In a recent webinar on “Developing an Effective Referral Network,” Buck Bierly discussed how bankers can leverage their customer base for introductions and testimonials.
Here are 10 things Sales Managers can do to support their teams in getting more customer referrals:
- Share with people the research on customer referrals. Greenwich Research says that 67% of business owners are prepared to refer their banker to a friend.
- Make sure everyone has a list of satisfied customers to approach for referrals.
- Identify the right times to ask for referrals-- after they’ve closed a transaction, when the customer expresses satisfaction with the relationship, if they haven’t asked recently, etc.
- Discuss how to position the request. It should be a big deal, not just a throw-away line at the end of a call.
- Share with your team a plan for a typical call to ask for referrals.
- Review the pros and cons of talking about actual prospect names (Dr. Howard, Dr. Fine, etc.) versus a broad description of a target segment (dentists).
- Go over the reasons why a customer might not be prepared to give referrals. Rehearse the responses to common objections.
- Get people to commit to one “satisfied customer” referral call per week for the next 8 weeks.
- Talk about the calls in your weekly sales meetings. Give people a chance to talk about what’s working and what’s not. Publicize any victories.
- Don’t let people give up to soon. They need to ask at least 15 or 20 customers to determine whether this works or not.
You can register for the archived webinar on “Building an Effective Referral Network” three ways: (1) Call Susan Lersch at 610-296-4771 or (2) email her at firstname.lastname@example.org or (3) go to the Training Center section of our secure Webex website at https://mzbierlyconsulting.webex.com and pay by credit card.
Next Live Webinar: “Getting Referrals from CPAs” on January 9, 2012 focuses on building relationships with CPAs to generate referrals. You will learn:
* Which CPAs you should target for referrals
*Why your Value Proposition matters
*What the research shows about referrals
*How to plan for your initial meeting with the accountant
*What you should accomplish in the first appointment
*Strategies for staying in touch with CPAs
For more information go to http://www.eventspan.com/event/2012-01-09-getting-referrals-from-cpas
January 30, 2012 “Branch Manager as lnside Sales Coach and Outside Business Developer” with David Kerstein
February 13, 2012 “Opportunities in Health Care” with Jim Unland