Upstream & Downstream Referral Sources

Upstream & Downstream Referral Sources
Who are your upstream and downstream referral sources?

We have all heard the saying, "It's hard to go upstream without a paddle".   The same concept applies in referral generation.  Some people in your sphere are sitting "upstream" from you which means they have a natural way of sending referrals "downstream" to you.    

Let's use the example of a real estate agent to illustrate the point.   Here is a short list of professions that are downstream from a real estate agent:

Mortgage Lenders, Home Inspectors, Attorneys, Title Companies, Pest Inspectors, to name a few.  There are many more.  

In fact I would argue that the real estate agents have more professions downstream from them than just about any other profession.  

NuOp exists because we knew how many referrals real estate agents give out and how few they get in return.  That is what we call the "reciprocity gap".  NuOp is a tool that helps service professionals close the reciprocity gap.

Real estate agents are usually at the beginning of the home buying process so it's natural that their clients would ask them who they recommend for all sorts of services.  A home inspector sits downstream from the real estate agent because their job begins after the buyer has identified the home they want to purchase.  In other words the home inspector is further down the line in terms of the home buying process, ie "downstream".  

What if you are similar to a real estate agent and you are sending lots of referrals down stream and not seeing much in return?  What can you do to get more of a return from that steady flow of business you provide?  

And furthermore, what if you are sitting downstream from great referral sources, what can you do to continue that flow?

The first step of keeping your referral sources flowing in either direction is tracking.  If you do not know where your referrals are going to and coming from you don't stand much of a chance to expand either one.  

The second step is to ensure that you are maintaining those relationships effectively whether they are upstream or downstream.  If they are upstream you want to nurture them.  If they are downstream you want to gently remind them about your value.  

NuOp is a tool designed to help you with tracking both upstream and downstream referral sources. It also provides you with 8 key actions you can take regularly to help you nurture the upstream and gently remind the downstream.  Our essential plan is free for life so you have nothing to lose.  Sign up today.

Make sure to subscribe so that you can get more tips and strategies on referral generation delivered right to your inbox.