Are you worried about whom you'll sell today so you can feed your family tomorrow? Are you jealous of the top producers who are getting phone calls from new prospects every day? Wouldn't you love to come to the office and find your mail box full of messages from potential clients?
I'm going to show you the easiest, quickest and most effective lead generation method to grow your business, using word of mouth or referrals.
Referrals are the most effective way to create a steady stream of customers for your product or service. In most businesses referrals generate over 70% of their sales. However, salespeople spend the least amount of time, money and energy developing referral sources.
Doesn't it make sense to put your focus, attention and resources into the lead generation activities that will reap the greatest benefits?
If you aren't currently using a system to generate referrals, you're leaving thousands of dollars on the table and missing out on a golden opportunity to skyrocket your sales.
According to statistics, the average person has a relationship with 250 people!
In other words when you write a list of everyone you know personally, it will likely add up to around 250 people.
What this means is that every client you currently have opens a door to 250 more!
So, when you know how to get your clients talking about your business, you'll have a big network you can easily tap into.
Could anything be better for lead generation for your business?
Developing referral sources begins by creating relationships. Smart sales people will break even or even lose money to create a relationship with a new customer.
Why?
They understand that once they have a relationship with a client, selling to them becomes much easier. So it makes sense to do whatever you can to create new relationships.
Word of mouth is a very powerful tool. When you harness the power of word of mouth, you can build relationships with hundreds of people through the network that your clients have.
Since we all trust our family and friends more than we trust sales people, getting a new client by referral is easier than getting a new client by any other means of self promotion.
A referral gives you instant credibility with the family and friends of all your current clients. When your clients refer someone to you or your business, they are giving you a personal endorsement. They're saying to that friend or family member they trust you and whatever bond you have with your clients can and often will get transferred to their friends when they're enthusiastically told about you.
According to industry sources, customers who come to an individual or business by referral:
* Spend more money on each purchase
* Buy more often
* Are more loyal
* Refer more customers
* Trust your advice
So by seeking out referrals you'll increase your income and have more time to enjoy life.
Most of the time getting referrals is free. Even if you do spend money to maximize your lead generation by referral it's the best place to spend your marketing dollars.
In order to get referrals on a regular basis and to continue to grow that number over time it's important to have systems in place and a plan for generating referrals.
Jim Klein helps salespeople fine tune the sales process so they can confidently close more sales and create long term relationships. Get free sales training by subscribing to our free newsletter "The Sales Advisor".