Referral Key Claims To Get You Referrals But Let's Verify Before We Trust It

Sunday, July 31, 2011 20:56
Referral Key Claims To Get You Referrals But Let's Verify Before We Trust It

Tags: client communications | marketing | referrals | Social Media

Referral Key is slick. But before I trust it, let's verify that it is the real deal.


This Website Is For Financial Professionals Only


I received an email last week from Referral Key, inviting me to join its referral network.


After clicking on the email, I was engaged.


In seconds, I created an account, uploaded my profile, and began connecting wwith colleagues  I thought might be able to give me referrals and to whom I would feel comfortable giving referrals.



It was all done very well, and the one minute video provided was impressive. It said Referral Key is the world largest referral network and that in about a minute I would learn how to generate a referral today.


The video tells the story of a user whose friend, Susan, is looking for an accountant to prepare her taxes. The user says that he knows someone who is not only a good accountant but was even willing to reward him with $45 for every referral I sent him resulting in business.


In the video, the user sends his friend the accountant Susan’s contact information. Sending her contact information rather than waiting for Susan to get in touch with the accountant is 80% more likely to result in a sale, says the video.


Now, I started to become skeptical. Where did the 80% figure came from? And what about the privacy implications of handing out someone’s contact information without asking first?Moreover, how about the payment? Such a payment made by an RIA without proper disclosure would be against the law.


Still Referral Key was slick and could have some potential. 


While the way it entices you to upload all of your social networking or Outlook contacts makes me more skeptical, it could be that I'm just a curmedgeon.


So I am asking you. Have you used Referral Key? Have you had any success? Please post a comment and let us know.



Comments (2)

A few months ago I started receiving e-mails and messages all titled “Are you taking on new clients?” After a little investigation I found most of these e-mails were from my lesser-known LinkedIn and Facebook contacts and all were introducing me to Referral Key. While Referral Key’s description sounded interesting, I really wasn't prepared to engage in yet another “networking” site, especially one with a multi-level marketing feel and not a professional network.

The way it was presented, as you said, is “SPAMy” and had me deleting all messages with “Are you taking on new clients?” coming my way. Is there a disconnect between the intent and the execution?
islanderbaw , August 03, 2011
Has anyone had success with Referral Key? Or failure? While touching many with these emails, it seems to attract few users based on the lack of comments so far.
agluck , August 03, 2011

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