Hyderabad|India|May'2012: Getting new business is
a constant struggle for many small companies. A lot of companies market
aggressively and spend a lot of money to increase brand awareness. But,
what about small businesses. They can't spend money on marketing. So
business referral organisaiton comes into help.
You want to buy anything, you want to go a film, you ask a person or seek
reference. Based on this concept, Business Network International(BNI)
formed in USA several years ago. The BNI India started a new chapter
called 'Artha' at Hyderabad.This is the first Chapter for Referrals in
Business Network International India(BNI)-India, the world's largest word
of mouth/referral organization arrives in Andhra Pradesh. Launched its
first Chapter in Andhra Pradesh at Hyderabad. With this new Chapter, BNI
has 54 Chapters in India. BNI has 6000plus chapters in over 48 countries.
The New Chapter in city has has 30 members. We will reach to 10 Chapters
in Andhra Pradesh in next one year informed, Bharat Shah, Regional
Director—Hyderabad of BNI India. BNI India has well over 1800 members.
BNI is a 27 year old business and professional organisation that allows
only one person from each trade or profession to join a chapter. By
joining a BNI chapter, your business instantly is part of a community of
other regional business people - you gain exposure, professional contacts,
business referrals and the oppurtunity for increased revenues. Each one
member of the Chapter promotes the business of other members. Which means
many members promote by word of mouth of another members business. This
referral business is catching up like wild fire across the globe and now
BNI has over 140,000 members worldwide, in 48 different countries, from
over 300 different types of professions… all of whom have benefited from
increased referral business as a result of BNI. In 2011, BNI helped
generate 6.9 million referrals which generated Rs. 15,500 crores (US$3.1
Billion) of business world wide. Belonging to BNI is like having dozens of
salespeople representing your business. BNI India is the Indian Chapter
with many local chapters attached to it said Mr. Niiraj R Shah
(Co-National Director), BNI India, in a press note issued in city today.
Each week, BNI members meet with their local group and exchange business
We see Rs 20,000 Crore Referral Marketing Opportunity In India. We expect
rapid growth in the referral marketing industry in India in near future.
BNI India now targets the business of Rs 20,000 crore in the next 10
years, informed Mr. Niiraj R. Shah. BNI offers its members the opportunity
to share ideas, contacts and most importantly, business referrals. BNI
India is helped its members generate over 300.5 crores of business in 2011
in India, disclosed Mr. Niiraj R. Shah.
Despite the importance of referrals companies are very poor at actively
triggering referrals. In fact, practically every company the world over
has a marketing plan which has a section for advertising, PR, brochure
design and print, e-commerce, etc. But they do not have a section on
referrals. In other words, companies do not strategically focus on
increasing the amount of referral business they get even though their
customers are craving referrals. Imagine if a company found a proven way
to generate more referrals than ever before. They would grab it with open
hands. And that is exactly what BNI is: A forum for helping businesses
create more word of mouth business, more referrals, than they ever had
before informed Mr. Murali Srinivasan District Director-South India of BNI
Speaking further Mr. Niiraj Shah added that the our members meet once a
week on pre determined date and time. The weekly meetings last for 90
minutes. Members need to arrive on time and stay for the entire meeting.
All participants expected to represent their primary occupation.
Attendance to the meetings is critical. If a member cannot attend a
meeting, he/she may depute a substitute.
There is an initial application fee, annual membership dues, and chapters
may have a venue fee. Joining in such referral chapter helps substantially
increase business through referrals. This concept is doing wonders in
wherever it is launched. Now people in Andhra Pradesh will have networking
benefits through BNI.
The business of referrals makes sense for most companies because of many
reasons. It reduces sales expenses and sales cycle. It increases sales
revenue. With less time calling cold prospects, small business can focus
on customers and their circle of influence. According to world-renowned
sales trainer, Tom Hopkins, in "Sales Prospecting for Dummies"; closing
ratio for non-qualified leads is 10 percent versus a 60 percent close
ratio with referred leads.