Referrals. These are the best new lead sources for your business. They are the second easiest person to sell after your current clients.
Here’s three reasons why:
- They already know, like, and trust you because their friend has given you a glowing recommendation.
- They are pre-sold. Their friend has done your selling for you. They’ve set the sale up for you to close.
- They are less price resistant. After all, if their friend purchased from you and they didn’t balk at the price, chances are your referral won’t either.
Many of the referrals we have received in our business over the years have become some of our best clients.
To get referrals, your business needs to have a referral mindset. What I mean by that, is everyone in your organization needs to know what the value of a referral is, and there needs to be a formalized system in place to get them.
First, you must start off by making sure your business is referrable. Your client experience must be one of high value and quality in order for any client to pass along the “good” word about you.
Then, it’s time to identify the key areas in your business where you can ask for referrals.
For example, it may be important to let a new prospect know how important referrals are to your business in your initial meeting with them, and that you will be asking for referrals at several points throughout your relationship.
Typically, the best time to ask for a referral is when the client is basking in the glory of their purchase. You may identify other key areas in your prospecting and sales processes where you can cultivate referrals.
The best advice is to ask, ask, and ask again for referrals. It takes courage to do this but the worst thing a client can say is, “I can’t think of anyone right now.” That’s not so bad, is it?