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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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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