4 myths that might be
slowing you down
Securing referrals from clients and others is a key strategy for building your client base and filling in your sales pipeline. But getting those referrals can be difficult.
The following are four myths about referral marketing that might be slowing
Asking for referrals is
the easiest way to get
We’ve heard over and over
again that asking for referrals is the most direct way
of letting clients know that you want them. However,
many find it hard to actually ask for referrals. This
reluctance makes asking for referrals anything but
easy — and for good reason.
Asking for referrals may imply that you are in a
negative position and need more business; or that
you are trying to grow a large (and not personal) firm.
Moreover, when aggressively asking for referrals, it
can be all about you, your business, and your sales —
not the other person. In fact, asking for referrals may
not be a natural extension of the relationship you’ve
developed with the client. That’s why we sometimes
“forget” to ask even when we’ve been told that asking
could help us increase referrals.
In the financial services industry, some of the top
producers receive 100 or more referrals each year
without direct solicitation. How do they do it? They
say it’s the relationship they have with their clients.
How would you rate your client relationships?
A periodic proactive call, review meeting or handwritten note can change the way a client feels about
you and your organization. It may sound simple,
but consistent unexpected acts may give clients
just what they need to comfortably, and without
prompting, tell others about you.
My clients tell me they
“don’t know anyone”
who needs my services
Have you ever heard a client
say, “I don’t know anyone” when you made mention of
referring? Do you think that’s true — that they actually
don’t know anyone who may benefit from your ser-
vices? Chances are they know lots of people — they’re
just not motivated to give you names right now.
one of the most successful strategies I’ve seen
for giving clients a reason to immediately refer is an
event called, “Don’t Miss the Boat.” This is similar to
a client appreciation event, however the only people
invited are clients that have referred others to your
firm. You tell your clients, “Mr. Client, don’t miss the
boat! We’re doing this big event on October 19th on the
Detroit Star, that dinner boat on the Detroit River. It’s go-
ing to be a gala event with music and dinner and dancing.
You and you’re wife can get all dressed up! But, don’t miss
the boat, because the only people we’re inviting are those
that have been so kind to introduce others to us.”
This event gives clients an immediate reason to
think of someone. Yes, it may be a little gimmicky,
but we’ve never seen this strategy fail and it has con-
sistently produced referrals of 40 or more per event!
by MAribEtH KuzMEsKi