Referral Business Opportunities in Sales

It is a fact that every person knows quite a few other people.  On that basis we can use the connections of our clients to grow our businesses and sales opportunities.

So this is the advantage of ‘referral’ business.  It’s always there for us to tap into.  It’s just a matter of asking the right questions with the right people at the right time.  That being said, the client must trust you and fully respect your relevance and experience.

Now it should be said that the process only works when you have served a client very well; when they are fully satisfied with the outcomes achieved.  Their great satisfaction will give the momentum to the referral question and the leads to the people that they know.

Would you reward a person in some way for a converted referral?  In most cases a simple gift or benefit will show the client that you are grateful for them in passing on the name of the referral.  Even something as simple as ‘theatre tickets’, can be a positive way of showing the client that you really appreciate their help.

A good example of how this process works is well evidenced in the use of social media and ‘LinkedIn’.  It is a social media platform that is built on the back of relationships and connections.  Why not use this idea yourself and network through your good clients to others that they know and that you can serve?

How to Create More Referral Business in Sales Teams Today

In business today, you should be making sales presentations quite regularly.  Getting to know more people in the right way will help with this process.

Do you like prospecting?  If you work in ‘sales’, you must like prospecting; it is the only thing that will make all the difference to your business career and productivity.

The pipeline for most salespeople involves a process or a series of stages.  All of the following bits follow each other in succession.

  • Researching people to call
  • Making cold calls
  • Qualifying the person
  • Creating meetings
  • Connecting with relevance
  • Presenting and pitching
  • Closing
  • Referral business
  • Maintaining a database of contact

Many clients and prospects will not move to the end of the process quickly.  Some will not get to the end of the chain or pipeline at all.  Only a few people in every 50 that start the process with you will get to the other end.  That is why prospecting is a continual process.

It is worth noting that many salespeople struggle with the system that all of this requires.  They find it hard to keep the process moving ahead.  That in itself is a major opportunity for those top salespeople that can keep on track and systemised.

The best sales presentation that you will likely do with prospects is usually the one where the prospect has rung you and asked to see you.  The prospect has already heard of your offering and relevance.  They make the call and ask you to see them.  This prospect has already been ‘warmed’ to you or your business for some reason.

So how do you get to this stage of your business where people ring you?  It is usually through introduction and referral connections.  Your existing customers have passed your information on to friends with appropriate recommendations.

Providing you do an excellent job in providing your product or services to clients, this situation will start to evolve and boost your business.  For this single reason, all of your client relationships should be nurtured with the end result referral business in mind.  Soon your business will grow in ways you least expect.