"When selling services (or the service to support your product) you must provide evidence that you will deliver on your promises. This is where the referral comes in. When a prospecting client meets you through a referral, the evidence is already high. It’s as if the referral source has testified on your behalf."
- Get More Referrals Now!, Introduction
"Great movies give us foreshadowing. So do great salespeople."- Get More Referrals Now!, Chapter 9
Cates gives us a few reasons why we need to plant the referral seed, but the most important one in my opinion is to foreshadow your request. If we let our clients know that we may ask them in the future for a referral, it makes it easier for us to ask and easier for them to do so. By making it clear from the beginning that you build your business on a referral system, the client knows that service and high quality performance is very important to you.
Cates recommends using a couple of techniques:
Some other ways to plant the seed:
"You must ask for referrals at the right time, and not a minute before."- Get More Referrals Now!, Chapter 10
You can ask for a referral any time that you have served them. Notice it is served and not sold.
Delivering value is what counts, but they must recognize that value – sometimes they will come right out and tell you and sometimes you will have to ask. Cates has a formula for knowing when to ask – when value has been given and value has been recognized. Pay attention to the ways in which they have seen the value in what you do. Listen for “Thank you for fixing the problem”, “I didn’t know that”, “Why didn’t my last guy tell me that”, and “I should have done this 20 years ago”. When you hear these things, what do you do? Do you just say, “You’re welcome”?
The right thing to do is to say, “I’m glad that you see the value in the work that we do. You know, I am never too busy to see if I can help your friends and family through my work. I hope you won’t keep me a secret.”
The three keys to asking a prospect for referrals:
"Our assumptions drive our behaviour. Trouble is, most of the time our assumptions are wrong."- Get More Referrals Now!, Chapter 17
As my sales coach tells me constantly, “head trash” is one of the biggest challenges that sales people face. Asking for referrals is no different. Cates gives us a few reasons why we are afraid to ask, but the mistaken assumption is a home run.
Here is a short list of the most common mistaken assumptions that is keeping you from maximizing potential:
Most people will be happy to help you if you have exceeded expectations. Just give them good value and ask. Don’t let the fear hold you back.
In today’s world with social media, especially Linkedin, there is no excuse for not using referrals. Cates has a great book that was an easy read and full of useful techniques and tips. Stop cold calling and ask for referrals.
Bill Cates CSP, CPAE, has revolutionized the way financial professionals generate an abundance of high-quality referrals. His first two books, “Unlimited Referrals” and “Get More Referrals Now” (McGraw-Hill) has established Bill as the financial services industry’s foremost expert on building a thriving referral-based business. Bills newest book, “Don’t Keep Me a Secret”, is receiving rave reviews. Bill is the president of Referral Coach International and the creator of Bill Cates’ Referral Advantage™ Program.