Hi all. My wife and I have recently started a business which provides a service to weddings, as well as other events (Don't worry, not photography) We have noticed that most wedding related businesses (photogs, venues, florists etc) all refer other related businesses on their websites, and in person.
I would like to know if these businesses are giving each other some sort of referral fee and if so, how it works? We would be more than happy to pay a comission to any business that refers us, but don't really know how it works,, especially in regard to keeping track of who referred the client and making sure they get what they deserve.
One idea I had was to offer a business a standard discount with us, say 20% off. They can either decide too book us at the discounted rate and charge their client full price (good for a venue) Or could use it as an incentive for clients to book with them (Book with us in November and get 20% off with companyX) which would be good for someone like a photographer.
Has anyone had experience with this? How does it work?