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Atricle Dump - Sales Leads - All Referrals are NOT Created Equal!
The cost of presenteeism has now surpassed the cost of absenteeism. Presenteeism, which refers to sick employees who come to work instead of staying at home, now surpasses $180 billion annually. Absenteeism, where the employee does not report to work, costs $118 billion annually and medical expenses and lost productivity.Employee “illness” can be grouped into five different categories. The Society for Human Resource Management (SHRM) breaks down the impact in this way:1. Personal illnesses account for 35% 2. Family issues make up 21% 3. Personal needs combine for 18% 4. An entitlement mentality accounts for 14% 5. Stress makes up the fin
The absolute best way to earn referrals is by providing great service to your customers. It is also helpful if you set an expectation right up front that referrals are one of your preferred rewards for providing exceptional service.
When should you ask for referrals?
When you do a favor for a customer, ask for referrals. When a customer places an order, ask for referrals. If a customer comments they are happy with something that you or your company did, ask for referrals. When you help a customer solve a problem, ask for referrals.
Customers are not the only source of referrals. Anyone you speak with is a potential source of referrals. If you feel you have built credibility with someone, or they seem interested in what you do, do not hesitate to ask them for referrals.
Co
If you really want to control the outcome of your job search activities and eventually land the job that you have dreamed of, it is essential that you avoid some of the most common mistakes that many job seekers fall victim to. All you need to do is to take out all the fear and apprehension from your mind and take an analytical approach to your job search. Learn with an open mind and you will soon be proficient in interview skills and professional communication.Unimpressive ResumeThe most important document that will help you in getting a job is your resume. Therefore, it is imperative to make your resume stand out from others that may be applying for the s
Respect is a very important issue when gauging the quality of a referral. The more respect the person being referred has for the person who is making the referral, the greater the likelihood the person being referred will make the time to have a MEANINGFUL conversation with you.
Why are referrals such a great source of sales leads?
Think about it – what could be better than a respected businessperson bragging about the quality of your products, services, and/or customer service to their equally well-respected friends and associates? Do you think this kind of input might jump-start some sales cycles? Plus, which is more fun (and profitable): working with prospects who already think favorably of you and your company, or trying to get the attention of people who have no idea who you are, what you do, or the level of service that you provide?
This brings up a very important point, which is that all referrals are NOT created equal! Here are four categories of referrals, ranging from MOST effective to LEAST effective:
1. Live, In-Person Introduction
This is when your contact walks you over to a potential prospect and makes a live, in-person introduction. Ideally, the introduction includes a glowing testimonial about you, your products or services, and your company.
2. Live Telephone Introduction
If time or circumstances do not permit a live, in-person introduction (for example, your contact and the prospect work in different facilities), the next best option is a live telephone introduction. This can be a conference call or a call from a speakerphone in your contact's office. Your contact may participate in the entire conversation, or they may leave the call after making introductions.
3. Electronic Introduction
If you cannot arrange for a live in-person or telephone introduction, the next best option is for your contact to speak with, leave a voice mail for, or send an e-mail to the prospect PRIOR to you contacting them. When you make your introductory call, be sure to mention that "(Name) recently contacted you to introduce me and explain why he/she thinks it would be a good idea for us to get together."
4. Authorized Name Dropping
The least effective referral is when your contact gives you a prospect's name and phone number and permission to mention their name when you call the prospect. This is certainly "warmer" than a cold call, but it is not as effective as the other types of referrals.
Why do we overlook referrals?
Like many of the activities involved in selling, asking for referrals requires a little practice before it feels comfortable. It is not difficult to ask for referrals (“Hey, Bob, who do you know - friends, family, or business associates - who might benefit from the things we have been discussing?”). But, you need to make a CONSCIOUS EFFORT if you are going to ask for referrals as frequently as you should. Once you get in the habit of asking for referrals, it just rolls off your tongue naturally.
How do you earn referrals?
The absolute best way to earn referrals is by providing great service to your customers. It is also helpful if you set an expectation right up front that referrals are one of your preferred rewards for providing exceptional service.
When should you ask for referrals?
When you do a favor for a customer, ask for referrals. When a customer places an order, ask for referrals. If a customer comments they are happy with something that you or your company did, ask for referrals. When you help a customer solve a problem, ask for referrals.
Customers are not the only source of referrals. Anyone you speak with is a potential source of referrals. If you feel you have built credibility with someone, or they seem interested in what you do, do not hesitate to ask them for referrals.
Con
In the world of athletics there is widely accepted principle that states: “Speed Kills”. In most sporting events speed will prevail over strength and often times speed will end-up being the deciding factor between victory and defeat. As important as speed is on the field of play it has been my experience that it is even more important in the world of business. While there is little debate that speed can create an extreme competitive advantage, it is not well understood that the lack of speed can send a company (or an individual’s career) into a death spiral. Agility, fluidity, decisiveness, commitment and focus all lead to the creation of speed which results in a certaint
This brings up a very important point, which is that all referrals are NOT created equal! Here are four categories of referrals, ranging from MOST effective to LEAST effective:
1. Live, In-Person Introduction
This is when your contact walks you over to a potential prospect and makes a live, in-person introduction. Ideally, the introduction includes a glowing testimonial about you, your products or services, and your company.
2. Live Telephone Introduction
If time or circumstances do not permit a live, in-person introduction (for example, your contact and the prospect work in different facilities), the next best option is a live telephone introduction. This can be a conference call or a call from a speakerphone in your contact's office. Your contact may participate in the entire conversation, or they may leave the call after making introductions.
3. Electronic Introduction
If you cannot arrange for a live in-person or telephone introduction, the next best option is for your contact to speak with, leave a voice mail for, or send an e-mail to the prospect PRIOR to you contacting them. When you make your introductory call, be sure to mention that "(Name) recently contacted you to introduce me and explain why he/she thinks it would be a good idea for us to get together."
4. Authorized Name Dropping
The least effective referral is when your contact gives you a prospect's name and phone number and permission to mention their name when you call the prospect. This is certainly "warmer" than a cold call, but it is not as effective as the other types of referrals.
Why do we overlook referrals?
Like many of the activities involved in selling, asking for referrals requires a little practice before it feels comfortable. It is not difficult to ask for referrals (“Hey, Bob, who do you know - friends, family, or business associates - who might benefit from the things we have been discussing?”). But, you need to make a CONSCIOUS EFFORT if you are going to ask for referrals as frequently as you should. Once you get in the habit of asking for referrals, it just rolls off your tongue naturally.
How do you earn referrals?
The absolute best way to earn referrals is by providing great service to your customers. It is also helpful if you set an expectation right up front that referrals are one of your preferred rewards for providing exceptional service.
When should you ask for referrals?
When you do a favor for a customer, ask for referrals. When a customer places an order, ask for referrals. If a customer comments they are happy with something that you or your company did, ask for referrals. When you help a customer solve a problem, ask for referrals.
Customers are not the only source of referrals. Anyone you speak with is a potential source of referrals. If you feel you have built credibility with someone, or they seem interested in what you do, do not hesitate to ask them for referrals.
Co
Want to know the simple way to get all the business you could ever handle? Charge almost nothing.That's the approach employed by busy fools anyway.Are you a busy fool? Here's a test... If nobody has ever complained about your price then you probably are.High Prices Are A Sign of High Value...
This absolutely defies logic but we nearly all fall for it.If everyone else charges an average of ?50/hour and you decide to price yourself at ?100/hour what would happen?The last time you chose a piece of hardware (DVD Player, Washing Machine, TV) how did you evaluate which product was the best and which one wasn't?Does an expensive branded
3. Electronic Introduction
If you cannot arrange for a live in-person or telephone introduction, the next best option is for your contact to speak with, leave a voice mail for, or send an e-mail to the prospect PRIOR to you contacting them. When you make your introductory call, be sure to mention that "(Name) recently contacted you to introduce me and explain why he/she thinks it would be a good idea for us to get together."
4. Authorized Name Dropping
The least effective referral is when your contact gives you a prospect's name and phone number and permission to mention their name when you call the prospect. This is certainly "warmer" than a cold call, but it is not as effective as the other types of referrals.
Why do we overlook referrals?
Like many of the activities involved in selling, asking for referrals requires a little practice before it feels comfortable. It is not difficult to ask for referrals (“Hey, Bob, who do you know - friends, family, or business associates - who might benefit from the things we have been discussing?”). But, you need to make a CONSCIOUS EFFORT if you are going to ask for referrals as frequently as you should. Once you get in the habit of asking for referrals, it just rolls off your tongue naturally.
How do you earn referrals?
The absolute best way to earn referrals is by providing great service to your customers. It is also helpful if you set an expectation right up front that referrals are one of your preferred rewards for providing exceptional service.
When should you ask for referrals?
When you do a favor for a customer, ask for referrals. When a customer places an order, ask for referrals. If a customer comments they are happy with something that you or your company did, ask for referrals. When you help a customer solve a problem, ask for referrals.
Customers are not the only source of referrals. Anyone you speak with is a potential source of referrals. If you feel you have built credibility with someone, or they seem interested in what you do, do not hesitate to ask them for referrals.
Co
The internet is slowly transforming our consumer-based society into one in which everything is wanted ‘on-demand.’ Almost anything can be ordered and paid for online, then shipped directly to the comfort of your own home. The average Joe’s ability to make money online is also expanding as well. One of the means by which normal people are more easily able to meet the needs of an ‘on-demand’ society is dropshipping.Dropshipping is when a manufacturer or supplier ships a product directly to a customer on merchant’s behalf. If you as an individual want to start your own online business but are having trouble (or don’t want to) coming up with your own product idea, you
The least effective referral is when your contact gives you a prospect's name and phone number and permission to mention their name when you call the prospect. This is certainly "warmer" than a cold call, but it is not as effective as the other types of referrals.
Why do we overlook referrals?
Like many of the activities involved in selling, asking for referrals requires a little practice before it feels comfortable. It is not difficult to ask for referrals (“Hey, Bob, who do you know - friends, family, or business associates - who might benefit from the things we have been discussing?”). But, you need to make a CONSCIOUS EFFORT if you are going to ask for referrals as frequently as you should. Once you get in the habit of asking for referrals, it just rolls off your tongue naturally.
How do you earn referrals?
The absolute best way to earn referrals is by providing great service to your customers. It is also helpful if you set an expectation right up front that referrals are one of your preferred rewards for providing exceptional service.
When should you ask for referrals?
When you do a favor for a customer, ask for referrals. When a customer places an order, ask for referrals. If a customer comments they are happy with something that you or your company did, ask for referrals. When you help a customer solve a problem, ask for referrals.
Customers are not the only source of referrals. Anyone you speak with is a potential source of referrals. If you feel you have built credibility with someone, or they seem interested in what you do, do not hesitate to ask them for referrals.
Co
Because we are salespeople we are expected to know when and how to close a deal, right. I thought so too until I tried to buy something this weekend. I guess retail sales is different because I was sending buying signals to our salesperson and he wouldn’t close us. After three solid buying signals like – “This seems like a great buy” or “It would look great in the back yard” and even “this seems like the right one for us”. We were ripe and ready to close. My wife was ready to take out the checkbook. The young man helping us was very knowledgeable about his product line and was showing us all the features and the benefits of the different units in the show room. It was a
The absolute best way to earn referrals is by providing great service to your customers. It is also helpful if you set an expectation right up front that referrals are one of your preferred rewards for providing exceptional service.
When should you ask for referrals?
When you do a favor for a customer, ask for referrals. When a customer places an order, ask for referrals. If a customer comments they are happy with something that you or your company did, ask for referrals. When you help a customer solve a problem, ask for referrals.
Customers are not the only source of referrals. Anyone you speak with is a potential source of referrals. If you feel you have built credibility with someone, or they seem interested in what you do, do not hesitate to ask them for referrals.
Conclusion
Referrals can be one of the most productive and profitable lead sources available to salespeople. However, it takes some practice to get comfortable asking for referrals. Plus, there are different kinds of referrals that produce different levels of results.
If you want maximize the positive impact of referrals on your sales opportunity pipeline, follow these steps:
1. Practice what you are going to say when asking for referrals until it rolls off your tongue naturally.
2. Hold yourself accountable for asking for referrals at EVERY opportunity. If you realize you forgot to ask for referrals during a specific meeting or phone call, no problem – call your contact back as soon as possible and ask for referrals!
3. Keep in mind that not all referrals are created equal! When you ask for referrals, always ask for in-person introductions first. If your contact can’t arrange an in-person introduction, work your way down the list of referral types from most effective to least effective.
Best wishes for sales success!
Copyright 2005 -- Alan Rigg
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