What’s Your Referral Engine?

what's your referral engine-motivational sales speaker

One of the most effective ways to find great new clients is to get into the habit of asking everyone in your network for introductions to great clients. Notice that I use the phrase, “ask for introductions,” not referrals. This is because we don’t want some weak “use my name” referrals—we want well set-up introductions.

But the question is, why are you not getting more introductions than you can possibly handle right now?

The answer is that you probably just aren’t asking.

Thus, the Introduction Challenge.

This all came about a few years back when a business-owner client of mine said to me, “Marc, I really want to grow sales, but I’m insanely busy. I’m not going to make cold calls, and I don’t have the time to just walk in on new prospects. What is the one thing that I can do to grow my business consistently that won’t take a lot of time.”

After being asked this very reasonable question, I came up with the Introduction Challenge. You can also apply this to your own business or selling career. So, here it is.

The Introduction Challenge: Ask for just one introduction each day.

That’s not too crazy, right? That’s maybe 5-10 minutes of work a day asking a client, prospect, or someone in a networking capacity for an introduction to someone you might be able to help.

But, let’s look at the math…

If you ask for 1 introduction per day, that is 5 introductions per week.

5 introductions per week in a typical year is 250 introductions asked for a year.

250 introductions asked for a year! Think about that—with just a 5-minute per day activity.

If only 20% of the people you ask actually give you an introduction, that is 50 introductions received per year.

If you close only half of those introductions (Note: introductions have a much, much higher close ratio than other sources of prospects), then you will have brought in 25 pieces of new business that year from one very simple activity.

So what are you waiting for? Go ask for today’s introduction!

Marc Wayshak is author of the book Game Plan Selling and a sales keynote speaker.

 

Get 25 tips to crush your sales goal. Written by Marc Wayshak, sales strategist & author of the book, "Game Plan Selling."

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