Referrals Are Better Than Gold

The smartest and most efficient way to generate prospects is with referrals. Once you have defined your target and your brand, I would turn my focus towards building a strong referral engine/platform.  The cost of obtaining sales from within your current clientele is said to be 1/6th the cost of generating new prospects that convert to clients.

Once again, Geoffrey James has done a nice job of defining the referral process as 6 key steps, summarized below:

  1. Understand the concept
  2. Ask for it, but only when you have earned the right
  3. Go the extra mile to earn that right
  4. Confirm you have earned that right by asking for testimonial
  5. Ask for an action not a name/contact info
  6. Follow up like never before. Not doing so has a bad ripple effect

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Earn the business buy delivering value, then ask for more…

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