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Asking for Referrals - The 3 Three Golden RulesSometimes we just make it difficult for ourselves I passed our weekend market the other day and saw a van with the words “Small enough to care but big enough to cope…95% of all our business is from customer referrals” What a great banner. Most small businesses and that includes financial advisers who,
after all, run mini businesses within larger firms, get most of
their new business from referrals. However research carried out with hundreds of advisers throughout the country shows that you get more referrals when you have a systematic process to ask for them. And you have to be proactive here. Simply waiting for clients to make those referrals to you often means you have to have lots of patience. So how can we ask for referrals more effectively? Three golden rules:
Don’t ask closed questionsA recipe for failure I’m afraid. Apologetically we ask “Do you now anyone that might benefit from my services?” Typically the client starts scratching their head and comes out with a “no but I’ll think about it when I get home” Better provide some context o justify you asking: “My business is based around referrals. If you like my service might you be in a position to refer me to one or more of your friends.” It doesn’t always bring us success. Be More SpecificYou need to help your client think of people that they know and help them to be more specific. Help them to drill down in their minds specific people they know and feel would benefit from your services. “I appreciated your business, and I look forward to doing business with you again. I also would like to help any of your friends or acquaintances who have mortgages who might also appreciate savings some money.” Or “Working with you was a pleasure, and it’s important to me to make sure that you have been happy with my service. I have built my business on customer satisfaction. How would you rate my service to you? If you have friends, relatives, or associates who need this service, would you feel comfortable referring me? Do you know of anyone I should be talking to right now?” Or “Your friends are looking for the best service for their mortgage needs. I hope you will help them find it by recommending me. Would you please do two things? Tell your friends about me. And when one of your friends needs my service, pick up the phone and tell me about them. Would you do that for me?” Or this one I like “If you were to substitute yourself as the purchaser of this mortgage who would that person be?” Or be even more specific “I am glad you are happy with the service I’ve provided here. By
the way may I ask about your rugby that you play at club level? Can
you think of one person in your team who might be interested in
purchasing what you have just purchased?” Try it Earlier On – Come CleanJust like handling objections which should be dealt with earlier
on in the sales process, asking for referrals is best mentioned
early too. Plant the seed now to your advantage. "Sure." "Well, what I enjoy most about what I do and where my time is best served is working with my clients. I want to spend as much time as possible serving my clients and exceeding your expectations. In order for me to spend more time with my clients and less time marketing or prospecting for new business I really need the help of my satisfied clients. Please understand, I'm certainly not asking for any referrals from you now. Personally, I feel that would be incredibly presumptuous to ask you to introduce me to other potential clients before you even have a chance to truly utilize and benefit from my services. After all, we just started working together! However, in a couple of months or even weeks, when you are clearly realizing the benefits of my services and have gotten even more value than you expected, would you be comfortable sharing the results you have experienced with others and introduce me to those people who might also benefit from my services?" "Sure, I don't see why not.” Notice the hypnotic negative message “don’t think for a moment I’m asking you to refer anyone now…” Clever stuff this hypnotic selling and it’s also really successful if you plant the seed of referrals early on and then get specific with your question at the end. Try it…it works Undoubtedly you’re already acting like a chameleon, the best
sales people do. But now you have a simple yet powerful tool to be
able to colour them in and immediately borrow some behaviours to
build that rapport and move the sale onto a successful conclusion.
Paul is an international sales speaker, sales trainer, author and coach based in the UK.
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He specialises in rapport selling and rapport
coaching and can ignite his audiences large or small.