First came Myspace, followed by Facebook, then came LinkedIn and last but not least, Twitter. Each social networking site is incredibly popular in its own right and they each provide a different social media service.

Myspace is renowned for giving unsigned bands and singers a platform, Facebook for socialising online and providing publicity for events/companies/charities etc, LinkedIn for business networking and Twitter for providing instant updates, thoughts and views from around the world.

So is there a need or purpose for another social networking site? Referral Key is the new site on the block, offering an online referral management system. The idea behind the site is to support a company’s referral marketing activities, with minimal effort and maximum results.

By having a profile on Referral Key, you can showcase your expertise to business professionals who are seeking to establish new referral relationships with you and also to consumers seeking the service you provide.

Referral Key relies on that good old fashioned premise – you scratch my back and I’ll scratch yours. You build your network of contacts (as you would on LinkedIn) and refer the contacts you know best and then, in exchange, they will do the same meaning everyone will benefit from the exchange. Basically, you are free from having to do all the dirty work – Referral Key does that for you and helps you keep track of every transaction.

You can also advertise your business on Referral Key and you will have the option of having your company listed by location and industry in the Membership Directory. By registering the company listing with many of the most-used search engines, the service also throws in some SEO into the mix. This enhances the chances of consumers finding your company when searching online.

There is one big difference when it comes to Referral Key. Unlike Twitter, LinkedIn and Facebook, who all offer their service for free, Referral Key charges for its networking service. You can create an account for free and you are then allowed to receive up to three referrals without incurring any charges. However, once you’ve reached three referrals you then have to decide on a membership plan. The Silver Key plan is around £6 a month and a Gold Key plan is £12 a month.

If the referrals show they create significant amounts of revenue then it would make sense to sign up for one of Referral Key’s membership plans.

And remember, it’s now what you know but who you know that counts. When it comes to using Referral Key the old saying is very relevant.

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Categories: Blog