How the Top EF Referral Partners Are Set to Make Up To $61K This Year
August 29, 2022
We’ve started a new referral program that helps people share in the success of online businesses without having to own an online business themselves.
By simply referring buyers and sellers to Empire Flippers, our referral partners can earn 20% of our commission made on every successful deal they refer.
The program has been open to the public for four months now, and a few of our new referral partners have figured out the key to sourcing high-quality leads.
Since the referral program is all about sharing in each other’s successes, I’m going to share with you the strategies our top-performing referral partner’s used to earn up to $61,000 in success fees.
Word of Mouth/Personal Experience
Word of mouth marketing is a largely underappreciated marketing channel. Not only is it inexpensive, but it’s extremely effective.
According to a recent survey, 92% of people will trust a recommendation from friends or family over any other type of marketing.
The key element here is trust. You’re not a faceless company promoting a product that may or may not work. You’re a close personal connection who can demonstrate the effectiveness of the product on offer.
This is why some of our most successful referral partners are previous customers.
Having bought or sold businesses through Empire Flippers, they have first-hand experience of the services we offer.
One of our referral partners, who previously sold her business on our marketplace, has reached out to her personal network of friends and family to promote the referral program. To date, she has made $7,000 using this approach.
Professional Networking
There’s an old marketing saying “People buy people first, and whatever else second.”
Human connection is often the key to selling anything. If your friends and family don’t fit the bill for the referral program, then your professional network should be your next port of call.
Building a professional network from scratch takes time. In the beginning, it’s a tool that will help you find future business opportunities rather than generating immediate leads.
However, if you’ve already cultivated a professional network, or regularly attend business conferences and events, you’ve got access to a pool of valuable connections from which you can extract referrals.
One of our leading referral partners is doing just that. He works as a professional consultant, and regularly hosts masterminds to expand his network.
Having spent years building his reputation and a trusted name for himself, he is now in a prime position to promote the benefits of the EF Referral program to his peers.
Leveraging his professional network has helped this referral partner earn $61,000 from his referrals so far.
Influencer Marketing
Do you produce content aimed at members of the online business community? Whether you’re making blog articles, YouTube videos, or other online media, you can attach your unique referral link to your content.
You don’t have to be a celebrity to make use of influencer marketing. Being the host of a podcast or Youtube channel, author of a blog, or speaker at a professional event all lend you authority.
All you really need is knowledge and insight on a particular topic/ industry, and the confidence to present your thoughts to an audience. Since the online business industry is still fairly new, there is a lot of room for growth, making this niche a prime place to make money by becoming an influencer.
As the term influencer marketing suggests, you are leveraging your authority to influence your audience to buy a particular product or service.
But influence and persuasion aren’t a given. You need to earn the trust of your audience first. You can do this by providing real value to your audience through your content, maintaining consistency in your brand and quality, and being relatable by connecting with your audience on a human level.
One of our top-performing referral partners put influencer marketing to the test by advertising the referral program on a podcast he hosts. This strategy has helped him earn $23,500 in referral commission so far.
Referrals From an Existing Business or Course
Both professional networking and influencer marketing help you find referral leads using existing projects. If you already work in the online business industry, you can take this one step further by sourcing referrals directly from your client base.
If you work with business owners who are burned out or are trying to raise funding to scale, you could propose the idea of selling their business and share in their success when they make their exit.
The referral program can form a symbiotic relationship with your existing business, feeding off of the same clients, or offering an alternative solution to people who you wouldn’t normally be able to service.
The benefit of this strategy is that you already have a relationship with your potential referrals. You likely also have enough basic information about them to know if they would qualify as a good referral or not.
If you run an SEO agency, you can market the referral program to content site owners. If you operate a 3PL or logistics company, your existing database of eCommerce owners can serve as leads for the referral program.
One of our referral partners used this strategy himself, using his existing online course to drive referrals. By simply educating his students about how to exit their businesses, this referral partner has already made $10,000 in referral commission.
Good Things Take Time
While there’s a lot of money to be made through the Empire Flippers referral program, it’s important to note that it’s not an overnight process.
There are many steps involved with buying and selling businesses, and the businesses you refer need to complete the vetting, sales, and migration processes before you’ll receive your commission.
Smaller businesses pass through these stages fairly quickly. Bigger businesses are slower to sell since they are generally more complex and come with a higher price tag, but the commission you’ll receive for higher-priced businesses is well worth the wait.
On average, businesses take 3-4 months to pass from being listed on our marketplace to completing the migration process.
You can track the progress of all of your referrals in your dedicated Referral Partner Dashboard.
Become a Referral Partner and Start Earning Today
As you can see, there’s a lot of money to be made as an EF referral partner.
If you’re keen to share in the success of our business sales and acquisitions, sign up to be a referral partner today.
Our Partnerships Manager will review your application to see if you qualify for the program. Once approved, you’ll have access to a dedicated dashboard where you can track the progress of your referred deals and generate custom referral links to send to your audience.
Remember, you can refer both buyers and sellers.
Your referral links contain a cookie that lasts for 2 years. That means you’ll get paid on any successful deal you refer for 2 years after your referral link has been clicked.
If multiple businesses are bought or sold by your referral, you’ll get paid for EVERY deal made within the 2-year time period.
It’s a win-win-win situation for you, your referral, and Empire Flippers.
So what are you waiting for? Become a referral partner today to earn 20% of Our Commissions made on every deal you refer.
