6 Ways to Ramp Up Your Referral Marketing
26 Aug 2013 Leave a Comment
in increase business ideas Tags: CRM, goals, referrals, relationship building, Sales, Sales Calls, sales tips, time management, tips
It’s no secret that one of the best ways to grow a business is through strong referrals. Whether these referrals come to you through a system you have in place or because of the solid reputation your business has built over the years, each referral is a precious gift. You have one chance to turn this opportunity into a client who will in turn refer others to your business.
If you drop the ball in some way, not only will you lose this chance for new business, but you could also discourage others from referring business to you. Therefore, you must handle these warm leads with extreme care. Here are six key steps to consider as you guide a referral into becoming a real customer.
- Respond quickly. Nothing will stop a referral process faster than slow response and showing a lack of urgency in communication. Lead360 conducted a study of 25 million data points which showed that successful conversion rates are 391% higher when a lead is called back within a minute, 120% within two minutes, 98% within three minutes, 62% in under thirty minutes, and 36% in under an hour. Clearly calling back and following up with referrals quickly is the first and most important part of the process.
- Gather information and qualify. Once contact has been made, it’s time to gather any necessary information to make sure there’s a good fit between what the referral is looking for and what you can provide. Having relevant, open-ended questions to ask will help you find what you’re looking for while at the same time establishing your expertise in helping solve client problems. This is the time to develop insight into the scope of the opportunity and key factors.
- Be the expert. Once you’ve established that the referral is a good fit for your business, it’s time to do your homework. You must spend a little time to learn about the referral’s business. The more you learn about what your prospect is looking to solve, the better you can prepare a solution. This in turn will position you as the expert who took the time to present a customized solution when your competitors offered a generic, cookie-cutter bid.
- Make your offer stand out. The best way to make your offer stand out is by adding value. People like to buy, but they don’t like to be sold to. You can add value and help your offer stand apart by helping a referral evaluate your capability and see their problem clearer. Relevant, simple, and insightful information that helps your prospect will lead them to buy much more readily than if they feel they are being sold to.
- Use technology. As great as your memory may be, relying on the old pen-and-paper system is just asking for trouble. The way to truly systematize the referral process is by using a CRM system that can help you track your referrals. Determine if the software will help you give the prospects the experience you set in your action plan. But remember that technology can only go so far. Sure, it can help you manage the referrals, but converting those leads into customers takes the human touch that only you can provide. There are two great popular programs, SAGE ACT http://www.act.com/ and SalesForce http://www.salesforce.com/
- Create a powerful experience. Turning a referral into a client can be as simple as contacting them quickly with information they’re seeking. However, the real secret to make them truly want to do business with you on a consistent basis is to create a “wow” experience. Your “wow” experience doesn’t have to be complex.
Building it can be as simple as:
• Responding to inquiries within 30 minutes
• Offering a small gift or thank you note for contacting you
• Sending a small gift or thank you to the person who made the referral
• Delivering a professionally prepared, customized solution with clear information
• Following up after the sale to answer any questions
• Being persistent without being a pest
Turning referrals into customers is not an act of magic or accomplished through luck. It’s done by developing an action plan and by implementing the plan. Keep track, stay organized, and monitor the process. Referral marketing can be a gift that keeps on giving, but only if it’s treated with the care and respect it deserves.
Defining Values, Mission, Vision, & Goals
21 Dec 2012 Leave a Comment
in Inspirational Tags: goals, mission, team building, values, vision, year end stuff
With the end of the year nearing, we at Print & Copy Factory and all staff members, will be revisiting that time-honored tradition of planning for the new year.We have done this as a tradition for 20 years now, and find that not only for professionally – but for each employee, creating these goals for themselves, we have found to be a very powerful team building exercise – as a commitment to their lives.
As part of the planning, we need to define what we want to accomplish. In order for our plan to be complete and comprehensive, we need to start with four elements:
- Values
- Mission
- Vision
- Goals
Many people have a tough time determining what values, mission, vision, and goals really are. Everyone knows they should have them, but most of us aren’t sure what each of these elements actually is or how they differ from one another.
Let’s end the confusion today!
Values are the qualities you stand for.
Mission is how you intend to change the world around you.
Vision is how you see yourself or your business in one year, two years, five years, or even longer down the road.
Goals are the outcomes you want to achieve over the next week, month, quarter, or year.
That’s it!
Of course, you could write whole books about each of these topics, but that’s all you need to start with. Complete these four objectives, and you’ll be well on your way to making your dreams a reality.
What if?
31 Jul 2012 Leave a Comment
in Inspirational Tags: burnout, goals
Do you ever find yourself playing the “what if” game? What if you had made a different choice with something in your past, whether a life decision or in business?
Sure you have. We all do.
When you’re evaluating these “what if” scenarios in your head, do you ever wonder how close you came to achieving some of the goals you set but for whatever reason never did?
It’s true that we shouldn’t dwell on the past, but it’s also worth mentioning that we all want to live a life that leaves little regret at the end of the day. So learning from our past mistakes (and victories) is an important part of our growth process.
When you want to reach anything worthwhile, you set goals. You put some effort into reaching your target. The higher the target and bigger the goal, the more effort it takes to reach it.
Simple concept, right? 1 + 2 = 3
Then if it’s so simple, why is it that we sometimes don’t reach the goals we set for ourselves?
On the surface, there’s a relatively simple answer. Effort. The amount of effort we needed to put in just wasn’t there. Why? Sometimes the reasons are external and beyond our control, but most often we allow internal issues to block us from reaching our goals.
Even more frustrating is the realization that we were probably much closer to reaching our goal than we ever realized. Water is really hot when it’s heated to 211 degrees. But it’s not until it reaches 212 degrees that water creates steam. Steam is what generates the power to move a locomotive, not warm water.
Whether you’re working on personal goals or business ones, the lesson here is that you’re probably tantalizingly close to reaching the top. Probably one tiny degree away.
Watch this short video to get a little inspiration to start making that one degree difference today.
7 Keys to a Successful Collaboration
21 Feb 2012 Leave a Comment
in Inspirational Tags: communication, goals, trust
The business annals are filled with examples of successful (and not so successful) collaborations. Many of the innovations we take for granted today are the result of individuals and organizations coming together to work toward a common goal. If your company is considering a collaboration (even internally between departments), here are a few tips to keep in mind:
Start with a common goal, and make sure all parties understand it. Outline your plan, and decide up front who will be responsible for which aspects of the project.
Spell out your expectations, key deliverables, and a timetable for completion. That way, everyone will start on the same page.
Establish trust… and work to maintain it. Without trust, information will not flow freely, and if that happens, the collaboration is doomed. Starting with common goals and expectations (see above) will go a long way to building trust, as will delivering on the promises you make.
Of course, building trust doesn’t mean compromising security. When collaborating with another company or with individuals outside your company, share only information that is vital to the project at hand. This will serve two purposes: First, it will save time that could be wasted getting into details that are irrelevant to the work. Second, it will eliminate leaks that could damage one collaborator’s position.
Along those same lines, have all parties involved sign non-disclosure agreements, as a legal safeguard to ensure everyone has the project’s best interest in mind. Obviously, this is not necessary for internal collaborations, but when working with outside parties, an NDA can keep everybody protected.
Let each collaborator focus on their strengths. In successful collaborations, each party brings its own strengths and skillsets to the table. Trouble starts when egos get wounded and collaborators are unwilling to give up control of certain aspects of the project. A well-defined and documented plan, like the one outlined above, will help.
Keep in close touch with your superiors. If you’re representing your company in a collaboration, let your supervisors know how things are progressing. Keep them in the loop, so they can step in when necessary to help ensure the project remains on track.
What other tips or examples do you have to share from your own collaborations or from collaborations you’ve seen? I’d love to read about them in the comments below.
Are You Just Spending Time…or Investing?
09 Dec 2011 Leave a Comment
in Inspirational, Marketing Tags: goals, investing in personal life
December is a time of reflection for many of us, as we approach the end of one year and the start of another. Recently, I ran across a quote from Helen Keller that I thought fit this spirit well, and I wanted to share it with you here.
I will not just live my life.
I will not just spend my life.
I will invest my life.
As you probably know, Helen Keller was an incredible woman who, despite being born both blind and deaf, became an accomplished author, speaker, and activist. She invested her life helping others, and the world was better for it. In her lifetime, she inspired many with her words and actions alike, even earning the Presidential Medal of Freedom from President Lyndon Johnson in 1964.
I like the idea of life as an investment. Unfortunately, in our busy and hectic world, it can be easy sometimes to forget that time is our most precious commodity and that we must do more than spend it. We must invest it in the people we care about, the causes that inspire us, and the businesses we’re working to grow.
So how are you investing your life? And how do you plan to invest it in the year ahead?
Michelangelo once wrote, “The greatest danger for most of us is not that our aim is too high and we miss it, but that it is too low and we reach it.” Make sure you’re aiming high and investing your life wisely.
Every year at our shop, we have a goal sheet that I have the employees fill out. It consists of personal goals, for 1 year and up to 5 years. I also include request for goals for personal growth within their department here at work. What training they would like, where they see there department going and anything else. This has been an amazing way to develop a better understanding of our employees and a bridge for us to support them in there personal life as things come up. It is also an eye opener, for us in the business too, because, truely, when an employee is goal orientated – when they have ideas, they own them and it is so much easier to develop in training and growth within each department, and sometimes further than trying to implement it on my own.
Becky
