Referrals Equals Success
Ivan Misner, is the Founder and CEO of Business Network International (BNI), the world's guru of networking, and the author of several books on the subject, like The World's Best Known Marketing Secret. BNI is the premier business referral organization in the world with local groups meeting around the world to network, share leads, and encourage community. Our kind of folks. During one visit on the show Ivan and I talked about referrals. He's the top guy on referrals, too.Ivan thinks most people don't do a good job of getting referrals because they don't know how to ask for them. I agree. He has an excellent suggestion to help us with this.
Ivan says, "Don't make your center-of-influence do all your work for you. Help them out by asking this question, 'Who do you know who...?' and then finish the sentence with a description that fits your business, industry, product, service, etc." Here's an example: John, let me ask you a question, who do you know who buys advertising? ...truck tires? ...owns apartments? You get the picture.
I have created a concept I call "Jim Blasingame's Entrée Spectrum." The Entrée Spectrum quantifies the value of the method used to get in front of a prospect. On the low percentage end of the spectrum, "1", is the Cold Call. On the high percentage end of the spectrum, "10", is the Referral. Setting up an appointment on your own is in the middle.
The difference between having a referral and making a cold call is like the difference between lightning and lightning bug. (I like that metaphor, so expect to see it again.) Sometimes you have to make cold calls, but they will wear you out, mentally, physically, and emotionally. Compared to a cold call, going in with a referral is like going on a picnic.
You can't talk about referrals without mentioning credibility. You'll need that to get referrals. The first time someone refers a prospect to you, they need to believe that they have a reasonable expectation of positive performance. But until you have delivered on a referral, the first referral will sound something like this, "You might give Dave a call. I just met him, so I can't say for sure that he will deliver. My instinct tells me he will, but I can't give you an unqualified recommendation. Oh, and one more thing, be sure to let me know how things work out, whether you do business or not."
Fair enough, right? Congratulations, Dave. You got yourself a referral, albeit a qualified one. Now it's your top priority to make sure that the next time that center-of-influence refers you, it is unqualified, and sounds something like this, "Yeah, I know someone who can handle that for you. Call Dave at this number, and tell him I sent you. You can count on him to get the job done."
On my Entrée Spectrum, the first referral is a 6 or a 7. Just above an appointment you got on your own. The last example is a 10. Top of the line. Almost money in the bank (if you don't mess it up). Your life just got simpler.
Here's a way to get someone to move that initial referral up a notch on the Entrée Spectrum. When I meet someone who could be a center-of-influence, I promise them that if they give me a referral, they won't regret doing it. And then I make sure that they don't.
There's one last step you must take when you know you've gotten a referral: You must contact your center-of-influence and thank them, regardless of the relative success of the referral. A referral IS success. At least one step toward it. A phone call is minimum. A hand written note is better. And if time permits for your benefactor, lunch on you.
Before I close, I want to talk about giving referrals. One really excellent way to gain credibility is to become a center-of-influence yourself. You do this by being seen as someone who knows the best people to do business with.
I like what Ivan says about this. He says, "Givers gain", and it's the essence of what they do at BNI. Actually Ivan wasn't the first to say that. Another wise man, and author of a pretty important book, Ecclesiastes, once said, "Cast your bread upon the water, for after many days you will find it again." Ivan's message is shorter, but King Solomon said it prettier.
Write this on a rock... If you want to be more successful, practice asking for referrals and then do it often. Having referrals will simplify your life. And don't forget about that bread.
