Centres of influence

Centres of Influence (COI’s), sometimes referred to as Circles of Influence, is a common marketing term that describes the key people within a businesses target client segment they wish to penetrate.

Building a COI network takes time and a common mistake businesses make when engaging with COI’s is to expect immediate results. These professional advisers of customers generally take a lot longer to develop trust with than what it takes for a satisfied customer to refer a friend.[1]

The benefits of this referral isn't only towards the business being advocated, but also to the referee. They are motivated to make the referral as it will increase their standing amongst their peers; as such the referral acts as social currency and both parties benefit.[2]

References

  1. ↑ Dagher, Veronica (16 August 2013). "Don't make these mistakes with Centres of Influence". Retrieved 26 August 2015.
  2. ↑ Wershing, Stephen (2 October 2012). United States of America: McGraw-Hill Education. pp. 162–163. ISBN 0071808191. Missing or empty |title= (help)
This article is issued from Wikipedia - version of the Sunday, December 27, 2015. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.