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Free Referral Articles
A complete collection of Bill's best referral-related articles, each offers expert advice and proven strategies to help you become a master of referrals.
Using Referral Prospecting to Build Your Business
Without question, getting clients through referrals is the most powerful way to build your business; not to mention the most enjoyable. Bob Kerrigan, one of the most successful salespeople I know says, "The way of the world is to meet people through other people. And the referral is the warm way we get into their lives."
Do You Have A Referral Mindset?
Your foundation to building your business with referrals is the set of attitudes you bring to your prospecting efforts. This is your referral mindset. In my Unlimited Referrals Seminar, I share 10 attitudes you must develop and use to create the most powerful action in gaining an unlimited supply of high-quality referrals.
Turn Customers into Your Own Personal Sales Force with Superior Client Service
Another expert in the area of referrals, Joe Stumpf, likes to make the following distinction. Customers are people who do business with us on an ongoing basis. Clients are people who do business with us and who give us one referral. Advocates are people who do business with us and who continue to give us referrals over time. Of course, our goal should be to turn as many customers into advocates as possible. There are many critical things we must do to make this happen, two of which are: provide incredible service all the time, and let them know we value their help.
Form an Army of Referral Alliances
You may have some, or many, clients who you've turned into advocates for you and your business by delivering superior service and maintaining a meaningful relationship with them. Beyond your clients, there are many opportunities for relationships with people who can provide you with a steady stream of referrals - people who may never become clients. These people are often referred to as Centers of Influence. I call them Referral Alliances.
Your Clients Want to Give You Referrals . . . Really!
If you feel any reluctance or awkwardness about asking for referrals, it's critical you re-frame your perspective. Asking for referrals is actually another aspect of how you serve your clients. There are ways your clients benefit from giving you referrals. Once you understand this, perhaps your reluctance will subside.
What's the Best Time to Ask for A Referral
Do you ask a new prospect for a referral on the first appointment? Do you wait until the second appointment? Do you wait a year into the relationship? The answer is, "It depends." There are at least two things to consider when determining when to ask. First, value must be given and value must be recognized. Second, you must consider the personality of referral-giving candidate.
Stop Waiting to Be Referred . . . Tap into Your Goldmine of Happy Clients
How do the affluent want to meet a financial advisor like you? One recent study surveyed over 4,000 affluent individuals. It determined that the affluent would prefer to meet you either 1) through a referral from a friend or colleague, or 2) through a referral from a CPA or other trusted advisor. This article will give you my proven strategy for asking for referrals from your affluent clients (all your clients for that matter).
Eliminate Your Personal Barriers to Prospecting for Referrals
There are many barriers you may face in asking for referrals. You might be afraid of jeopardizing the relationship and future sales. You might feel you haven't served the prospect or customer enough (so you don't deserve to ask yet). You might hear "no" and think in means more than it does.
Handle Occasional Referral-Resistance With Ease
People, you included, bring a great deal of baggage to the referral process. So, every now and then you'll find someone who is uncomfortable with you asking for referrals. I suggest that you adopt an attitude of exploring obstacles. Sometimes they can be reduced or eliminated, and sometimes they can't. You want to put yourself in position to explore the obstacle to see if it can be eliminated or if you just need to move on.
Practice the Golden Rule of Referral Giving
Don't forget to go back to your clients every so often for more referrals . Take them to lunch once a year, perhaps on the anniversary of when you started doing business together. Just as you keep track of your conversations with prospects and clients about other issues, you should keep track of when you asked for referrals , what the response was, and the names you collected.
Turn Complaining Customers into Loyal Customers
In his article The Marketing Imagination, Theodore Levitt says, "One of the surest signs of a bad or declining relationship is the absence of complaints from the customer. The customer is either not being candid or not being contacted. Probably both. Communication is impaired. The absence of candor reflects the decline of trust, the deterioration of the relationship."
Lower Stress Means Higher Customer Loyalty
People experience stress around what you sell. They may experience stress from their current salesperson. Their stress may be caused by not having what you sell. They may have tension and stress around the selling process. And they may have stress in how you are selling or servicing them now. They have stress when you arrive in their life, stress during the sale, and stress after the sale has been made. It's Cooper's premise, and I agree, that identifying and reducing these stresses will put you head and shoulders above your competition. To do this, you have to really get to know your prospects and customers.
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