Referrals are like gold coins for business. Going by the definition, a referral is an act of officially sending someone to a person or authority that is qualified to deal with them.
This is exactly why referrals make wonders happen- they have trust, credibility, authority and an opportunity to build a strong relationship.
Did you know that 83% of people rely on family and friends’ opinions to make their purchasing decisions? Not shocking because we do that too! We trust people’s reviews more than some advertisement or commercial.
Hence, it’s extremely vital to tap into your existing customer base, get referrals from them and learn how to convert those referrals to grow business.
Here are some steps you can use to convert your referrals to customers:
1. Personally connect with the prospect
First things first, whenever a client passes over a referral to you, take out some time to personally connect with them. After all, a great first impression will help you put your best foot forward. You can either call, email, text or meet them in-person. Studies suggest that the close rate for face-to-face meetings is 40%. Huge, isn’t it?
Remember, your goal is to find out how you can help the prospective client and if your services are a good match for him or her.
2. Build a relationship
Now, if the referral seems like a good match for your business, take efforts to build a meaningful relationship. You could do this by inviting the prospective client to your office to meet, over coffee, or your company’s upcoming event. Anything that allows them to see you in action, is a wonderful way to build relationships.
Even if the referral doesn’t seem like a prospect, establish a relationship because every referral counts! Alternatively, there must be at least one person in his or her circle who might be interested in your service.
In both personal and professional relationships, asking for what you want and what the other person wants is very important. Doing so builds trust, transparency and helps strengthen relationships. Ask your referral what they are looking for, based on their input, go ahead and pitch your service to them. Keep it subtle and ensure to make the barrier to entry low while allowing the prospect to experience your amazing service.
After that, you can ask for a signed contract or other paperwork.
If the referral converts or not, follow up with them!
Following up with those who don’t convert is necessary to stay top of their mind. As soon as things get straightened up or they get the budget, you’ll be their go-to person. Just send them your newsletter, webinar invites a personal email or call them once in a while to check-in.
And, following up with the ones who convert is also important because clients shouldn’t feel that you’ve forgotten about them after opting for your service. Send them updates, offers, discounts, event invites to keep them involved.
Finally, always remember why you tried getting referrals in the first place- for sales. So put your sales strategy in action after getting a referral. The goal is to convert prospective clients into paying customer through effective interaction.
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