As a business owner, you most likely understand the importance of learning to grow your business by referrals. Referrals are the least difficult, most steady approach to filling your sales pipeline. Truth be told, one of my clients tripled his business in only one year by making referrals a top priority.
Sadly, most business owners still don’t ask for referrals since they fear being rejected. In case you’re like them, I have a big question for you; what do you stand to lose by requesting a referral? Very little. Then again, what do you lose by not asking? Opportunities, customers, and sales.
Here are three simple ways you can grow your business by referrals.
Start requesting introductions.
The initial step to growing your business by referrals is to quit asking for referrals. I believe that may sound contradictory, however, it’s reality. It’s a time to understand that requesting referrals isn’t as compelling as asking for introductions. When you approach customers or prospects for referrals, they’re regularly confounded about what you’ll require from them. Do you need a reference? A name and number? Something different?
Clear up the confusion by requesting introductions. You can begin with; “John, would you introduce me to three other people in your network?” This approach clears up the ambiguity of referrals and instead tells your contact precisely how they can help you to connect with the prospects you need to meet.
Set aside 15 minutes every day.
In a bid to keep your sales pipeline full, focus on requesting one introduction on a daily basis. This may sound overwhelming, however, you can get an introduction in 15 minutes or less. This will rapidly turn into the most important 15 minutes of your day. You can ask prospects, customers, friends or family – any individual who can connect you with somebody needing your product or service.
By making this a regular routine, you’ll make five new introductions weekly, eventually leading to 250 introductions yearly. Can you imagine how 250 introductions would change your business dramatically? All you need to do is spend just 15 minutes per day on this business building activity, and you’ll see a sensational increase in sales.
Host an exclusive event.
Hosting an event may seem like a considerable amount of work, but on the other hand, it’s the absolute best strategy for connecting with new customers. Try hosting three to six events each year. Pick a classy venue that showcases the level of the event and your service, then invite high-level customers and prospects from your target market.
Approach everybody you know for introductions to people who might be keen on attending, and invite top customers to bring along others from their networks. At the event, utilise your knowledge of their business to share best practices you’ve witnessed to position yourself as an authority. These events create a great chance to meet new prospects, boost your worth, and allows your customers to do the selling for you, as they educate your prospects about the incredible experiences they’ve had with you!
Right, now you have three simple steps to grow your business by referrals. How will you implement these steps in your own business?