How To Decrease Expenses With Referral Groups
When managing our business, we’re all about the bottom line. Whether it’s through increasing referrals and resulting revenue or trimming the fat, so to speak, everything that we do in the world of business tends to fall back on the bottom line. And one of the most important parts of this is overhead costs in running our business.
But one of those costs that you might not be considering is the expense of keeping a fully staffed sales and/or marketing team in-house. After all, in this day and age of virtual expansion, you can easily find other, more affordable options to help keep the lights on at your business.
And one of those amazing ways to decrease expenses is through the use of referral groups. A convenient alternative to traditional marketing teams, referral groups help to cut the overhead costs while still providing you with all of the benefits of generating new leads and referrals. This method is also a great alternative to outsourcing your sales team in terms of dollars spent and revenue generated.
Cut the Overhead Costs
With a referral group, you can instantly slash the costs that your business faces. When employing a fully-staffed sales and / or marketing team, you’ll need to pay salaries, bonuses, and matching 401ks. When you outsource a sales team, you can help save on expenses to a degree, but you’re still stuck paying the fees.
By joining a referral group like MNO, you’re, in essence, onboarding a full sales and marketing team through your members without having to pay any commissions or salaries. You can reap the benefits of a great team with a global reach, without having to spend anything extra.
Building Lasting Relationships
When considering outsourcing a sales team vs. joining a referral group, there’s one aspect that stays center stage – relationships. With an outsourced sales team, you’re potentially sacrificing this important area. On the other hand, joining a referral group gives you the opportunity to build strong, unbreakable relationships with your fellow members due to the passing of referrals and connections between each other.
Get Ahead With MNO & Referral Networking
If you’re ready to take your reach to a whole new level and cut out expenses with referral groups, we’re here to help. With the MNO Member App, you have the ability to track all referrals passed and generated between members. In addition, you can also keep an eye on the actual business bucks generated from those referrals.
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