Showing posts with label referral sources. Show all posts
Showing posts with label referral sources. Show all posts

Tuesday, June 10, 2014

The Apple Tree

It's funny how real life provides great example of business sense!  This is all about my apple tree.  So first let me digress.

In the word-of-mouth marketing world, someone who provides multiple and ongoing referrals is nicknamed an apple tree.  The person who buys is the apple.  Good analogy, right?

Well, enter my apple tree, an heirloom, Arkansas Black.  It is a couple decades old.  It didn't start producing till about 2 1/2 years ago and then by golly, it gave us so much that we didn't know what to do with all of the apples.  Same last fall, only I think there was more fruit.  We have given it minimal care, but it is protected from the winter's evil winds and is a tree that the grand girls love to climb.  It
gets plenty of water where it is located.

Wow!  My tree is just like a the business apple tree.  It didn't produce overnight, in fact, in the referral world, I probably would have not gone the extra years to get to production.  With people "apple trees" they are a long term project.  They have to get groomed and talked to to develop the strong relationship before that first referral is ever issued.  But if we stay long enough, the apples are so many that we just have to keep calm and enjoy the abundance.

Monday, July 18, 2011

Getting What You Want

Recently someone asked me, "But how do I find a person who will refer to me on a regular basis?"

I wish I could say, "You just need to kiss the frog and like magic, referrals start hopping your way," but I'd be sugar-coating a process that is long term, both in results and in development.

One way to catch the attention of someone who might be the best source of referrals is to give that person a qualified referral first. You ask, "But how do I do that if I don't really know what they need?"

Take a step back and get to know them better over coffee, lunch, breakfast or drinks. Or all four! If you don't know them well enough to refer them, then guess what? Probably it's comin' right back at ya'.

Once the relationship has evolved to this more seasoned level, then you can begin to listen (or hopefully you've listened all along) for opportunities. It may not be just in the person's business life, but also in their personal life.

One book that I'm recommending that really helped me to open my referral ears is, Money on the Table, Referrals in the Bank by Lee Abraham. It will change the way you listen and will offer you the opportunity to give more qualified referrals. And of course, you can teach these techniques to the very people you want referrals from!

What's your experience with developing these referral sources?

Friday, December 18, 2009

Is it a Fit?

Recently two of my friends have shared experiences with me about being strong-armed by referral sources. In both instances my friends didn't feel good about the situation.

I asked a few questions in each of the above situations.

In both, my two friends didn't have knowledge of the target market of the said partners. Now, I tell ya' that's a killer right there. How in the world can anyone help another if the person wanting help (in the form of new business) doesn't know and can't articulate what prospects they want?

Yeesh!

Secondly, in each situation, my friends were feeling pressured to be in the partnership. This is where I tell everyone to take a step back. If you are having gut level feelings like this, it is probably because your gut is trying to tell you something.

I think a very good phrase to use in this instance is, "You know I'd rather preserve our friendship than jump into something that just doesn't seem right for both of us."

Referral partnerships should feel natural. If it doesn't at the beginning, just like in a marriage, it probably won't get better later.

What is your experience in working with referral partners?

Wednesday, June 17, 2009

Mouthwash Needed?

Not too long ago I helped someone indirectly. Without much effort on my part, I steered a nice piece of business to this person and also at the same time eliminated the chance for competition. I really didn't think much about it. It was the right thing to do.

The person I helped is someone that I had always wanted as a referral partner, someone that would send referrals my way and also had the ability to do so.

But it had never happened.

I had helped this person before but always thinking that I should get something in return.

Isn't it serendipity that the first time I sent assistance without thinking of getting anything that this person now wants to help me.

Do you think I had commission breath before?????

Friday, October 17, 2008

One for You and One for Me

In word-of-mouth marketing, we try to reinforce the concept of reciprocal relationships, where both partners receive benefit. That might mean that for every referral I give to you that you give me one in return.

Well, yeah, that is the ideal world.

So now let's get real.

Mutually beneficial relationships can take on various shades of reciprocity.

Kendra Saldana, owner of Smart Sites by Kendra, is a great example of how she helps her referral partners. One of them, a radio station, has a popular advertising package that requires their client to have a website. No website, means they can't have this package. This is where Kendra comes in. The radio station refers the prospect to Kendra, she develops a website. Sometimes it is just a very simple one page deal, other times it is more complex. Once done, she steers them back to the station, so they can now get the advertising package.

In this situation everyone wins. Kendra gets a new client. The radio station gets a new client and the business gets the advertising they want.

Kendra has not had much opportunity to send a client to the radio station directily from her own sales efforts but the radio station still feels like they are getting what they need because Kendra is solidifying the possibility for them to get a client when she builds the website. Mutually beneficial.

Do you have some examples of recipricol referral relationships?

Thursday, August 28, 2008

"She Can't Refer Me..... Sob!"

This week I got a great question from Sharon Czarny who owns the Czarny Insurance Agency.

She explained that a good friend (we'll call her Susie) of hers who owns a large business in town, does not place her business health insurance with Sharon. Sharon does not fault Susie, knowing that the previous provider has a longer standing relationship.

But Sharon was insistent that Susie would not be able to refer business because of course, "Susie does not know the benefits I (Sharon) would provide."

I disagreed totally with her.

My questions to Sharon were, "Does Susie know who you are? Does she know the type of person you are. Are you referable?" Of course the answers to all three queries were a resounding yes!

"Then," I said, "There is every reason for Susie to refer you. She knows how you'll act with her clients and friends."

As I was driving home from this meeting in my little yellow Mini, I reflected even more on this age-old question. Then at the red light, waiting to turn left, I had an aha moment!

When a prospect says the word yes and decides to become your client, they are basing this yes on perceived future performance. That perception is based on your personality, references from others, your performance to date and a lot of hunch. They really have no idea of how it is going to be as your customer, because they have not experienced that yet.

It is the same with a referral source. They do not always have to be a client to have the hunch that you will make them look good.

There! Simple. But I'd never put it into words before.

What aha moment have you had this week?

Thursday, July 19, 2007

Rewards Can Be Tricky

This is a funny story.

Last week at our monthly CN lunch, Julie Kuney provided the short educational moment. Julie is the co-owner of ComfortKeepers, a company that provides non-medical, in-home care, typically to seniors.

Julie talked about rewarding our referral sources and how important it is to do so and do so appropriately. Then she took out two big plastic bags and kind of tongue-in-cheek said that she was giving us all two gifts. In one bag were individually wrapped mints and in the other bag were invidual envelopes of deodorant. I'm sure these are items she uses in her business.

What she did not do, but would have been even funnier, would have been to pass out the mints to just half the room and the deodorant to the other half. I'm sure the second half would have felt slighted.

It would have been the perfect example of what happens when we don't think through the gifts we give to referral sources or even clients. Making sure the reward is the same value and in the same vein is important. After all, your referral sources do talk and if one finds out they didn't get as nice a gift, you'll be handling that awkward issue forever.

Wednesday, May 16, 2007

Unlikely Partners

Today, I visited with the Bowling Green, Ohio, Silver Dollar BNI chapter for a visitor day.

There are several reasons to have a visitor day; new members and new opportunities.

But who would think that a Heating and Cooling guy and a woman that sells Shaklee would have anything in common.

This is what I love about networking. It is so unpredictable.

Today the visitor, the HVAC guy, talked about being new to town and that they are focusing on those types of issues that are more "green" like geo-thermal and wind turbines. In fact the company name is Green by Design.

The member, Kaylene Smith, asked for people who want to live "green" lives as her referral request. Shaklee's products support that lifestyle. Now, I don't know what is going to happen with these two, but it sure would stand to reason that they might have customers in common and would be able to refer to each other.

Who'da thunk it?????

What's the most unlikely referral pairing that you have run into?

Monday, April 16, 2007

Networking Drag Race

Today I met with a student from one of our Certified Networker classes. He is a financial planner -- one who has retired from a successful career in corporate America. This is a tough transition.

His confusion was with the lack of excitement on the part of an attorney that he offered to "be a resource" to. He said, I just don't understand why he doesn't want to have me be part of his team. I'm not selling anything to him."

I asked him the level of relationship he had with said lawyer. The answer was "very early stages of relationship."

I sat back and said, "Well, let me get this straight. Someone is going to risk his reputation with his clients with someone he doesn't even know?"

I have to give credit to my student. The light bulb went on. Even though in the strict sense of the word, he was not selling, he realized that he really was. And because he hadn't done any credibility building, there was no trust factor to enable the attorney to say yes.

Additionally, the attorney had no idea what my student would do for him in return, except take profits from his client. My student was rushing the relationship. Seth Godin talked about this in a post about political campaigns and access to email. He says, "Political campaigns extinguish plenty of goodwill because they instantly move from 0 to 60 miles per hour."

Have you been "rushed?" How did you feel about the person who was doing the rushing?

Thursday, February 15, 2007

Lesson From a Snowflake

Last night I was preparing my 60 second (in my chapter we get 45 seconds) sales manager minute for my BNI meeting this morning. Because of a mid-sized winter storm, I had been able to look out my office window at a beautiful white blanket, instead of the usual farmer's brown field. NW Ohio is much prettier with snow, than without! But I think I am very much in the minority with that opinion.

I started to think about how a snowflake is very much like a referral partner. First you have to find the one with the right design for you. Then as when something like a tree or fence slows the rate of speed of the flakes, they clump together to form the magnificent drifts. With referral partners, taking the time to get to develop a stronger relationship, delivers a similar result. If done properly, soon there is a drift of qualified referrals coming your way. Yes, it is a factor of time spent with this person, but it is also the slowing of life. Most of us have to operate at the speed of light without a thought of how to help someone. It's the pause that makes the difference.

What do you think makes a productive referral partner?