All sales reps want referrals because they can lead to quick and easy sales. Yet referrals are hard to get. If we think of referrals as one thing entirely they become elusive. Why?
Because those that want to give us referrals often lack the time to do it. Those that can, may feel uneasy referring us in case we make them look bad.
However, by deconstructing referrals into their parts it’s easier to benefit from components rather than waiting for the entire referral. Understand? May be not. Read on and all will become clear, or at least clearer.
A Referral in 4 Parts
Your best referrals will come from business contacts who meet these criteria from “The Quick Sales Funnel and Super 8“:
- They know you & your company
- They like you personally
- They have time for you
- They value what you do
But there’s more to referrals than just wanting the opportunity. The four parts of a referral are:
#1 The Referrer
#2 Contact Data
#3 Inside Info
#4 The Referral Introduction
#1 The Referrer
Not all those willing to refer you will have the same value to your sales’ efforts.
Because your time is limited, work from a prioritized list of those who will introduce you, or provide a lead. Here is how to identify your high priority referrers:
1.1 They work for a highly visible, well known company
While this isn’t a requirement, it’s what you hope for. Your referrer works for a Microsoft or Apple or GE or Goldman Sachs. It’s the brag factor that counts as most of your referrals will be made to lesser beings. So start your referral efforts with high visibility brands first.
1.2 They are recognized as Subject Matter Experts in their fields
Obviously, you can’t alter whether they have this status or not. But you can first choose those that have, then follow with the balance of your referrers.
1.3 They have personal connections with your target prospects
A personal connection is obviously stronger than a professional one only. The personal relationship has the potential for providing secret insights of the target prospects.
1.4 They have a professional connection with your target prospects
In the absence of a personal connection, professional credence is valuable. Even if your referrer is not from a high-profile company, the fact they have worked with your target prospects can lend weight to their referral. Again, you can’t do anything about this, but you can prioritize them.
#2 Contact Data
At the most basic level your referrer provides a name, title, email and/or phone number of a target prospect. This is also called a “cold referral” as there is no referral action, only the contact info.
#3 Inside Info
This is the information your referrer gives you regarding the secret info on your target prospects (ethically of course).
Receiving inside information about your target prospects is pure gold. It gives you an immediate base from which to develop talking points, and provides a platform for developing your sales offer.
#4 The Referral Introduction
This is the payoff, the desired outcome of selling by referral; the referral action itself.
Since this is where your referrer is going to say something about you, do what you can to shape what they say. If you can, prep them to mention specifics, such as ROI, improvements, cost savings, or benefits you’ve delivered. Of course this depends on your relationship but it’s worth asking for.
Your referrer can make the referral introduction in several ways, some are more helpful to your success than others. Here they are:
4.1 In-person
Your referrer introduces you face-to-face – the best you can hope for, especially if they say the great things you prepped them to.
4.2 Voice message from your referrer tells them to take your call
Not as warm as the in-person because your targeted prospect may forget your name from the voice mail.
4.3 Web meeting with your referrer
Enables you to launch your intro presentation if appropriate, and if your referrer is kind enough, they’ll stick around and answer questions from your target prospect, or provide a testimonial to your greatness.
4.4 Email introduction from your referrer where you are cc:d in the email
This is also known as a virtual introduction as neither party engages in a conversation.
Consider writing the email intro for your referrer as this will highlight specific benefits and outcomes you’ve delivered. Additionally, it’s easier on your referrer, saving them the time and effort to write it themselves.
4.5 Request Intro within LinkedIn
LinkedIn provides several ways of getting a virtual introduction, it just depends upon your subscription, whether it’s the free basic or paid premium.
Visit LinkedIn to learn the most effective way to request an introduction for your subscription.
Summary
The four parts of a referral are:
# 1 The Referrer
#2 Contact Data
#3 Inside Info
#4 Referral Introduction
Referral introductions come in five flavors:
- In-person
- Voice mail
- Web meeting
