As you prospect for new clients and attempt to grow your customer base, ask yourself these questions:
• How many active clients or customers do you currently have?
• How many of those have you spoken to in the last 30 days?
• How many of those clients and customers did you ask for a referral?
• And, maybe the most important question: How much money have you left on the table by not doing so?
Studies show that sales professionals who actively seek out and follow-up on referrals earn four to five times more than those who don’t. What’s more, over 90% of customers who are asked say they’d be happy to provide referrals, but only 11% of all salespeople remember to, or are comfortable, asking. Why is that?
The fact of the matter is that some of the people you ask will never give you a referral. They’re not comfortable, it’s against their principles or, maybe, they just don’t trust you. Some will always give you a name and a number to contact, even without your asking. They may not know the person well, but they are always trying to help. These referrals often go nowhere.
But most of the people who know, like and trust you would be happy to give you one; they may have never been asked or, simply, just not know how. Your job is to make it easy on them. Here are three ideas that will increase your odds of getting quality referrals from your clients and customers:
1) Who, specifically are you looking for? What companies and industries are you targeting? What are the characteristics of your ideal prospect? What kinds of “pains” might they be experiencing? Make sure you are ready to articulate that to your referral source so they can respond with people they might know.
2) Are you “referable?” Have you earned a referral? Are you likable? Are you reliable? Are you a content expert? Are you trustworthy? Do you have a good track record? Are you a resource for your clients and customers? People aren’t likely to give you a referral unless you’ve earned it.
3) After you’ve earned it, just remember to ask. As hockey Hall-of-Famer Wayne Gretzky once said, “You miss 100% of the shots you don’t take!”
Make an effort to ask for at least one referral every day – if you’re sure that you’ve earned it!
[FREE REPORT] How Builders and Remodelers can Increase Referrals
Jim brings over 35 years of sales, management and marketing experience to the "training table." He has coached hundreds of business owners, sales executives, managers, and corporations to help them achieve greater levels of success and productivity. His areas of expertise range from sales and management training in the advertising and sports marketing fields to professional and business-to-business services, continuing education, new business development, staff hiring and assessments.
