Our structured approach to teaching the value of referrals, how to gain and give referrals, and key tools to networking all add to the bottom line
TAMPA, Fla. (PRWEB) November 19, 2012
A new study from Business Network International (BNI), a professional networking organization dedicated to helping members build their business through referrals, reveals that BNI members in one region generated $156 million for fellow members—and credits the Referral Institute for these high statistics.
The UK’s BNI Merseyside Region outsourced an independent organization to conduct a comprehensive survey of the value of a member’s seat in their region. In the 2012 survey, 83% of all members in the region participated in the project. The study revealed that:
● The average amount of business gained from referrals in the last 12 months was £23,700 ($37,055).
● Combining closed business in the last 12 months with the average value of 2nd/3rd generation referrals in a year gives a true value of a BNI seat of £35,000 ($54,720) per year.
● On average, members who were involved in BNI for 7 years generated £245,000 (or $383,038) since they joined, thereby underpinning the lifetime value of BNI.
Tom Fleming, Executive Director for BNI’s West Central Florida chapter, says the study findings demonstrate the advantages of BNI membership and the Referral Institute training combined.
The Referral Institute provides training and tools for business professionals to achieve financial success within any and all of their networking and referral-based marketing activities. Two Referral Institute programs designed to help hone entrepreneurs’ networking and referral-based marketing skills are Certified Networker® and Room Full of Referrals™:
1. The Certified Networker program is a 12 module college level class that gives participants tools for saving time and making more money through increased referral generation.
2. The Room Full of Referrals class teaches attendees in one session how to understand basic behavioral styles that people exhibit, in order to overcome personality differences that can hamper striking up profitable relationships.
“We see that the longer a member is with BNI, and continues their education through the Referral Institute, the more referrals and inventible profit they encounter,” commented Fleming. “Our structured approach to teaching the value of referrals, how to gain and give referrals, and key tools to networking all add to the bottom line.”
Not only was the amount of money passed through referrals high, but the study showed that the longevity of membership had a direct correlation to the success and number of referrals passed.
The report showed that it took time within the first couple of years to build relationships with a return of £35,000 or $54,720. However, when you move into 3-7 years, the figures jumped to a yearly return of £200,000+, or $312,700.
The Referral Institute is opening their doors for a free Certified Networker Educational and Introductory Evening on Thursday, January 17, 2012 from 5:30-7:30 PM at the Wyndham in Tampa, FL. Attendees should RSVP by January 14 to tampa(at)referralinstitutetampa(dot)com.
For more information on the Referral Institute, visit http://www.referralinstitute.com.
About The Referral Institute and Tom Fleming
Tom Fleming is the Director of Training for the Referral Institute in Tampa, FL. Tom is sought out as a local, national and international speaker on the subjects of marketing businesses by referral and organizational development. The Referral Institute is an international franchised referral training and consulting company with locations in the United States, Australia, Canada, Germany, Ireland, Switzerland, the United Kingdom, Austria, Netherlands, Sweden, France, and the Middle East. The Referral Institute supports business professionals who rely on referrals, by creating profitable business relationships which enable business growth. The result: more money in less time, while building lifelong relationships—Referrals for Life®. For more information, visit http://www.referralinstitute.com.