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!

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Referral of a Lifetime

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:

 

Referrals

  • 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.

 

Referral-Based Community

  • 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.

 

First Steps

  • 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.

 

Hi-Tech High-Touch

  • 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.

 

A-Level:

  • People that have referred you in the past.
  • This will make up approximately 12%.

 

B-Level: 

  • 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%.

 

C-Level:

  • 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.

 

Social Proof

  • 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?”

 

Resources:

Consulting Gold

Text: 58885  (free download)

Code: Roal7

 

Click to Tweet:

At what point in a business relationship do you start asking for referrals? Find out w/ @TimTempleton_ @newsletterguru https://www.getjimpalmer.com

What is the secret to getting referrals of a lifetime? Find out w/ @TimTempleton_ @newsletterguru https://www.getjimpalmer.com

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