|
by Joanne S. Black
Fuel for your business
Build your business
through referrals
The Internet and other breakthroughs in technology
have fundamentally changed the way in which most
businesses operate. New business models are in
place; new technology is created at warp speed;
and purchasing and supply-chain management are
handled online. These changes make it possible
for companies to conduct business faster than
ever. In turn, customers expect immediate decisions,
which places further demands on companies to act
and react quickly.
This cycle of ever-increasing speed and sophistication
creates an intensely competitive marketplace.
Ironically, whether a business is ultra-high tech
or low tech, the most important business decisions
a company makes are still based on personal relationships.
With whom would you prefer to do business — via
a cold call with someone you’ve never met or with
a colleague with whom you have an established,
respected relationship?
If you think you can substantially build your
business by cold calling, think about the value
of your time. The new business climate demands
that you make the most of your time. How many
cold calls do you or your team make to close a
deal? Chances are, it’s not a healthy ratio. Cold
calling isn’t an effective use of time. It’s a
tactic, but a part of a limited strategy.
Expand your strategy
Bring your business network into your plans for
success. At your fingertips is a catalog of established,
trusted clients and colleagues; people who, if
asked, might just be your next sales or business-development
leads. Sell through referrals!
Think about the radical difference in calling
people who’ve never heard of you versus calling
people who WANT to hear from you because your
established client has placed an advance call
on your behalf. These potential clients have been
given the heads up that you are a viable, valuable
connection. They are expecting and looking forward
to hearing from you.
Dispel misconceptions
So if targeted referrals are such a strong and
successful way to build business, why are people
still doing cold calling? The answers run the
gamut: It’s not the right time to ask their
colleagues; they’re afraid of being told
no; the approach might come across as too “salesy.”
Dispel these misconceptions. Dispense with your
fears. Energize and strengthen your business development
process by calling on targeted referrals.
By taking a proactive approach to building your
business through referrals from trusted clients,
colleagues, and professional contacts and organizations,
you are engaging and working the network. By calling
on referrals, business decision-making time collapses,
your competition fades into the background, and
you establish immediate credibility.
The relationship closes the deal. What’s
to lose except that long list of cold calls?
Check out Fuel cells
to help you get started!
back to top
Fuel cells
Get started with your
targeted referral process by planning how you
want to spend your business-development time.
- Build your referral contact list; think about
the people you know and whom they might know.
- Carefully define your target clients —
those with whom you really want to work.
- Clearly articulate ways you differ from your
competition.
- Test your positioning with others and incorporate
their feedback.
- Dedicate time to proactively asking for referrals.
- Track and measure your referral business.
- Thank those who give you the referrals.
Focus your efforts
on activities that give the highest payoff.
- Be prepared by getting to know your client’s
business.
- Know the marketplace and your competition.
- Build your network with people who can be
reciprocal sources of referrals.
- Position your product or service as “need
to have” versus “nice to have.”
- Demonstrate how you can increase revenue,
lower costs, and increase profitability for
your client.
- Stay motivated by following valuable leads
— but know when to call it quits.
Position yourself
as the expert.
- Position your product or service in terms
of benefits, not features.
- Narrow your focus; don’t say you can
do everything.
- Prepare a variety of compelling ten-second
introductions.
- Join a business leads or networking group
and become an active member.
- Write articles for professional publications
and give presentations to industry and civic
groups.
Remember, the most energizing and exciting elements
of sales work are our relationships and interactions
with clients. We like learning about a client’s
situation and matching our solutions to their
needs. In an era dominated by ever-expanding technology,
the creative, strategic part of our business is
back. Yes, it requires brainpower. But isn’t that
what we love about what we do? Indeed.
back to top
Fuel for your soul
“You can’t fax a handshake; you can’t
pat a voicemail on the back; you can’t tickle
a voicemail; you can’t have lunch with an
email; you can’t fax a pillow fight; you
can’t slow dance online; you can’t have
coffee with a website; you can’t smell homemade
bread on your pager; you can’t email a kiss.”
— from a Southwest Airlines Commercial, fall
2001
back to top
|
