Is your financial business hidden from the eyes of prospective clients? As exciting as that may sound, it's not a good thing. Obviously, your business can't flourish without a constant flow of new clients -- so what's damming up the flood of customers? As crazy as it sounds, it's probably because your current clients are keeping you on the down low.
Do they want to keep you all to themselves? Probably not -- more than likely it's because you haven't made yourself referable, according to Bill Cates, author of "Don't Keep Me a Secret! Proven Tactics to Get More Referrals and Introductions" (McGraw-Hill 2008).
"Study after study has demonstrated that the best clients want to meet you through an introduction from someone they already trust, like a friend, family member, colleague, or advisor," Cates writes. "Given this, why would you make referrals a passive process?"
President of Referral Coach International, Cates is also an author, speaker, and consultant who specializes in the art of referrals. With 25 years of sales experience under his belt, he has discovered that referral-based businesses are typically the most successful. However, he says, most simply haven't mastered the referral process.
"Why are most people not fully committed to being proactive with referrals?" he asks in his book. "Simple! It's fear. The beautiful thing is that once you understand, face, and move through your fear, a whole new world of referral opportunity opens up to you."
Make yourself referable from the get-go
If you want to make yourself referable, you have to bring true value to your clients. After all, your customers will never recommend you to a friend, family member, or colleague if they aren't thrilled with your services. The good news is that you can make yourself referable in your very first appointment.
"I've learned that when you provide tangible value early in the relationship, not only are you more likely to make the sale, but also you'll do it in a way that will make you referable very early on," Cates writes. "You won't have to wait days, weeks, or months to become referable."
In his book, Cates says you can make yourself instantly referable by doing the following:
- Bring value to your client. Educate them about your products and services, offer them a big-picture perspective, and question their assumptions.
- Learn about your new client. Be genuinely curious about them, ask them questions, and listen intently to their answers.
- Give referrals. Recommend other professionals who may be able to help your client.
- Be on time for all your appointments and always do what you say you're going to do.
Throw a party
A referral event is one of the best ways to get referrals. Cates says you should invite your current clients and ask them to bring family members, friends, and colleagues so you'll have an opportunity to meet potential new clients. The options are limitless. For example, you could host a wine tasting, boat outing, theater event, health spa party, golf outing, or picnic.
Cates says you should personally call your clients to invite them and a couple of guests to the event. Be sure to point out that you won't be making a sales pitch at the event, but that you may follow up with interested parties after the event.
"A key component to its success will be the personal conversations you have with your clients," write Cates. "Invite your 'A' clients, and don't delegate this phone call to an assistant!"
If your clients aren't shouting from the rooftops about your exceptional services and showering you with referrals, it may be time for a change. In "Don't Keep Me a Secret," Cates offers advice on how to get the referrals flowing. "The good news about referrals is that one client can lead to two, and two can lead to four, and four can lead to eight."
Amy Bell is a freelance writer and frequent contributor to the Agent's Sales Journal. Visit her Web site at www.writepunch.com or email her at amy@writepunch.com. "Don't Keep Me a Secret! Proven Tactics to Get More Referrals and Introductions" is available for purchase at www.referralcoach.com.
