Peady’s Selling Engagement
According to a study by Texas Tech University83% of customers would be happy to provide a referral after a positive experience however very few actually do because not enough salespeople ask!
Marc Wayshak also did some research on this and found 47% of top sales performers ask for referrals consistently versus only 26% of non-performers doing the same.
Referrals are the golden ticket to B2B sales success. With referred leads, it’s easier to set appointments and have productive business discussions because a level of trust is already established and in turn this trust will increase your pipeline momentum.
Welcome to this week’s post on sales and selling success.
So, if everyone agrees that referrals are the most effective way to generate new business, why do many salespeople feel awkward asking for them? Is it that you don’t want to come across as desperate or pushy? Really?
Here’s a few ideas to make asking for referrals easier
- Give referrals. Recommend your customers to others (let them know you’ve done it).
- Don’t ask too early in a relationship. Ensure you have a fully satisfied customer who will genuinely speak on your behalf.
- Keep it simple. Ask for ‘introductions’ – make it low key and informal “I’d really appreciate your help….”
- Use social media such as LinkedIn. “I noticed that you are friend/are connected with Bill Smith, could you help me with an introduction?”
- Don’t send an email! Ask face to face at your next meeting or maybe on the phone.
Bonus tip: If some one gives you a referred introduction remember to thank them – a small gift is even better.
Research proves the power of referrals: According to Nielsen, people are four times more likely to buy when referred by a friend or associate and over 90% of people trust referrals from people they know. In the absence of a referral, you are a stranger to a prospective customer, they have no basis for trusting you.
And asking for referrals is one of the simplest ways you can generate new business.
Until next week, good selling!
About the author
Stephen Pead is a media industry veteran of 30 years with significant experience in direct sales, sales management and general management. He is based in Sydney and specialises in helping SME’s market their businesses more effectively and providing training for salespeople and sales managers.
He can be contacted at [email protected]