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If Referrals are so great, how come there is so much passivity out there when it comes to referral based sales training and philosophy! Life is too short and your Sales Forecast is too important to wait for referrals.
The only reason to wait for referrals to ‘happen’ is fear and fear is your greatest enemy in sales . Yes, you need to be aware of the risks when being a pro at referral based sales, but, don't allow risk to create paralysis in your prospecting efforts.
The phone is only your friend, as a salesperson or sales leader, when YOU are proactively using it to make appointments happen.
Salespeople and sales organizations need to develop a bigger referral mindset and then use that mindset to fuel massive action in their prospecting pipeline.
If you are a Sales Leader this post is even more important because the bad training about referrals out in the marketplace that is infecting you and your sales team, both in the mindset and execution, is making your job far harder and less lucrative.
Life is too short...
To be trapped by the awful concept of 'earning' referrals from your clients/referral sources and sitting around waiting for the phone to ring. Your clients/referral sources won't refer you (in almost all cases) if they don't like/know/trust you so don't focus on that. You won't be able to measure when they are ready, by that standard, until after it has happened and then how will you keep the momentum going predictably?
Be likable, trustworthy and knowledgeable, or, choose another form of prospecting!
Related: The Big Boys Are Coming: Why Advisors Must Innovate Now!
Life is too short..
For you to rely upon other people to decide your future. When you don't ask for referrals from your clients and referral partners, proactively, after doing research, evaluating your relationship with the referral source, assessing risk and how it affects the effectiveness of the desired referral you are a victim of your own design.
YOU are the sales rep! YOU are the Sales Leader/Manager, VP of Sales! You were hired to create, to DO...don't be passive. You need to ask, you need to figure out WHO they know and HOW you could be introduced as easily and low risk as possible.
Referrals are based upon relationships. Implement some self-leadership and take massive action within current and new relationships. Don't wait to see WHO is willing to refer...get out there and find them. The one's that would refer you later on without asking will almost always be willing to do it NOW when you ask them.
Life is too short...
To rely upon surprise referrals. How are you going to crush your sales quota (or, for leaders to ensure you keep your CFO from killing you after missing your sales forecast) if you can't forecast the results?
Do not get me wrong: I love surprise referrals...you know, the ones you didn't ask for and that just drop into your sales funnel. They are freaking awesome and make me feel really good...but, they aren't frequent enough, to predictably fill your Pipeline and reliably move through your Funnel. I have found over the years that Hope is an ineffective strategy when discussing your sales forecast with your Manager.
Life is too short...
To expect your Sales Manager/Leader to trust you to build your business by referral if you don't have a plan and metrics they can see and manage ?!? Referral based sales requires sales skill and continual learning. You not only need to be able to do the "Challenger Sale" on your own, you need to be able to tell a story that creates introductions to prospects that wouldn't ever take your call...except through a personal referral.
Summary:
Be Active! Don't sit back and hope that referrals come to you because you 'earned' them. Create some appointments in your calendar to talk with great clients and past referral sources and ask for their help. Don't wait! Referral based sales is the best way to grow sales, but, it won't produce to its potential if you don't make it happen.