Most sales people don't get referrals because they don't ask.

Chew on this;  you go to McDonald's and order a Big Mac. What does the person say? "Do you want fries with that?" How much annual revenue do you think McDonald's makes by simply asking that question? Millions! What would happen if you went to McDonald's and did not place an order but threw money in the window? What would you receive? You probably would not get what you expected or perhaps nothing at all.

Most sales people do not expect anything or get anything for the same reason. They do not ask, nor do they know how and when to ask. You must know how to define the waiting period. You do not have to wait until your prospect becomes a client. In fact, it is a big mistake. The waiting period is when your clients are most dependent on you. 

If you are a builder, it could be the day before you close while you are going over the "punch list" items. For a mortgage broker, it could be the three days before the loan is funded. For a realtor, it could be the day before the closing.

Knowing when to ask and how to ask will allow you to receive. In fact, the best time to ask for a referral is during the “waiting period." 

Never meet a first appointment for lunch. Never!

Your prospect can be late.  Your table could be delayed. Your prospect might not feel comfortable sharing personal information in public.  If you need any documents you just created a second appointment which could have been avoided. 

Never meet at your office.  How many new prospects can you meet there?  Always meet at their office and never right after lunch.  Additionally, quantify and qualify.  Make sure you have the decision maker.  In other words, are you meeting with the person who signs the check (the front of the check)? 

Be sure to meet with anyone else involved in the decision making process!  If meeting at their office, the chances are greater that you can meet those other people while you are there.  The actual time when you see prospects is critical and there is a direct correlation to your closing ratio.  Have you ever tracked your closing ratio with the actual time of day you are trying to make sales?  

Never give a referral to a networking chum unless you are doing it in person. You run the risk of getting no credit for the introduction if not handled properly. Remaining in touch with both parties is very important to make sure no one gets selective amnesia when things go according to plan.  On the other hand, if things go poorly, you have a major liability on your hands.  So, your networking chum who you have invested time and money into gets the benefit or detriment of your introduction so you must manage the relationship and make sure your good intentions do not create a problem for two of your valued people.  If you neglect to do this, don’t be surprised if you get some angry phone calls from time to time.  

For example: your introduction is also a client and two years later because everyone got very busy, you find your networking chum worked you over and accidentally introduced one of your competitors to the guy you originally connected him with.  Ouch!  It happens all the time.  The wires have to be connected properly or you can have a fire. 

When it comes to sharing STUFF:

 > Supplies

 > Time

 > Understanding

 > Finances

 > Friends


Proceed with caution…

©Gold Coast Sales Training Institute, LLC