What do you think about referral generation as a service?

Most agencies and b2b companies I talk to get clients from referrals, word of mouth and networking events.

Problem is that its inconsistent. And cold outreach works for some and flops for others.

So Im thinking of building relelations with adjacent companies that could benefit from each other. For example:- branding agency can refer clients to web design agencies who theyve created a brand identity for but need a website. Similarly web design agencies can refer clients that need rebranding before a website.

Same could be done for other companies like cleaning services company and property management company.

Im sure some companies already have some relations like these but the referrals are probably still inconsistent.

To mitigate that we could build them a network of such relations in different industries/specialities/niches.

What do you think about this idea? Im willing to test this idea for someone for minimum costs.