VCP – An Important Acronym When Seeking Referrals

VCP stands for “Visibility”, “Credibility”, and “Profitability”, and is an acronym that was coined by Ivan Misner, the founder of BNI. VCP is a telling overview of the process involved when working to establish a reciprocal referral partner, and also acts to better develop a keen understanding of the process to effectively identify who to have a reciprocal referral relationship with and how to qualify those to include in your network of referred professionals. The building of a referral network – your circle of trusted professionals who you refer, and who refer you – isn’t just about meeting someone who fits a category that you’re trying to fulfill. It’s about knowing when, and how to ask, and a compatibility and like mindedness to establish credibility ultimately leading to a mutually profitable and successful relationship.

Mike Macedonio, the President and Partner of the Referral Institute, the world’s leading referral training organization, illustrates VCP well in this article at the Referral Institute web site.

Comment or share you stories with us about how VCP has played into the establishment or management of your referral network.

Posted in Referral Networks, Tips & Advice, Word Of Mouth Marketing Bookmark the permalink

2 Responses to VCP – An Important Acronym When Seeking Referrals

  1. Mark Storey says:

    Like Mike says, VCP is an important tool for anyone who relies on relationships to develop their clientele. I use it to evaluate my relationships with my referral partners, which helps me determine next steps in moving those relationships forward. Oh, and don’t think you can go straight to Profitability without first going through Visibility and Credibility. That’s just not possible.

    • Chris says:

      Hi Mark,

      Thanks for your comment. I couldn’t agree with you more. You need to establish credibility with people, much like you would with a customer, before you can assume they’ll simply put their reputations on the line with a referral to you. I think the literal advancement through the acronym is what need to occur for successful relationships to be cultivated.
      Also..thanks for signing up for our updates.

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