TimFrisch.com

Archive for the ‘Referral Marketing’ Category

If you’re new at building sales through business referrals or would like to transition from making cold calls (or other sales methods), then read on.The whole mentality of a referral based business is totally different from any other way of selling. It breaks down most barriers of the selling process, in fact, it changes from you selling to your customers to them wanting to buy from you. A whole different level arises, loyalty is now present, it becomes more of a “business friendship” rather than a long distance non-relationship.

It’s not fun or productive contacting someone that you don’t know, trying to get to the decision maker, leaving voice messages, sending an email that may be picked up by a spam filter, etc, etc. A sales person’s biggest asset is time. Not to sound like a nagging sales manager, but how are you spending your time? If you are going to build long term relationships, a long term career, and my favorite, having fun (well OK making money too), you have to think of your time as a long term, day by day investment of time.

OK how do I build a referral based business you ask? Well, there several ways to approach it. We need to adjust our way of thinking and find alike individuals (buddies) to partner with. Let’s say you’re in the real-estate sales, you could network (partner) with mortgage companies/brokers, builders, etc. It’s good to be a compliment by adding value and able to provide referrals to other sales people in a similar industry. Although, you don’t have to be in the same industry, you can partner with pretty much any sales person. Most sales people have customers that could easily have a need for what you sell.

Another way is to use networking groups, chambers of commerce, specialty type business meetings and much more. By spending a short amount of time with other sales people you can uncover many things that you would have never known. You have to remember these people are there for the same reason as you are, to build business! You don’t have to try and sell them on anything. You are there to SHARE referrals, and HELP each other. Once you have exchanged business cards and information you have a new business buddy and so do they. This is an invaluable relationship! You are making a true investment of your time here.

Just like money, you don’t want to make a deposit in the bank and wait! You need to follow up with a phone call and or email AND a hand written card. This person is now part of your sales team, just as you are for them! Keep track of your new business buddy and treat them like gold. Remember this is a 2-way street, always be thinking of how to get them referrals. This is a business friendship and when a referral is given to you and visa-versa the highest respect should be for both of you and your referrals. Written by Tim Frisch – www.TimFrisch.com

What is business networking to you? Is it working for you? Do you have any goals when you network? These are questions I’ve been asked in the passed. I’ve always heard, “it’s who you know”, but I think it could be said, “it’s who knows you”. If you you attend a network meeting, what kinds of things do you think should happen? What kind of effort do you apply? If there several attendees and you have only a narrow time window, how can you get the best for you AND for the person on the other end? It goes without saying if you are only concerned about GETTING and not GIVING then networking or partnering might not be for you.

Granted not everyone there may be a great fit for networking with, but there’s a good chance if you can introduce yourself openly, you will identify a few people each meeting, and greatly increase your chances of getting and giving very good results. I found it’s best to greet as many people as possible, then you’ll know (with usually little time to do so) who might be a good first fit then follow up. It seems a little strange to me when sometimes we take the time to get to the meeting, make the effort to meet and greet, exchange cards, go back to the office and never follow up.

Follow up is so crucial in building relationships, after all if we are there to just collect business cards, we probably won’t be very happy with the process and just give up. There needs to be the “full circle” of relationship building, meet, talk, evaluate, and FOLLOW UP.  At that there’s a good chance some relationship building is starting to happen. Without developing relationships from networking,  efforts seems to wasted time to a large degree. There are many ways to follow up, some work some don’t as well. While we are in the relationship building mode, we could always send an email, sometimes works but not real personable, of course a phone is good, but another way that has been effective for me and others I know is sending a post card, after all who expects to get a card, normally no one.  So anytime you’re networking consider why you are doing it and how you can effect other people and how it makes you feel. Written by Tim Frisch – www.TimFrisch.com.