Introductions

5 Things You Must Know About Referrals

Leads are the lifeblood of any business. There are many ways to get leads for your business, but the best way is via referrals.

When you know how to get referrals, your business has a constant flow of leads available for you to nurture.

Referrals are valuable for several reasons. For one, they’re already warm leads. They’re warm because they likely already like you. Someone who you know in common provided the connection. This makes your job far easier.

Why Are Referrals Important?

One of the most important things in a business relationship is for the other person to know, like, and trust you. Referrals are great for your business because the person referred is much more likely to feel as though they know, like, and trust you very quickly.

So, how do you get that referral introduction made in the first place? Bill Cates, creator of the Perpetual Referral System, is the author of a book named Beyond Referrals, in which he gives tips on the best way to easily grow your business, including ways to get and nurture referrals.

This excerpt from Beyond Referrals shows you how exactly to not only get the referral, but make sure that the introduction is done in a way that will guarantee a great start to the business relationship.

5 Tips for Better Referral Introductions from Bill Cates

  1. Learn as much as you can about your new prospect. Ask the powerful questions, “What’s going on in their life that’s important to them at this time?” Craft your approach to your new prospect with this in mind.
  2. Let your client know that you think their friend would probably prefer to hear from them before they hear from you. Say something like, “My guess is that George would prefer to hear from you before he hears from me. Let’s talk about how you introduce me to George so he feels comfortable.”
  3. Create in-person introductions whenever you can. A typical in-person introduction is where you take your client and their friend to lunch. Don’t talk business, unless it comes up from their side. Avoid giving any advice until you learn more about their situation, goals, etc.
  4. Discuss what the client is likely to say to their friend and how their friend is likely to react (receive the referral). Say something like, “What do you think you need to say to George to get him to take my call? And how do you think he’ll respond to this introduction?” This helps your client make the best possible introduction.
  5. Don’t leave the meeting without knowing who will do what by when. Set a time frame for the introduction. Say something like, “When do you think you’ll have a chance to leave a voice mail for George so I know when to follow up?” If the client wants to have a real conversation with George – not just leave a voice mail or send an email – then say, “When do you think you’ll be able to speak to George about this so I know when to follow up?”

Referrals are the best way to work smarter, not harder. Following these five steps will help turn your new referral relationship into a successful business relationship…. One that generates more referrals and business for years to come.

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