A Tip to Increase Your Sales Referrals – Quickly!
We’re all told about the value of referrals and how powerful they can be. But to put that into context let’s look at one of the key studies into sales referrals:
People are 4 x more likely to buy a product when it’s referred to them by a friend (Nielson)
That’s a formidable increase in our success. If every one of our leads and prospects was a referral then our sales would quadruple.
So you get the point, referrals are highly desirable. The dilemma we have as sales people and/or business owners is how do I increase the number of referrals I receive.
Now there are numerous techniques we recommend in Sales Icon coaching, predominantly being improving customer experience and this is the proven route. However, improving customer experience is a long term strategy.
You, as I, want a quick win tip that you can apply today. So here it is…
It’s called the favour referral and it’s one of my favourite referral techniques.
Think about it for a second, how many times a day or a week do you or your business offer a favour to your customers? We all have instances of favours. For instance when a customer sets you outrageous deadlines. Or when they ask you to help with X or advise on Y. Or when they contact you in dire need and you make their life much easier, they are all favours.
So what’s the tip? Well any favour is a massive opportunity for a referral. You should make it a habit that every time you fulfil a favour that when it’s completed you ask your customer for a referral.
Will it always come off? Not every time no, but even if it only works 10% of the time that’s 10% more than you had. So next time you’re asked by a customer for a favour, fulfil it and then ask that magic question.
It’s as simple as that, and you can apply it today.
Think favour, think referral!