Put Referrals to Work for Increased Sales

No More Cold Calling
Put Referral Selling
Into Action!

Joanne S. Black
joanne@nomorecoldcalling.com

Welcome. I’m Joanne Black.
• America’s leading
authority on referral
selling
• Author of No More Cold
Calling™
• Over 35 years in sales
and sales management

© Copyright Joanne Black : All rights reserved : www.NoMoreColdCalling.com : 415-461-8763 2

Joanne’s Point of View
Don’t be a follower
• The sales landscape has changed
• Find your own direction
• Step out and step up


Referrals Apply to All Sales
• Enterprise
• Professional services
• Small- and medium-size businesses
• Business-to-business
• Business-to-consumer
• Job seekers


We’ll Discuss:
1. The unlikely definition of a referral
2. Why referrals are gold
3. The 5 steps to build your referral
business
4. The 3 referral traps to avoid


Double Your Sales Revenue
Your goal is to expand your referral network.


Your Biggest Sales Challenge
Most sales professionals say their biggest
business development challenges are:
• Getting the meeting at the level that
counts
• Converting prospects to customers


• There’s no such thing as a warm call
• A call is either cold or…


HOT!


Referrals Are HOT Calls
Referred prospects know us and expect our
call.


Referred Prospects
You receive an introduction!


Why Referrals Are Key
When you receive a qualified referral
introduction, think about what happens…


Why Referrals Work
• You arrive pre-sold
• You’ve earned credibility and trust
• Your sales time shortens
• The competition goes away (mostly)
• Your time with clients increases
• There are no “hard” costs


What percent of the time do you get a
new client when you receive a referral?
30%
50%
70%
90%
100%


Most salespeople say more than 50%,
and many say 70% plus
30%
50%
70%
90%
100%


You Need a Targeted Strategy
• Written referral sales plan
• Weekly written referral goals
• Methods to track and measure referrals
• Accountability for results


Do You Have a Targeted Strategy?


What Is Your Answer?


Targeted Referral Strategy
It’s

But it’s not

© Copyright 2011. All rights reserved. Joanne Black : www.NoMoreColdCalling.com : 415-461-8763 19

Referrals Get You The Meeting
Why Executives Meet with Salespeople
• Research from The TAS Group
– Referral from inside their company
– Referral from a trusted source outside
their company


What It Takes
• Make referrals a priority
• Integrate into your sales process
• Establish metrics
• Build skills
• Increase comfort


Priority
The way we work—whether in a team or
one-on one


Ask During the Sales Process

Penetrate Plan/Conduct
Account Meetings

Typical
Implement Sales Propose
Process

Close Present


Sales Process
Referrals are a daily activity


Metrics
How will you measure yourself and your
team and hold them accountable?


Basic Metrics
• Number of people asked
• Number of referrals received
• Number of referral meetings
• Increase in revenue and profits
• Number of new client projects
• Number of new clients


Skill
No More Cold Calling training


Comfort
When will you feel comfortable asking for
referrals?


Big Referral Traps to Avoid
1. Assuming your clients will refer you
2. Forgetting to ask
3. Thinking they don’t know anyone


A New Way of Working
• What is your cost of not making the
transition to referral selling?
• What are you losing or giving up as a
result of this transition?
• What is the cost of doing nothing?


Your Fast Track To Referrals
Register for your monthly Back in
the Black Newsletter and receive
your Referral I.Q. Quiz—your
referral-selling checklist!
http://www.nomorecoldcalling.com/


Go to www.NoMoreColdCalling.com


Referrals Are Gold!

33

Resources
• www.NoMoreColdCalling.com
• joanne@nomorecoldcalling.com
• 415-461-8763
• @ReferralSales


Put Referrals to Work for Increased Sales

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