Sales trainer Keith Abraham says referrals are the most powerful form of marketing available and, more importantly are very cost-effective. He thinks there are nine ‘must do’ strategies.
1. Plant the seed with your client
Let your client or prospective client know that you like to work off referrals in your business. So, if they are satisfied with the product and service you provided to them, then would they consider referring you onto their friends, like-minded people and associates?
2. Tell referral stories at meetings
Share stories of other clients that have been referred to you for your services. It may be as simple as relating a situation about some of your clients that have been referred to you.
3. Check if the client is 100 per cent satisfied with you
After you have completed the sale, check if the client is totally satisfied with their purchasing experience. Mention to your client that over the next month they may find that some of their friends and associates may be interested in finding out more about how their new product is working for them. If so, just let you know and you would be happy to send them some information or meet with them personally.
4. Ask for referrals from your clients
Before you ask for referrals think about your approach with your client. A phrase you could use is: “Do you know anyone that would benefit from a simular service experience as much as you have?” You may want to share with the client the profile of who you like to work with in your business
5. Consider four ways to contact the referrals
- Call them and use the client’s name as a point of reference
- The client can call the referral and then you call them
- Your client can write to them with your details or brochure and then you call the referral
- Finally, one of the best ways, but also the most difficult, is to set up a three way meeting between you, your client and their associate who they want to refer to you.
6. Think about your approach to the person who has been referred to you
Write out your approach and script it but don’t read it. Prepare yourself mentally so you can produce the best possible physical effect.
7. Contact the prospective new client
All referrals have a shelf-life, so don’t take forever to contact them.
8. Give feedback to your client
It is important for the continuation of the referral process that you get back in touch with your client and let them know what happened with the person they referred to you. Thank them for helping you build your business and their support.
9. Reward borrowers who give referrals
Always remember what gets rewarded, gets repeated. If you want to get your client to give you additional referrals, write them a note to say thank you or send them a small gift. Whether anything happens as a result of that referral or not, reward them.
A final point – don’t be afraid to talk about your business wherever you go. Work out subtle ways to talk up the value of your business to borrowers and you will plant the seed and generate leads that are easy to convert.