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Digg it UP - Sales Leads - All Referrals are NOT Created Equal!
There has been a death in our society that has yet to be noticed; the death of common sense. I discovered that common sense is kind of hard to define because everyone seems to have a different idea of what it is and what isn’t. Here’s my take on it: Common sense is native good judgment derived from experience based on the “reasonable person standard”. What would the average, reasonable person do in a situation?Common sense is a funny thing. We admire people who have a strategic mind, a flair for style, or vast creativity. We rarely admire someone for his or her common sense. It’s the unsung hero of attributes. We seem to assume that everyone has it and is actively
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 invo
The basis of the birth of secret shopping is the employer’s need to have the right perspective of the performance of its employees.When it comes to optimum running business, there are a few aspects you need to settle, in order to have the correct image. These aspects include the sales and promoter’s activity, the level of the business, managers’ way of dealing with customer related issues.Secret shopping or mystery shopping, as it is sometimes called, is about evaluating the performance of your workers. It can enable you, as a business owner, to have an objective perspective on the daily work and activities of your employees, services, on how your company is
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 invol
Procurement can be defined as the purchase of merchandise or services at the optimum possible total cost in the correct amount and quality. These good and services are also purchased at the correct time and location for the express gain or use of government, company, business, or individuals by signing a contract.The process of acquisition of goods or services required as raw material (direct procurement) or for operational purposes (indirect procurement) for a company or a person can be called procurement. The procurement process not only involves the purchasing of commodities but also quality and quantity checks. Usually, suppliers are listed and pre-determined b
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 invo
In my practice, I meet with many entrepreneurs. Listening to their stories is a poignant reminder about just how difficult it can be to find the investment money they need to grow their businesses. Many often ask me about the best ways to raise money for their businesses. Believe it or not, often times my answer begins with a story about my dating life. It goes something like this:Although I was not blessed with Brad Pitt’s good looks or the best conversation skills, thankfully, I did catch the height gene and measure in at about 6 feet, 2 inches. Now, by Midwest standards, this is no significant thing, but in New York City, for whatever reason, it was one way
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 invo
You have this burning desire you want to be on your own. The temptation is so great that you want to quit your job. Enough is enough. You're sick of working for other people for a ridiculous pay.To be your own boss means controlling your own destiny, having your own time and no bosses to report to. Basically, you can do whatever you want.But before you really jump into a new territory of being on your own, you have to make sure that you're ready and well equipped.Below is the checklist that can help you to ensure that you're ready to be on your own.1. Have a crystal clear plan.Do you have a clear idea as to what you want to do next? You
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 invo
I got a phone call from a magazine writer who was working on a story. Turns out that Stanford University put out a research study looking at what barriers exist for women in the corporate world. They talked to something like 1,000 of their MBA grads - not new grads, but people who went through Stanford over many years - and asked them what was keeping women out of the top ranks of corporations. Here's what they reported:There is no glass ceiling. Women themselves are opting out of the top jobs, for lifestyle reasons or because they don't want the pressure.So, asked the writer, "What do you think about that?"Have you ever heard a person sputter on the
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.
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
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