Stick Like Glue Radio #199
On this special episode of Stick Like Glue Radio, I interview bestselling author Tim Templeton. Tim is the founder and CEO of Consulting Gold and author of the book, The Referral of a Lifetime. Tim shares several nuggets on how to get more profitable referrals in your business. Don’t miss this powerful show!
On this special episode of Stick Like Glue Radio, I interview bestselling author Tim Templeton. Tim is the founder and CEO of Consulting Gold and author of the book The Referral of a Lifetime. Tim shares several nuggets on how to get more profitable referrals in your business. Don’t miss this powerful show!
Main Questions Asked:
- Tell us about the book The Alternative to Cold Calling.
- What are the first steps someone should take in order to generate consistent referrals?
- What is hi-tech high-touch?
- At what point in a business relationship do you start asking for referrals?
- Where do referrals of a lifetime come from?
- How do you identify who in your community is going to be a great referrer?
- At what point does social proof become important or detrimental?
- What are your tips on positioning ourselves to get more qualified referrals?
Key Lessons Learned:
- The overall message is about putting relationships first so you can get into a position to generate referrals.
- A good referral is the second easiest sale you will make.
- Far too many small business owners are ‘knee jerk’ reactive.
- If all you do is ‘ask,’ then that isn’t a good relationship.
- Only refer someone you know you trust and who can deliver.
- When someone gives a referral, they are putting their reputation on the line.
- If people or businesses seem ‘too successful,’ it may look like they don’t need a referral.
- Don’t assume that people know you need referrals; you have to tell them.
- If you are in a B2B marketplace, then your goal is to build a referral-based community.
- If your B2B marketplace is vetted, then you automatically bring more value to your clients.
- If you put your relationship first, you will be positioned to educate your clients so that they know your business is run on referrals.
The Alternative to Cold Calling
- The alternative to cold calling is all about understanding relationships and building a database.
- Your database is essentially people that know, like, and trust you, where you have a personal and professional relationship.
- Take a step back and have a ‘gut check.’
- Understand what is driving you and your business philosophy.
- Know what the lifetime value of your client and relationships is.
- How can you get your relationships to where they need to go?
- Understand the power of relationships and the database.
- Set up technology so it is reminding you when it’s time to reach out to certain individuals.
When to Ask for Referrals
- The education on the referral starts on the day you meet someone and start to talk about your service.
- The language in how you communicate, how your business runs, and how you serve your clients sets the scene for referrals.
- Don’t make people feel as though they are being leveraged for what they can do for you.
Referrals of Lifetime
- Understand our A-level client and know the avatar.
- Educate everyone in your sphere of influence as to what your best type of client is.
- Great referrers are also your colleagues and people who make money when you make money.
- When you start out, there are A’s, B’s, and C’s.
- People that have referred you in the past.
- This will make up approximately 12%.
- People you think would refer you, but you aren’t quite sure.
- You have a good relationship with them.
- They know your business.
- You haven’t spoken about any reciprocity.
- This will make up approximately 17%.
- People that know you and would take your call.
- The process is all about brining C’s to B’s and B’s to A’s.
- This is a byproduct of social media that can build your business.
- Social proof is ‘the crowd’ providing reviews or testimonials, and acts as a referring source.
- Social proof makes you be better business people in real time, as you are getting feedback on what people do and don’t like.
Tips for Getting Qualified Referrals
- It’s always about asking direct questions.
- Choose 5 A’s from your database.
- Call them.
- Talk in terms of yours and their service.
- Ask this question, “Who do you know that I should be talking to about my services?”
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