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It is no secret that your best source of new business comes from referrals; and they are often among the highest quality leads you will receive with typically a significantly lower cost of acquisition. While I am likely telling you something you already know, below are some points to help you receive the high-quality introductions you are looking for to increase sales.
Stop calling them referrals. What you really want is an introduction. You want a very warm introduction so that your call or meeting is accepted by the prospect and they are open to having a conversation with you.
Be specific. In order to ask for an introduction, you have to be very specific in what you are looking for. Just saying, “Can I you give me a referral” likely won’t produce the results you want. However, saying, “I see that you and Joe Blow are connected on LinkedIn. If you know them well, I don’t suppose you would be willing to give us an introduction?” This is a much more powerful approach. Also let people know that the specifics of the type of individual with whom you want to be connected. For example, “For me, a high-quality introduction is a CEO of a privately held company who is looking to work on their business – not in it – so that they can increase profitability, improve their leadership skills and be held accountable allowing them the freedom to enjoy the life that they deserve. I don’t suppose you happen to know anyone who may fit that description?”
People want to help you. If you are afraid to ask, then you will get what you asked for – nothing. One of my TAB members was afraid to ask her TAB board members for introductions. I nudged (okay maybe more than a nudge) her into doing it and surprise-surprise. Everyone wanted to help her once they understood what she was looking for. Fear won’t get you anywhere. And thinking that others can’t or won’t help you also doesn’t help. People genuinely want to help.
Measure, measure and keep on measuring. You should be asking for at least one introduction per day or average five per week. Keep track of introductions asked for, from whom and the date. When the introductions roll in track that too. You want to know who your best sources are for introductions. Add the introductions to your CRM and of course track when you close them, so you know your introduction-to-new-business conversion rate. It will likely be a high number.
Give to get! Another key factor in your ability to receive quality introductions is your ability to give back. People don’t like takers and typically don’t want to help them. However, if you go out of your way to make high quality introductions of your own to others, that will only bode well for you. Become a major connector in your community. It feels good and oh yeah, you will get back.
In short, put a plan in place to allows you to measure the introductions you provide to others (make sure they are high quality) and be very specific in the activities you need to do in order to receive the proper introductions. Remember, be specific and be intentional. You don’t want just any referral; you want a very warm introduction where the prospect is teed up to have a quality conversation with you.
By Blair Koch
