Publisher's Synopsis
When getting a deal, a job, or any target oriented goal; you double your success with a referral, traditionally the closing rate is 50%. Without taking any additional time with the sales process and even less time to prospect, with results that are dramatically better. By just switching to a referral-based sales process, salespeople will see a dramatic increase in their numbers. With this kind of numbers, sales leaders often wonder why sales reps don't ask for more referrals. The reality that in general, satisfied customers are happy to provide references to their solutions providers supports this method. Studies show that 87% of satisfied customers are happy to pass leads to sales reps, but only 7% of sales reps ask for them. Two issues keep salespeople from asking for referrals: fear and ego. They face rejection on a daily basis, that fear of rejection would play a role in the seller's reluctance to ask for a referral. It's ironic, but they feel this is another way to get yet another rejection, they believe, it opens up possible adverse feedback, salespeople avoid it to keep their relationship with the prospect positive and avoid any rejection in what they may see as an additional step in the sales process. Salespeople also have big, healthy egos. They are encouraged to believe that we can sell in the face of adversity, and they have to for them to be successful sales reps. They think that their method is the best, and can sell on their own without anyone's help. It is the concept of solitary hunters that makes them reluctant to request referral because it is asking for help, a potential sign of weakness. It is important to remember that either or not you have customers or clients, in the end, what you have is humans buying from humans. And there is no better way to attract new business than to have it connected to you by somebody who is already doing business with you. You only have to stop for a moment and think about how often you make a buying decision because a friend, family member, or business associate has made a recommendation. It ranges from "How did you like the movie?" to "Who is your doctor?" If you ask somebody about a new restaurant, the response will go a long way toward determining whether or not you choose to eat there. It is the same sentiment that translates to business decisions as well. The same communications are happening with regards to your business. You are either promoted, ignored or, worse, rejected. Earn it. If you want people to support your business when the opportunity arises, or even unsolicited, then you need to make it. It means that you provide a high-quality product, experience, or service, with excellent customer service and fair pricing. It's an uncomplicated concept, but not an easy one. A happy customer would tell one person, but an angry customer would describe it to many. Now with social media, it is no longer the case. Both voices are amplified, and each business transaction you have can dramatically affect your business. Ask for the lead. Most people are certainly willing to give their thoughts if asked, but without the request, we have far too numerous other things to worry about and keeping us occupied. The best way to do it is to reward it for putting your business on the top-of-mind with your clients, friends, employees and customers, give them a reason to think and speak of you often. It can be a ceremonious program or an irregular as-you-fit, but one way or the other you need to appreciate, thank, reward and encourage those who send you business. You are getting paid, why not to share the income with the people who help you? So, if you're looking for an economical, powerful way to increase your business, the easiest way is referrals. Remember the steps: earn the referral, ask for the referral and reward those who refer you.
