone who could do the job for them. Due to the structure of my business it seemed like I was providing more referrals to other businesses then I was getting back. This started to eat up my precious time as well and in business time is money. Eventually it got to the point where I had to ask myself, is this a business or a charity? You shouldn’t get any bad vibe by taking a referral fee. Your making money for someone else for a small fee and if you think about it. If you could fill your schedule with work all day all week for a small fee, wouldn’t you be willing to pay? It would fall under marketing expenses anyway. Think of it like running a newspaper add. You’re paying the newspaper to find you referrals but they don’t even guarantee you referrals. Select a referral fee you would be comfortable with and run with it. You can even put a cap on it not exceed this amount if you don’t feel comfortable taking 10% of a 20,000 job. I know I would feel comfortable taking 2,000 of a 20,000 job. More like 200.00 would be okay with me. Just food for thought. Good Luck!

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]]> By: Laura Kenney http://bly.com/blog/general/is-paying-referral-fees-wrong/#comment-681313 Laura Kenney Wed, 31 Aug 2011 13:50:36 +0000 http://www.bly.com/blog/?p=177#comment-681313 I agree with Michael. We offer referral fees not as coercion, but as a business to business tool. If someone believes in us so much as to recommend us to their own client, it will never be because of a small referral fee, but because they feel recommending us will strengthen their relationship with their existing client. After all, a small fee never outweighs the long-term relationship with an existing client. The referral fee is a show of gratitude for the advertising that other businesses do on our behalf. We value it and we feel it is worth something. Many of our contacts refuse the referral fee, which we respect as well and we never expect one in return. To us it is a personal decision and we trust it is appreciated by those that receive it. Many times our referrals come from other professionals that have exhausted all of their resources trying to solve a problem. They come to us for the sake of their client,even though they know that once we solve the problem, the client will no longer need future services. That deserves compensation. I agree with Michael. We offer referral fees not as coercion, but as a business to business tool. If someone believes in us so much as to recommend us to their own client, it will never be because of a small referral fee, but because they feel recommending us will strengthen their relationship with their existing client. After all, a small fee never outweighs the long-term relationship with an existing client. The referral fee is a show of gratitude for the advertising that other businesses do on our behalf. We value it and we feel it is worth something. Many of our contacts refuse the referral fee, which we respect as well and we never expect one in return. To us it is a personal decision and we trust it is appreciated by those that receive it. Many times our referrals come from other professionals that have exhausted all of their resources trying to solve a problem. They come to us for the sake of their client,even though they know that once we solve the problem, the client will no longer need future services. That deserves compensation.

]]> By: Michael Keough http://bly.com/blog/general/is-paying-referral-fees-wrong/#comment-681164 Michael Keough Wed, 29 Jun 2011 15:07:26 +0000 http://www.bly.com/blog/?p=177#comment-681164 At DKText.com we give referral fees, and our take on it is not that we are bribing or manipulating people to choose our service but rather if people are going to do the leg work to promote our products, their time is worth something. Also I don't really think people will promote the product if the think its a "Lemon" that just hurts their own reputation. Just my thoughts on the matter though. At DKText.com we give referral fees, and our take on it is not that we are bribing or manipulating people to choose our service but rather if people are going to do the leg work to promote our products, their time is worth something. Also I don’t really think people will promote the product if the think its a “Lemon” that just hurts their own reputation. Just my thoughts on the matter though.

]]> By: Rick John http://bly.com/blog/general/is-paying-referral-fees-wrong/#comment-680707 Rick John Fri, 07 Jan 2011 04:12:51 +0000 http://www.bly.com/blog/?p=177#comment-680707 To me it's simple. You would have not gotten the business if it weren't for the referral so give the person who referred the business to you a gift (money is usually best). People are so selfish... In most of your defense though, I grew up with a single mother and poor so I am more appreciative than most. To me it’s simple. You would have not gotten the business if it weren’t for the referral so give the person who referred the business to you a gift (money is usually best). People are so selfish… In most of your defense though, I grew up with a single mother and poor so I am more appreciative than most.

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