We all know that high-quality referrals and introductions are an important aspect of a successful business. So why do salespeople and entrepreneurs not ask for, and receive, more of them? We’ll discuss that in our Thought of the Day. And later, in today’s interview, we’ll talk with Dr. Ivan Misner, a man who has not only mastered referral-based marketing, but formed the company and wrote the book—actually, many books—about it. That and more on today’s show.
Bob’s Thought of the Day
- Exceptional value, plus significant reach, equals very high compensation. So why do relatively few people actually ask for referrals?
- One reason is that we are afraid of rejection. No one wants to feel badly when others say “no.” Yet, it helps if we reframe our thinking. For instance, receiving a “no” when asking for a referral is a small matter compared to someone in a third world country who has to walk miles for clean drinking water.
- Another reason is that we are afraid of appearing desperate. Yet if you understand that you are offering real value, and you handle yourself like a professional, you don’t need to fear appearing desperate.
- The solution: learn how to ask for referrals correctly, and reframe your thinking so you can get past your fear and ask for—and receive—those referrals.
Interview with Dr. Ivan Misner
- The key to success in referral-based sales and marketing is relationships. The way to build these relationships is through the process of VCP:
Visibility—being visible in the community.
Credibility—people trust you because they know you are good at what you do.
Profitability—when you are visible and credible, people are willing to pass on their referrals to you.
- You must take off your bib and put on an apron. It’s not about what you can get, it’s how you can help someone else.
- Networking is more about farming than about hunting.
- BNI (Business Network International)
- Avoiding the Networking Disconnect: The Three R’s to Reconnect