Driving Spheres of Influence

Previously, we’ve discussed spheres of influence.  In networking, a sphere of influence is made up of those associates who together you can drive a lot of business among you through referrals.  In a sphere of influence, the sum of the parts is greater than the whole.  Together, you can bring more value to customers than individually.  We think of members of spheres of influence as associates who together can work with a single customer to complete a transaction.  For instance, suppose our customer is buying a house.  He needs an attorney, a real estate agent, a mortgage broker, a home inspector, and an insurance agent.  After the close, he will need a home remodeler, a landscaper, a flooring provider.  This group is a sphere of influence.  The traditional way to get a sphere of influence going is to meet periodically to understand each other’s business, set goals, and trade leads.  The sphere of influence agrees to promote each other’s business throughout the transaction.  By making this pact, no matter who discovers the prospect, all benefit.   

Another way to operate is to take a more active stance.  Instead of waiting for a client to come along, you can market your sphere of influence.  Target a market segment, define a joint service offering, and pick a marketing method – ads, the web, radio, joint seminars, any method that’s right for that market segment.  As an example, let’s pick startup businesses as a segment of customers.  What are their needs?  Well, they need brochures,, business cards, a website at minimum.  They may need a logo, a lawyer for incorporation, letterhead, office space, rental office furniture, a computer system, insurance, a business plan, business banking, an accountant, a business plan.  So how about putting together a Business Starter Package with options to buy all of the stuff in one spot!  We can produce a brochure or flier for this business offering, put together a website, do a pay per click ad to drive entrepreneurs to the website.  Everyone benefits -  Internet consultants, professional writers, business advisers, attorneys, printers, insurance agents, office equipment providers, computer system providers, you name it.   

This same idea can be used for many different customer segments:  For the real estate example above; car dealers, a marketing package could be created. with promotional products, ads in yellow pages or news papers, radio spots;  for the health care community, it could be a total office solution with computer systems, office equipment, stationery and business cards;…the list of ideas goes on.