My friend Joanne Black, a leading authority on referral selling, says, “Just because clients are willing to refer you doesn’t mean they will.” Join us, Wednesday, September 9, 2015, 12:00 noon PST, for a complimentary interactive virtual training to show you how to “Pack Your Pipeline with Hot Prospects.” Register and receive a replay link, even if you are unable to attend. Enjoy these insights from Joanne:
Don’t Confuse Recommendations with Referral Leads
by Joanne Black
“Turn 70 percent of your prospects into customers.” This got my attention, not just because it sounded too easy, but because I wasn’t sure where this statistic came from or how accurate it was. Certainly referral leads are top-notch, but they don’t just appear.
I dug a little deeper and learned this statistic is based on the Net Promoter Score (NPS) – a tool many companies use to survey clients about their willingness to recommend these businesses to others. NPS measures how well our customers like us and our products. It can make us feel good about the work we’re doing…or not, depending on the results. A high NPS is certainly a good start, but without follow-up, it amounts to nothing but bragging rights.
If You Don’t Ask, You Won’t Get
The misconception is that customers who score us highly will automatically send us referral leads. After all, they said they’d be willing to recommend us. But willing and doing are entirely different things.
Of course, we’ll sometimes hear from a prospect who was recommended, but referrals don’t just happen, at least not at scale. Why? Because we are not top of mind for our customers. They have their own jobs to do and lives to lead. Just because they think highly of us doesn’t mean they think of us often.
Reality check: a recommendation is just that. A client is willing to recommend us, but unless we ask, they probably never will. It’s our job as sales reps to turn recommendations into referral leads.
If your clients are willing to refer your company, you’re primed for sales success. But unless you actually follow up and ask for referrals, you’re wasting those opportunities—and the money you’re spending on NPS.
Your current clients are your best source of new business, but they’re not mind readers. They don’t automatically know you want more clients or that you would appreciate introductions to their connections. Don’t rely on recommendations. Enroll your current clients as active referral sources and keep your pipeline full of hot leads.
Join Joanne and me Wednesday, September 9, 12:00 noon PST / 3:00 pm EST. I will interview her on you can Pack Your Pipeline With Hot Prospects. http://app.webinarjam.net/register/1772/04839a9cae
Turn up the heat on your prospecting and attract your best and most profitable clients. Convert every new client into a source of even more business. Whether you make cold calls now or not, leverage the power of your referral network and hit your sales numbers without hitting the phones.
You will learn to:
- Get welcomed to the C-Suite on your first call.
- Convert more than 50 percent of your prospects to clients.
- Ace-out your competition so they won’t know what hit them.
- Slash your marketing budget to zero (almost).
- Reduce your prospecting time by more than 20 percent.
Joanne Black is America’s leading authority on referral selling and the author of No More Cold Calling.
Register for this complimentary virtual training and receive a replay link even if you are unable to attend: http://app.webinarjam.net/register/1772/04839a9cae
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