How much time are you spending building your referral muscles?

From time to time, I meet people who are frustrated with the lack of referrals they receive from their networking. They are tired of going to so many meetings and not being able to generate any referrals. After answering one or two searching questions, they quickly realise that they haven’t built their referral muscles to adequate levels.

Building referral muscles is like working out in a gym. The only way to get great results is to consistently push yourself to the limits of your fitness. In the referral game, ignorance is not bliss.

To make yourself referral fit, you must constantly be seeking ways of improving your referrability – on a daily basis. Once a week just doesn’t cut it.

Here’s two ways you can build your referral muscles more effectively:

• Always be seeking ways of finding referrals for your referral partners (contacts, customers, etc). Thomas Power of Ecademy says that do not chase the referral. If you are giving quality referrals, then people will feel obliged to return the privilege.
  
• There are different qualities of referrals. The first type is a target customer for your referral partner. On some occasions, an even better referral is to give referrals for centres of influence. For example, a great centre of influence for Will-Writers are Financial Advisors. Financial Advisors frequently subcontract the estate planning their clients desire to Will-Writers. Therefore, it is better for many will-writers to get referrals for Financial Advisors rather than just one-off clients.

Want to find out more about how you can boost your business referrals, then why not book yourself for the Referral Sales Summit on Tuesday 27th June 2006 in Birmingham, UK?

Referral Explosion: The Ultimate Prospecting System

Have you ever:

Had the frustration of finding quality referrals from your network?

Wondered if and when and where you could find prospective customers who will buy?

Wanted to eliminate time wastage with badly qualified prospects and increase your time with customers who is willing and able to invest with you?

If 'yes' is the answer to any or all of the above, then you will want to come along to the Referral Sales Summit on Tuesday 27th June at the Apollo Hotel, Edgbaston, Birmingham. For a quick booking please click here.

In this jam-packed event, you will discover the 5-Step Referral Explosion Method that has helped my clients to accelerate their customer acquisition exponentially.

For example, two months ago, I sat down with one of my clients, a management consultant, to use the Referral Explosion system for his business. In the space of two hours, we generated 22 highly qualified customers for him and 18 for myself that's a massive 40 referrals.

Subsequently, the average conversion rate for these prospects to customers has been close to 97%. How many other systems do you know that are as effective as generating qualified prospects as this? Ready to book now?

Three weeks ago, another one of customers, a will-writer, only had 30 minutes to spare. He generated 6 appointments with spheres of influence and ended up with 10 new customers in a matter of days. If you want to hear more, then please feel free to give me a call on 0121 249 0697 or 07813 672 342.

To reserve you place for a customer prospecting extravaganza right now, click here.

Your investment is only £97 plus VAT. There are concessions for members of BRE, BNI, BOB (includes) Ecademy and the GiS Sales Club. Check the website out for details.

Time: 9am for 9.30 am start
Date: Tuesday 27th June 2006
Venue: Apollo Hotel, Hagley Road, Edgbaston, Birmingham, B16 9RA

Book now to guarantee your place. There are only a few places left.

I look forward to seeing you.

Have an Amazing day!

'The Persuader'

The Power of Saying 'Thank You' to you Referral Partner

How times have changed! Growing up in Birmingham in the seventies, I used to hear certain words and phrases that used to be used as common courtesy. A man opening a door for a lady was accepted as gentlemanly behaviour. Yet today, everyone is so politically correct that many of these pleasantries have be thrown out the window.

In February 2005, I was thrilled to be interviewed on BBC Radio 5 Live on the subject of wedding speeches. I couldn’t believe my luck. I’ve always wanted to be interviewed on Radio 5.

Two or three days after the interview, I sent a ‘Thank you’ card to Jonathan, the producer and Phil Williams, the presenter. On receiving the card, Jonathan phoned me up to thank me for the card. To me surprise, he told me that that out of all the interviews they’d done over the years, no-one ever sent them a ‘thank you’ card. I was in fits of laughter until I realised he was deadly serious.

Jonathan thanked me once again and promised me that I’d be invited back again. Subsequently, I was back on Radio 5 after the ‘Live 8’ concert to talk about how to handle stage fright after David Beckham lost his nerves introducing one of the big rock bands. I was interviewed again two days before Christmas Day 2005 about how to be an inspiring speaker like Winston Churchill and Martin Luther King.

What a life! I get to thank people and get to realise my dreams and passions. This week, think about how often you are thanking your valued contacts and customers. By taking just this simple step, you stand out as being authentic and real.

Want to find out more about how you can boost your business referrals, then why not book yourself for the Referral Sales Summit on Tuesday 27th June 2006 in Birmingham, UK?

What's the value you're putting on your relationships compared to the business transaction?

Today’s blog is of a sombre nature.

Earlier today, I received a call from the daughter of a dear friend and mentor of mine. My friend had been involved in a car accident recently and was expected to recover from his physical trauma over the next 6 weeks. Unfortunately in the last day or two, he had taken a turn for the worse and has been taken into the intensive care unit of his local hospital. Currently, we are all praying for his recovery.

Although, we became friends through our respective businesses, as veteran networkers, both of us understood the value of our relationship and have subsequently forged an even stronger friendship. Today’s event has given me a timely reminder of the importance of relationships. I would like to share some of my thoughts with you.

How much value are you putting on your relationships compared to your business transactions?

To create a long-term win for both you and your contact, it is your relationship that will win the day. Your contact will remember you in the long run for who you are rather than what you did.

Business transactions will give you only ephemeral pleasure; valued relationships will bring you eternal joy.

This week think about who you would like to build better relationships with.

• How do you wish to show your contacts how much you value them?
• How will they know that you will always be there for them?
• What creative ways can you find to stay in touch with people you value?
  

Want to find out more about how you can boost your business referrals, then why not book yourself for the Referral Sales Summit on Tuesday 27th June 2006 in Birmingham, UK?

Are you Fit Enough to Receive Referrals?

How many times have you spoken with someone at a networking event but you left not understanding what they did in their business or how you could help them?

Recently, I received an online message from an Ecademy contact who was asking for my help. So I thought. He explained that his business idea to me. He was looking for motivated people to help in this great dream he had. I praised him for his enthusiasm. Then I asked what was in it for these motivated people to get involved in his project. In other words, how would they benefit from working with him?

Unfortunately, this particular person was unable to answer this simple question. In fact, he even found it offensive that I should ask such a searching question! Tell me if I am wrong, but before I buy into someone else’s dream and become a stakeholder, I want to know how I can create value for this person AND how I can gain value too.

He doesn’t get it. Building a referral business is about knowing and understanding how you can add value to someone’s business. This involves asking questions and finding out more.

Think about you approach to business. Are you fit enough to receive referrals?

It is so much easier to generate referrals if you know how you can add value to someone’s life or business. A few months ago a member of a local BRE (Business Referral Exchange) chapter asked for a referral to get introduced to Richard Branson. She actually got four referrals for people who can knew him well. However, she never got any introductions because she was unable to give Branson a compelling enough reason to see her. There was nothing in it for him.

Here’s the tip of the day for you. Ask yourself:

• What compelling reason does someone have to meet me?
• What’s in it for them?
• How can I communicate this verbally in 30 seconds or less?

Building a referral-centred business through networking is about creating value for others. It is not about getting personal therapy or being pampered no matter how mediocre your business. If you want to feel loved , get a dog!

Want to find out more about how you can boost your business referrals, then why not book yourself for the Referral Sales Summit on Tuesday 27th June 2006 in Birmingham, UK?

How Do You Reward Your Contacts for Referrals They Give You?

This is the million-dollar question.

How comfortable are you about rewarding customers and contacts that give you referrals? If you do reward them, is it in monetary term or something more tangible?

In my travels, I’ve found that formal networking groups, such as BNI and BRE tend to pass referrals amongst themselves with the attitude of givers gain. In other words, you pass referrals to members with the hope that they would reciprocate and give you referrals. This system works for many thousands of business people every day across the globe. So if this works for you, keep at it.

On the other hand, some businesses are so reliant on good quality referrals for high-value products that they are happy to give an introducer’s fee. For example, property companies selling new-builds earn a high enough commission from each sale that they are willing to pay good commission. Financial advisors also offer monetary incentives to introducers.

If you are considering offering financial incentives for referrals, make sure the value of the sale is sufficient for you to warrant such a reward. Giving your profit margins away just to get the sale defeats the objective of being in business.

You may also want to establish if this kind of practice is ethically acceptable in your industry. For example, you would be crossing the legal boundaries if you offered financial incentives to doctors in the UK for giving you referrals. You’d have to find a more creative way to motivate such people.

I have tended to shy away from giving financial rewards for referrals. I compare it to giving money to a member of my family on their birthday instead of giving a gift. It shows a lack of creativity and thought on my part and, as humans tend to be so fickle, people tend to forget your monetary gift a lot quicker than if it were a tangible present.

My preference is to either give back awesome referrals or give a physical gift or I’ll invite them to a private dinner party. In the case of the latter, the gift is an experience for the recipient to mix and mingle with highly connected and respected individuals.

So, use the next seven days to think about how you can inspire and motivate your contacts by rewarding them with a simple gift that you are both comfortable with.

Want to find out more about how you can boost your business referrals, then why not book yourself for the Referral Sales Summit on Tuesday 27th June 2006 in Birmingham, UK?