Thank you for listening to The Champion Forum Podcast with Jeff Hancher! A great sales process means nothing without new clients to pitch to! Often, your current clients are the ones who can connect you to your next clients. So why do so few salespeople consistently ask for and get referrals? Today, we are discussing why getting referrals in sales is so critical to success and the best approaches to getting them.
Why do you need to prioritize referrals?
Sales referrals help bridge the trust gap between you and the referred prospect. Without a referral, you're a stranger. Referrals leverage the goodwill between the referred client and the referring person. A referred prospect already has confidence in you, your company, or your product and will generally move through the purchase process faster than cold opportunities.
How to get more referrals:
1. Overcome your fear of asking.
You’ll never lose business by asking for an introduction, but you never know how much business you’ll lose by not asking at all. Remind yourself of the value and just ask! The more you see this strategy work, the more comfortable you will feel using it.
2. Ask them for help!
People love to help other people, especially when they already know and like them. When asking for referrals, open by acknowledging that you need help. You will set yourself up for a productive chat and leave the other person feeling good about helping you.
Example: "Mr. Customer, I make a living off of new customers like yourself, and I was wondering if I could get your help with something. Mr. Customer, can you think of 5 people who can benefit from the program we have discussed today?"
3. Handle the objection
You are almost guaranteed to get an objection. They will likely say, let me think about it and get back to you. Politely explain that you understand that they are busy, and in your experience, people tend to forget. If they cannot give you referrals right away, offer to set up a brief meeting to get information or other formal way to follow up.
Application Activity:
This strategy can also be helpful when trying to increase your network. The next time you meet someone new, try asking who they know that you should also know. Maybe you have a skill that would help them or they are an expert in a topic you want to learn more about. You can make a lot of connections by just asking for an introduction! Try it the next time you meet with someone new.