by Paul McCord
Every salesperson has heard that referrals are by far the best prospecting and marketing method in existence. Yet, very few salespeople actually get very many high quality referrals.
Some manage to get a name and phone number here and another there. A few will
manage to get several. However, most of these “referrals” are worthless--just names and phone numbers of people or businesses that have no interest in or need for or can’t afford the salesperson’s product or service.
Nevertheless, there are a few salespeople and business owners who have found a way to not only generate more than just a few referrals, but somehow they manage to generate enough high quality referrals to run very successful sales practices almost exclusively from the referrals they receive from their clients.
Do they have some great secret the rest of us don’t know?
Actually, in a sense, yes. They’ve learned that what most of us are doing to get referrals doesn’t work. Moreover, they have learned ways that do work.
Let’s look at seven of the most basic things these mega-referral producers have learned:
1. Ask for referrals: Sounds stupid right? If you don’t ask, how do you expect to get them? Unfortunately, over 50% of salespeople simply never ask—and the majority who do ‘ask,’ really don’t ask for referrals.
2. Ask more than once: Statistics show that if you ask for referrals twice, you’ll get twice as many as if you only ask once.
3. Really Ask: Asking means a direct request for referrals. Studies have also shown that the majority of salespeople and business owners who ask for referrals don’t really ask--they suggest. They’ll say something like “Don, if you happen to run across someone who could use my service, would you give them one of my cards?” and then they hand the client a bunch of cards—that usually go straight into the trash.
4. Let the client know who’s a good referral: Very few salespeople ever define for the client who a good referral is. They assume the client knows. Bad assumption. Clients aren’t in your business. Why should they know? You have to let them know exactly who you’re looking for.
5. Help them: Make some suggestions as to people whom they might know. If you’re selling insurance and your client builds homes, whom do you think they might know? Tons of contractors, realtors, vendors and suppliers, that’s who. Suggest some of those folks you know you’d like to be referred to—they just might know them.
6. Give them time to think: Don’t ask for referrals and stand there waiting for an answer. When you put your client on the spot like that, they aren’t going to come up with a ton of great referrals. Ask and then let them know exactly when you’ll get back to them to get the referrals. They need time to think and 10 or 15 seconds won’t cut it if you want quality referrals.
7. Don’t get names and phone numbers, get introduced: A name and phone number is just a name and phone number. Get introduced to the prospect through an introduction letter, phone call, or lunch meeting.
Mega-referral producers have a detailed process they use to generate a large number of
high quality referrals from every one of their clients and even prospects. They have developed a disciplined and effective procedure they use with each client that leads to a predictable end—receiving a large number of high quality referrals.
But even without learning the process they use, if you simply implement these 7 simple tips, you’ll increase both the number and quality of the referrals you receive from your clients immediately.
Every salesperson has heard that referrals are by far the best prospecting and marketing method in existence. Yet, very few salespeople actually get very many high quality referrals.
Some manage to get a name and phone number here and another there. A few will
manage to get several. However, most of these “referrals” are worthless--just names and phone numbers of people or businesses that have no interest in or need for or can’t afford the salesperson’s product or service.Nevertheless, there are a few salespeople and business owners who have found a way to not only generate more than just a few referrals, but somehow they manage to generate enough high quality referrals to run very successful sales practices almost exclusively from the referrals they receive from their clients.
Do they have some great secret the rest of us don’t know?
Actually, in a sense, yes. They’ve learned that what most of us are doing to get referrals doesn’t work. Moreover, they have learned ways that do work.
Let’s look at seven of the most basic things these mega-referral producers have learned:
1. Ask for referrals: Sounds stupid right? If you don’t ask, how do you expect to get them? Unfortunately, over 50% of salespeople simply never ask—and the majority who do ‘ask,’ really don’t ask for referrals.
2. Ask more than once: Statistics show that if you ask for referrals twice, you’ll get twice as many as if you only ask once.
3. Really Ask: Asking means a direct request for referrals. Studies have also shown that the majority of salespeople and business owners who ask for referrals don’t really ask--they suggest. They’ll say something like “Don, if you happen to run across someone who could use my service, would you give them one of my cards?” and then they hand the client a bunch of cards—that usually go straight into the trash.4. Let the client know who’s a good referral: Very few salespeople ever define for the client who a good referral is. They assume the client knows. Bad assumption. Clients aren’t in your business. Why should they know? You have to let them know exactly who you’re looking for.
5. Help them: Make some suggestions as to people whom they might know. If you’re selling insurance and your client builds homes, whom do you think they might know? Tons of contractors, realtors, vendors and suppliers, that’s who. Suggest some of those folks you know you’d like to be referred to—they just might know them.6. Give them time to think: Don’t ask for referrals and stand there waiting for an answer. When you put your client on the spot like that, they aren’t going to come up with a ton of great referrals. Ask and then let them know exactly when you’ll get back to them to get the referrals. They need time to think and 10 or 15 seconds won’t cut it if you want quality referrals.
7. Don’t get names and phone numbers, get introduced: A name and phone number is just a name and phone number. Get introduced to the prospect through an introduction letter, phone call, or lunch meeting.
Mega-referral producers have a detailed process they use to generate a large number of
high quality referrals from every one of their clients and even prospects. They have developed a disciplined and effective procedure they use with each client that leads to a predictable end—receiving a large number of high quality referrals.But even without learning the process they use, if you simply implement these 7 simple tips, you’ll increase both the number and quality of the referrals you receive from your clients immediately.
Even when you have a referral, you may experience the frustration of trying to move your prospect to the next step. If you are struggling to move your process forward, if you are confused about how to get your prospect to take action and you feel blocked by every turn then How to Follow-up with Prospects is for you. And, because you are a subscriber to this newsletter, the Queen is offering How To Follow Up With Prospects for 20% off.
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Paul McCord is a leading business development strategist. He is president of McCord Training, a Texas based business development strategy and consulting company working with companies and sales leaders across the globe. He is the author of two best-selling business development books and his articles and interviews appear regularly in business and industry publications. His highly popular Sales and Sales Management Blog (http://salesandmanagementblog.com) is syndicated to Fox Business News, Reuters, Hoovers, and The Chicago Sun Times. He may be reached at pmccord@mccordandassociates.com or visit his website at www.mccordtraining.com.
Copyright 2007, Paul McCord. May be reproduced without change, with proper attribution and brief bio. Notice of when and where article is to appear to pmccord@mccordandassociates.com
Copyright 2007, Paul McCord. May be reproduced without change, with proper attribution and brief bio. Notice of when and where article is to appear to pmccord@mccordandassociates.com
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