Ways to Boost Your Referral It’s good to possess great cold calling skills, but it’s great not to have to use them. Here’s some ‘Grass roots’ tips to warm up a sales Prospecting call.

Tip # 1

Make an ‘Asking’ routine for yourself

Here’s a brilliant thought. The majority of us do not receive references on a regular basis because we do not ask for them on a regular basis. It’s almost as simple as that. What would be the benefit to your year-end W-2 if you requested each of your new clients for two referrals? Assume you make six sales every month on average. This equates to 12 referrals every month or 144 referrals per year. You close half of those warm leads conservatively. Multiply 72 by your average sale revenue. Then, based on the total revenue sold, compute your commission %. Now consider whether you can afford not to seek referrals on a regular basis.

Tip # 2

Create a ‘Set the Stage’ procedure

It’s one thing to ask for a referral, but how often do you actually get one? After you’ve signed up a new customer, run a Powerful Routine and ask for 3 more minutes to receive their professional input. Ask a series of questions to get their feedback on how you can improve your sales process, from initial contact through point of sale, with people in the same industry and with similar job titles. You’re laying the foundation for your future success right now. Your contacts will provide you with a free ‘Masters Degree’ over time. ‘Pack your luggage, but set the stage,’ as the saying goes.’

Tip # 3

Establish a “Win-Win” Agreement

When it comes to the importance of referrals for running a successful business, be honest and truthful. Tell us about yourself. Let them know if you have a high referral ratio and why it is so. A good businessperson is respected by customers more than a good salesperson. Choose a moment when the contact will feel comfortable providing a referral to assist your company. That may not occur at the point of sale, but rather when the service is implemented or at a later date after you have demonstrated that you delivered on your promises. The crucial issue is that you must determine with the contact when it can occur or what criteria must be followed in order for it to occur.

Tip # 4

Follow through in order to get a high recommendation percentage on a consistent basis

You can’t ask for a referral until (a) the service is in place and (b) the consumer is happy. However, as mentioned in Tip #3, you should at the very least establish a referral foundation at the time of sale and get a promise as to when you’ll receive one. This is critical right now. When the expectation is set, always write it down in your day timer in front of the contact and let them know you’re noting it down. Treat it as if it were a meeting for your future success. It’s new business, and it’ll help you increase your closing ratio, shorten your sales cycle, and, most importantly, get more recommendations! As a result, follow up and get it!

Tip # 5

Create a Program for Referrals

Be inventive. Make a financial sacrifice. It may be a gift certificate to a nearby restaurant (hopefully a customer) or a progressive percentage off their next invoice. A creative mind will create a few adjustable plans that are tailored to your level of buyer. After all, you aren’t going to put anything out until the recommendation has been sold. “Money makes money,” as the old adage goes. Apart from the obvious tax implications (see your accountant), acquaintances adore receiving a small gift. The benefit will be obvious once you calculate the ROI.

Tip # 6

Take on the role of messenger

On sold referrals, make sure to pay out the referral gifts as soon as possible. Deliver it in person, since it also serves as an excellent time to prime the pump for additional referrals. Don’t underestimate the power of this simple discipline. I have experienced ‘millionaires’ who reopened their black books after receiving $20 dollar gift certificates. After all, it’s not the amount but the gesture. And because you are spending your valuable time being the messenger, you will without a doubt focus on receiving one or two more warm leads.

Tip # 7

Encourage the formation of a grass-roots chamber

Make a deal that the local Chambers of Commerce can’t refuse. Chambers aim to provide a better deal to their members than they can get on the street. They are willing to accept donations in order to aid their chamber, and they are also eager to expand their membership. Offer to bring in a set number of new members each month instead of offering a residual based on sales. After all, if you can show them a return on their investment, they will join the Chamber to obtain it. You’ll notice your recommendation ratio skyrocket if you help others!

Tip # 8

Determine if there are any potential ‘Bird Dogs.’

Hunters utilize ‘bird dogs’ to point and retrieve game birds for their owners. A ‘bird dog’ in sales is someone who has several relationships with potential consumers and is motivated to feed you contacts for your marketing efforts on a regular basis. Make a list of possible business contacts who suit this profile and invite them to lunch. Explain your referral program and how it can help them supplement their main source of money. Prepare to design your referral program to align with the goals of potential ‘Big Hitters.’ They’ll open up their Rolodex if you treat them like gold.

Tip # 9

‘Wed’ a Collaboration Partner

There are companies in your ‘value chain’ that supply products or services that do not compete directly with yours. Those organizations, as well as the professional persons that sell for them, should be a focus for you to find and approach for collaboration tactics. This type of partnership is referred to as “Natural Marriages” by me. Contact three sales professionals that appear to be a “natural fit” for you and them. Outline the benefits to them. Then inquire as to what you might fairly expect in the future.

Tip # 10

Join or form a leadership group

Isn’t it true that you have to eat lunch? So why not join or consider starting a Lead Group of driven entrepreneurs who meet twice a month to share leads? Find people who will be held accountable for bringing in the required number of leads at each meeting, as defined in your organization’s business standards. Ensure that every member is covered by the 80-20 rule, with 80% of their leads coming from 20% of the members. Don’t be afraid to charge a membership fee every quarter. Members will have some’skin in the game’ as a result.

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