Building your business with referrals Rhancha trick - nsp

7 Steps to referral success - why Referrals are _____ % of my business and I currently get _____ referrals per year from my top 100 clients. Current referral revenue = $___________________ Goal referral revenue = $ ____________________ Do you have a system and the right mindset to close the gap?

1. find out what your clients really think (via phone, not email or paper based) Independent feedback = value proposition, brand & your best marketing collateral The process will help you “earn the right” for referrals Selling services (intangible) – need evidence of your service quality to counteract fears

2. plant “referrability seeds” Foreshadow the conversation – website, collateral, initial meetings Share your vision of a referrals based business; “I’m building a business based on providing so much value to my clients, they often want to tell others about me.” “please don’t keep me a secret.” Trust marks – associations, endorsements, accreditations

3. Acknowledge your client’s fears Make it all about them – “I love making my clients look good by doing a great job with the contacts they refer to me.” Explain your referral process and the outcomes of any introductions – build their confidence in the process A successful outcome with a referred client strengthens the existing client relationship and should lead to more referrals Is an incentive enough to overcome referral fears?

4. Fish for compliments & brainstorm Get clients to articulate your value Treat your referral request with importance Be confident & expect to get referrals If you met your clients through referrals, remind them of that Get permission to brainstorm

5. Get your head in the game Statistics show that 80% of customers would refer you, only 20% of clients have the ‘referral conversation” with their associate Overcoming your own objections: “I often don’t feel I’ve served my clients enough yet to ask” – listen to their comments “I don’t want my clients to think I’m not successful” – if referrals are based on the value you have brought, the easier it will be to ask for referrals “I will look too aggressive and hurt the relationship” – ask from a client centered point of view

6. Pick your moment The opportunities to become more referable – do you track this in your client contact process? Provide value – memorable experience and strong client relationships

7. Choose wisely PROSPECT FOR REFERRALS USING THE LOYALTY LADDER

YOU HAVE CUSTOMERS BUT HOW DO YOU KEEP THEM COMING BACK FOR MORE? 62% of the reasons customers fail to continue to do business with you is a Perceived indifference

Even if they know, like and trust you, they will forget you if you don’t keep in touch Remember, it costs a lot more to acquire a new customer, than it does to retain an existing one (80/20 rule)

What are you doing to be remembered by your customers, prospects and referral partners?

Customer touch points Monthly newsletter Send 4 stay-in-touch appreciation cards a year (1 every 3 months) to all your clients – handwritten cards or use send out cards services Email blasts with product specials Phone calls to remind them to re-order and check in on how they are doing Send them a birthday card Invite them to events you are having or if you are doing a trade show; give them free tickets Hold a customer appreciation night twice a year and invite your customers

Why thank you notes are crucial…

25 ways to get referrals

Tell clients not to keep you a secret. Tell prospects and clients “I’m glad that you see the value in the work that we do. You know, I am never too busy to see if I can help your friends and family through my work.  I hope you won’t keep me a secret.” Give your clients your business cards to carry as a benefit to them – write their account number on your card and it becomes an important document.