The Art of the Unlimited Referral Network
“A single conversation across the table with a wise man is worth a month’s study of books” Chinese Proverb
How did you get your last major sale?
Cold calling?
Asking for a lead from someone you just met?
Getting a referral from someone you just sold?
Receiving a personal, qualified referral, not just an asked for “lead“ , is the single most powerful tool that you can find yourself with. How do you get such a referral?
Why not go out on a limb, isn’t that where the fruit is?
According to Harvey Mackay, author of Dig your well before you are thirsty, there are 4 types of people in your business environment:
1.The Advocate: They have your interest in mind and will bend over backwards to help you.
2.The Client: They have your interest in mind as long as it does not conflict with their comfort level.
3.The Customer: They do not care about you as long as they are happy with your product.
4.The Prospect/Suspect: They only want to know if you are tuned to their radio station (WII FM){“What’s in It For Me”}
The prospect/suspect is the universe of people that may or may not be interested in your product. They do not know you from Adam. All they see is a salesman that is trying to get them to buy something “that they probably don’t want, don’t need and cannot afford” 1 (Regardless of whether that is true or not, that is a prospect’s native attitude)
Jumping the gun and asking for a referral at this point is rude, unprofessional and unwarranted. A referral from them is usually almost useless.
When you are in a sales situation (which should be always in if you are serious about any advancement in your life), a new person that you meet starts out as a # 4 (Prospect/Suspect).
“People do not care what you know until they know that you care” 2. Your first job is to turn a # 4 into a # 3. Show them why they need to buy your product. Remember, “If you can not say what you mean, you do not mean what you say” 3. Once they have bought the product, they have jumped to a # 3 (Customer).
A Customer (# 3) now has an incentive to refer you to someone. They want to feel comfortable with their purchase, therefore they feel like their business associate should try the product too. A referral from a # 3 is an adequate referral.
However, “A typical business hears from only 4 % of it’s dissatisfied customers. That means that over 96% of your customers are just going to smile, tell their friends (8-10 of them) about the mediocre product…”4 .
Usually, salespeople stop after the sale. That is a major error. The sale does not end after the customer signs their name… it BEGINS when they sign their name. Over time, if they feel happy about the product you have sold them, then they may become a Client ( # 2)
A Client (# 2) will definitely refer a lot of prospects to you. They are happy with your product, they like you as a sales person and are comfortable with referring most of their customers to you.
Most of the good salespeople stop here in their business relationships. A caveat is in order here. “When a referral seems “to fall in your lap” you want to close the sale.. Don‘t…”5.
Make sure that you keep a client’s and their referral’s trust in your best interest, not being interested in the commission on that first or second sale but keeping the long picture in view. If you do that, you may just enter Nirvana and convert your client into a Advocate (# 1)!
An Advocate (# 1) will not only refer you to his best customers, but since they want you to succeed, they will do everything possible to help and may just introduce you to their “Advocates”… talk about power.
However, keep in mind that everything could come tumbling down if your ever sway from “The Power of a Promise” 6 .
Keeping honesty, sincerity and integrity in mind at all stages of the sales ladder will result in unlimited referrals, … if you give the seeds a chance to grow a tree and bear fruit.
Reference list and recommended reading:
1. ‘Getting Business To Come To You’ by Paul and Sarah Edwards
2. ‘Power Shmoozing” by Terri Mandell
3. ‘Thoughts on The Business of Life” compilation by Forbes Magazine
4. ‘How To Get Clients’ by Jeff Slutsky
5. ‘The Sales Habits of Highly Successful Salespeople’ by Stephan Schiffman
6. ‘How to Sell Yourself ‘ by Joe Girard
Additional suggested reading:
‘Business Rules of Thumb’ by Seth Godin
‘How to Win Friends and Influence People’ by Dale Carnegie
‘Beware The Man Who Offers You His Shirt’ by Harvey Mackay
‘Nice Guys Finish Last’ by Larry Steinmetz
- Provided by Capital Profit Solutions
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