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 there. And a few will get several. However, most of these 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 who have found a way to not only generate more than just a few referrals, but somehow they manage to generate enough to run very successful sales practices almost exclusively off referrals.
Do they have some great secret not everyone else knows?
Actually, in a sense, yes. They’ve learned that what everybody else does doesn’t work. In addition, 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.
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 over half of the salespeople 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 them. 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.
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 or phone call.
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.
Paul McCord is a leading authority on prospecting, referral selling, and personal marketing. He is president of McCord and Associates, a Houston, Texas based sales training, coaching, and consulting company. His first book, Creating a Million Dollar a Year Sales Income: Sales Success through Client Referrals (John Wiley and Sons, 2007), is an Amazon and Barnes and Noble best-seller and is quickly becoming recognized as the authoritative work on referral selling. His second book, SuperStar Selling: 12 Keys to Becoming a Sales SuperStar will be released in February, 2008. He may be reached at pmccord@mccordandassociates.com or visit his sales training website at www.powerreferralselling.com
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