Bill Cates

Article Summary:

You can get more clients if you have these beliefs about referral marketing.

Get More Clients Using Referral Marketing

Is cold calling dead?
If it's not dead, then it's barely breathing. Anyone trying to build a business with cold calling should have their head examined. Whether you're selling B to B or B to C, the results from cold calling don't ever come close to justifying the time and energy one needs to expend in this inefficient activity. Over 72 million households have registered for the National Do-Not-Call list. Voice mail, Caller ID, and well-trained gate keepers make it tougher than ever before to reach good prospects through cold calling. Besides, it's clearly not the way your prospects truly want to meet you anyway.

Enter the referral. It's an age old marketing method, but significantly under-utilized in most industries.

While most salespeople and small business owners know that building a business with referrals is the most cost effective, time efficient, and most enjoyable way, very few use a systematic approach to making referrals happen. Why? Either they have never been taught a system, or they're afraid of using a referral system.

Do you have a Referral Mindset?
Building a referral-based business begins with your thinking. The more powerful your thinking, the more powerful your actions; therefore, the more powerful your results. I call this having a Referral Mindset.

You have a Referral Mindset if this is your thinking:

  1. I understand that my prospects prefer to meet me through referrals.
    Once you realize that a client's preferred way to meet you is through a referral, it MUST become your primary method of meeting them.
  2. I understand that building my business from referrals is the most cost effective method.
    What does it cost to do a direct mail campaign? Advertise? Go to trade shows? Hire a publicist? Host a prospecting seminar? Usually a lot! What does it cost to build your business from referrals? Virtually nothing! A referral-based business model is always the most profitable.
  3. I look to leverage the full life-time value of my clients.
    The longer the relationship lasts, the more trust you can build (if you provide quality service, always adding value), and the more high-quality referrals you will receive. The life-time value of a client is not just what they can buy from you over that time, it's who they can introduce you to over that time. Quite often, the best referrals come later on in the relationship.
  4. Have a system for bringing in referrals.
    If you don't have a system for generating referrals, you'll either burn out from too much cold calling or other less-productive activity. Or, perhaps, your sales production will resemble a roller coaster ride. With a system in place, you can begin each month knowing you'll have a steady supply of quality prospects to turn into clients.
  5. I give referrals and make connections whenever I can.
    There is no better way to start the flow of referrals coming to you than by giving referrals to others as often as you can. If you don't like to give referrals, how can never expect to set up a dynamic of clients giving you lots of referral? And when you do give referrals, always follow up with each party to make sure a great connection was made.
  6. I expect to get referrals.
    Have an attitude of expectation around referrals. Approach referrals with confident awareness. First, understand the value of your products and services. Then have the awareness of all the opportunities you have to generate referrals. You'll be amazed at what a difference this simple attitude shift will make for you. Of course, not everyone will play the referral game. But having an attitude of expectation will help you see all the opportunity you've been missing.

A referral mindset is the necessary foundation upon which you will build your referral-based business.

Bill Cates, CSP, has revolutionized the way financial professionals generate an abundance of high-quality referrals. His first two books, "Unlimited Referrals" and "Get More Referrals Now!" 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: Proven Tactics to Get Referrals and Introductions", is receiving rave reviews. Bill is the president of Referral Coach International and the creator of Bill Cates' Unlimited Referrals® Marketing System. More information is available at www.ReferralCoachInternational.com.

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