While out adventuring the past few weeks I’ve had several conversations about the fastest and easiest way to grow a business. You don’t have to be Einstein to guess what the answer is…YUP! Referrals!
Yet most people aren’t asking for them. Why? The common responses are:
- I’m uncomfortable asking
- I don’t know how to ask
- I don’t even think about asking
I understand all of those responses. However, I love coming up with solutions so let’s dig in and talk about how to make it easy to get referrals.
First let’s look at statistics. Did you know that 91% of all satisfied clients say they’d give a referral, but only 29% do!?! Did you know a referral converts at a rate of 6-7x greater than other lead!?! Just looking at those two statistics, can you see how powerful referrals are!
Want a quick and easy way to ask for referrals? Create a system to do it! Systems grow and organize your business. I strongly believe they make a HUGE difference. Think of a referral system as an Oreo cookie. One side of the cookie is your business, the other side is your referral partner and the yummy filling in the middle is what sticks you two together. Your system should include:
- Who you are going to ask
- When you are going to ask
- How are you going to ask
- How you are going to reward the referrer
- What incentive are you going to give the referee to get them to buy from you
- And the three “T’s”. Tracking, testing and tweaking to maximize your results
Take out a pen and paper and write down the answers to these questions. It will just take a couple minutes and I’ll help you.
- Who: This should be your existing clients, power partners and people in your networking groups. Jot down the names of 5-10 people now to get you started.
- When: Ask them at your “sweet spot”. You know that spot where they’ve placed an order, but they haven’t received it yet, are VERY excited about it, but not busy with it yet. This is when you ask for the referral. For my business, the sweet spot is when they’ve ordered the item for their marketing event, but they haven’t received it yet so they aren’t busy getting everything ready for their event.
- How are you going to ask? The easiest and most memorable way that I’ve found is to mail a “referral piece” out to them. Whether that’s a hand written card thanking them for their order and then asking for the referral or doing a “referral kit”. Which is a more memorable and engaging way to ask for referrals and continues to remind them to do so because you’ve included a branded promotional product like a business card holder, etc. Every time they use it they’ll think of you!
- How are you going to reward them? People like to receive rewards so do it! If they refer 3 people what will you give them? A mobile charger for their smart phone branded with your info. would be much appreciated and a great way to stay in front of them.
- What incentive are you giving the referee to start using you? A discount off their first order? A free consultation? You decide what you think will move them!
- The three “T’s” are very important! Track your results, test two parts against each other to see which one pulls better and then tweak what’s working and what’s not. REPEAT!
It’s that easy! So get out there and start getting referrals!