REFERRALS - A KEY TO SUCCESS
And that’s fine. I don’t pull any punches here. Right now is the time for honesty.
And if you feel frustrated after reading it then it’s likely you are the one who needs to hear it the most.
It is very clear that we all LOVE referrals. Nothing controversial there.
Because referrals, on average, convert 30% better and have a 25% higher lifetime value than leads generated from other marketing channels.
And over the years I’ve found that there are SEVEN reasons that you are likely not getting more referrals...
*One: You figured, if you do good work, people will just send you referrals.* I probably don’t have to tell you this but this is wrong. Even if you knock it out of the park for your clients there is no guarantee that they will refer you.
That’s because they are focused on their business. Not yours. There’s a good chance that they would be happy to send referrals your way. They just never think about it.
Simply hoping they like you enough to send you business is not a good plan. It’s not a plan at all.
Without consistently staying in front of these people and asking for referrals you’ll never get them consistently.
*Here’s the root problem ...***Two: You think people care about your business as much as you do** Again, your clients, peers, and connections care about themselves first and foremost.
This isn’t selfish either.
They absolutely should care about themselves more.
Every entrepreneur has their own set of responsibilities that can typically only be fulfilled when their business is succeeding.
That’s why you have to build a “referral network,” and be clear that you are hopeful that a lot of business will be changing hands.
There are tons of other entrepreneurs who work with the same people that you do but solve a different problem. Many of them would love to have a trusted resource to refer their clients and contacts to.
So when you approach someone about being in your referral network be sure to talk about this as a mutually beneficial referral system where you both win big.
Who can say no to that?
So what’s holding you back?
*Three: You haven’t made business relationships a priority** Nobody is going to send you a referral if they don’t know you.
People like to refer other people to their friends. Or at the very least, someone they know enough to vouch for them.
Nothing accelerates a purchase decision faster than a word-of-mouth endorsement from a peer whose only agenda is to help.
But if you are not regularly communicating with other businesses who you’d like to refer you business… they won’t.
Research firm Forrester did a study showing that 80% of all B2C and B2B purchases involved some form of word-of-mouth recommendation during the purchase cycle.
So in a sense, if you don't have a referral strategy you are instantly out of the running for 80% of businesses.
Now, you may be thinking, “But I get referrals without a formal referral programme, what’s different?”
And, sure you may get a referral here and there, but that’s just good fortune and not a real system, and certainly not scalable.
You have to be proactive… you have to build a network of partners who send referrals to you consistently, and nurture that network the right way.
We’ll show you exactly how to get started building relationships pretty much immediately on my upcoming masterclass on A Practical 3-Step System For Building A Massive Referral Network To Send You Referrals & Clients Every Month.
*So why have you been neglecting this?***Four: You’re juggling too many things at once** You probably feel like you don’t have enough time... like you are throwing together marketing plans and hoping to get something to stick. I know you have a ton of responsibilities.
*Responsibilities to your clients.**Responsibilities to your team members.
Responsibilities to your family… your friends… to yourself.
You only have so much time and mental bandwidth. The thought of adding more to your plate is borderline nauseating.
In the past, you’d be right, this would take a ton of time. But now, there are ways to automate huge chunks of the process. Cutting down implementation time significantly.
When I started my first business in 2010 building my rolodex of business contacts was my main priority. But I didn't have the tools that are available now. The technology didn't even exist. And online communication was not near as mainstream as it is today.
So I had to do it the hard way, and figure it out from scratch.
Which wasn’t so bad, because look…
I ended up growing an Inc 500 company and having a team of over 50 employees, writing a couple bestselling books, one on the Wall Street Journal bestseller list, and creating a business and a life that has just totally surpassed any of my wildest dreams from when I was starting.
So if you think that this is going to take up too much time you’d be wrong. Right now it’s easier than ever if you know what to do.
*The biggest culprit?***Five: Your follow-up game is weak** If you’re not regularly communicating with your referral network or other business professionals, they’re not going to send you anything.
I call this “Referral Amnesia.” It’s nothing personal. They just forget. Because it’s not their responsibility to remember about you. It’s your job to stay in front of them.
So once you build the initial relationship you need to follow up every few weeks or so to check-in, share great content, talk about something new you have going on, etc. to stay at the forefront of their mind.
In this week’s workshop, I’ll show you how you can automate your personal follow-up to every single person in your network regularly AND tell you what to say so when a referral opportunity pops up they think of you.
*Six: Your brand isn’t memorable (or visible)** Not because you don’t do great work, but because you haven’t given anyone who hasn’t worked with you directly a way of knowing that you’re an expert. The BEST way to do this is to share out great content in your emails and social media pages.
If you are in your referral partner’s Facebook or Linkedin feeds every day they are much more likely to remember you AND view you as a top-tier professional in your market.
I know what you’re thinking… “I don’t have time for that!” Again, that’s false. You may disagree but I promise you it is.
Your posts don’t have to be 1500 word manifestos. They just need to be relevant content that your referral partners and your prospects care about.
This shows them that you have a pulse on the industry and are an expert in the space.
*And finally...***Seven: You’re scared** Right now, with everything going on in the world, people are scared. Whether that be about things that are not in your control like the economy or politics…
...or if you’re just scared of putting yourself out there and building a referral network…
...the one thing you CANNOT do is freeze up and do nothing. Doing NOTHING is the only surefire way to fail right now.
To know more about REFERRALS - A KEY TO SUCCESS, kindly contact Jayant Harde on 9373284136 or +91 7122282029. You can also visit our website: www.jayantharde.com
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