Sales Strategy

7 Steps to Consistent Referral Generation

Understanding your customer or client’s lifecycle and mapping their touch points is the key to generating a consistent flow of referrals.

Referrals happen, thank goodness, but for too many, they happen randomly, almost accidentally.

One of the keys to tapping the systematic generation of referrals is to identify and address the touch points that add up to lead a customer or client to the logical and emotional decision that your business is referable.

Every person, place, and thing in your business that comes into contact with a prospect or a customer or client is performing a marketing function. Your business referability is being decided by the sum total of those contacts.

You may create a referral kit that includes a white paper, article, a link to a webinar or video, or something of value that you show to your referral sources and that you will provide to the prospect. This kit helps your referral sources to understand more […]

How to Get and Use Testimonials, Referrals, and Reviews

One of the most overlooked yet critically important benefits of building a successful business that really serves its’ customers is that people like what you are doing. Maybe some of them send you referrals or give you a testimonial. They might endorse something you are doing or give feedback on new products or services you are thinking about providing. Or, they might not.

If you are doing a good job but aren’t getting the kind of support you need from your customers or clients, there can only be one reason: You aren’t asking for it.

The hair stylist business that doesn’t capture the name, email address, phone number, birth date, wedding anniversary, and children’s names and ages (and remembers to commemorate these dates) for every single client does itself no favors and will always be “accepting people off the street.”

The business advisor who assures himself that someday a CEO will be golfing with another CEO and his […]

What Does Relationship Marketing have to Do with Business?

There are many definitions for Relationship Marketing. Here is one that I found:
“Relationship marketing is a strategy designed to foster customer loyalty, interaction, and long-term engagement. It is designed to develop strong connections with customers or clients by providing them with information directly suited to their needs and interests and by promoting open communication.”

While I can agree with the above it leaves out one very important word. It kind of implies the word somewhat but does not include the actual word and it should for this word cuts right to the heart of the term itself and to the word “relationship.”

The word I am referring to is “emotion.”

The word emotion speaks to that place where few businesses and brands spend time. For just as in any relationship in life, touching on human emotions, preferably the positive emotions, is the key to any happy, healthy, and long-term relationship. How do others feel when they hear your […]

A Networking Idea That Will Increase Business

Start referring your contacts to other professionals and watch your business grow.

When I was just starting my consulting business in 2004, I knew that I wanted networking and referral marketing to be a major part of my marketing strategy. One of the biggest questions I had in mind at the time was, “How do I find the right people and how do I generate referrals for them?”

I have joined a network of local businesses after I was referred to a meeting by another business person in the area. I also have acquired other contacts in the Business and Information Technology arena over the years. I’d like to share with you just one of the techniques I heard someone else use that had a huge impact on their ability to provide quality referrals to others.

Do you want to be the person others come to if they need a referral for anything–the “Go-To Person.”? A person […]

Create Your Own Referral Sales Force

Surround yourself with a network of competent professionals and add more value to your client relationships. Joining referral networks like BNI or local chamber groups can be a great way to help you network and generate referrals. The most powerful way to use this strategy, however, is to grow your own.

Almost any business can benefit from having a group of trusted providers effectively marketing your business like a referral sales force. When you build your own private referral network your business benefits in two very powerful ways: you experience an increase in leads and you have additional resource to bring to your client relationships. In some cases, this second benefit may produce the greatest long-term impact of this approach.
How to build it
The key to building your own referral network is to focus on developing relationships with businesses you can believe in thoroughly. I would suggest that the first consideration should always be – what […]

What Does Your Sales System look like?

Are you a business owner or sales manager with outside salespeople? Are you frustrated with the poor results those salespeople have been getting or their lackluster performance?
Do your salespeople have a sales system to follow?
Once you have a sales system is in place and your sales team is trained, they need activity goals.  Remember, the ultimate goal is to “make sales” and “increase revenue,” thereby, increasing profits.  But there is the “sales cycle” that needs to be addressed.  The sales cycle is the average amount of time it takes to move someone from being a prospect to becoming a paying customer or client.

If you are selling office supplies, for example, the sales cycle may be very short.  Since many of your prospects order office supplies periodically, you have an opportunity more frequently to get their business.

But other industries may have much longer sales cycles.  For example, if you sell computer systems to manufacturers, they […]

How to Improve Your Sales Performance

Are you a business owner or sales manager with outside salespeople?

Are you frustrated with the poor results those salespeople have been getting or
their lackluster performance?

Do your salespeople always seem busy but their results are disappointing?  Whenever you confront them on their lack of new sales, they do a wonderful job of “selling you” on the fact that they have some great prospects on the fence that is about to close!  So you wait.  And you wait some more while they stay busy looking like they are really, really busy.  A few months go by, and then you confront them again. What do they say?  The same exact thing they said the last time and the cycle continues.  And you wait again.  Does this sound familiar? It does to me.

You are NOT alone! They can be like a hummingbird, fluttering from one juicy lead to another without ever landing a new sale.

When I had sales […]

Two More Ways to Increasing Profits in the New Year!

As the year is coming to an end, many companies are thinking about and planning ways to increase profits in the coming year.  If growing your profits is important to you, then this article was written for you!

In this article, I will ask you a series of powerful questions.  These questions are centered on the most basic (and most significant) profit-drivers for a business.  Specifically, the questions will address:

Reducing Costs
Increasing Efficiencies

In answering these questions, it is likely you will get several ideas on how you can grow your profitability in coming year.  Remember, growing profits does not necessarily mean that you have to work harder.  Sometimes, we just need to work smarter.

Here are the powerful questions in each of those areas for you to consider and answer truthfully:

 

Reducing Costs

The cost of labor is usually one of the largest expenses in many businesses. Having a team of superstars that connect with the business mission, vision, […]

Two Ways to Increasing Profits in New Year!

As the year is coming to an end, many companies are thinking about and planning ways to increase profits in the coming year.  If growing your profits is important to you, then this article was written for you!

In this article, I will ask you a series of powerful questions.  These questions are centered on the most basic (and most significant) profit-drivers for a business.  Specifically, the questions will address:

Increased Pricing

Increasing Sales

In answering these questions, it is likely you will get several ideas on how you can grow your profitability in coming year.  Remember, growing profits does not necessarily mean that you have to work harder.  Sometimes, we just need to work smarter.

Here are the powerful questions in each of those areas for you to consider and answer truthfully:

Increased Pricing

 

What processes do you use to determine what prices to increase? Many businesses randomly increase or leave prices the same based on what they think their […]

What will you do when you leave the business?

You may have started your business with the goal of someday selling it and getting a big payoff. You may have started your business because you have a particular skill and wanted to work for yourself. Be your own boss. You have devoted your entire life to making the business be a success, working your tail off, putting in crazy hours and making many sacrifices to grow your business.

One day the reality comes true that you are ready to sell the business and move on with your life. You suddenly realize that your goal had been to take your business to a successful exit and you have no idea what is supposed to come next.

Going Through with the Sale of a Business:

The process of selling a business can be all-consuming. Many business owners spend a large amount of time in researching all the options and negotiating with buyers, not to mention the endless review of legal […]

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