Getting More Referrals?

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If you’re wondering why the image of nice boats at a marina is being displayed, let me explain . . .

“I’d Like (a lot!) More Referrals!”
That’s the most frequently cited comment that I hear when I’m talking with providers in financial services, accounting, law, etc.  It’s a definite issue.  Maybe for you, too?

And why not?  After all, isn’t meeting a prospective client through a referral from someone who knows, likes and trusts you . . . about as good as it gets?  I sure think so.

Why You May Not Be Getting More Referrals

Reason #1:  You’re Not Asking
The most likely reason is that you’re not asking for them!  So obvious.  So true, too.

Reason #2:  No System
You don’t have a system for generating referrals. Referrals don’t happen by accident.  That’s why many people aren’t getting the quantity and quality of referrals they want on a consistent basis.

Reason #3:  No Skill
You have a system but you’re not skilled enough to be effective using it.

OK, So What’s with . . . The Boats?
Great question!  In our Preferral Prospecting System® — it’s like a referral, only better — we show you how to create a referral system based on four (4) elements:

Profile … of the ‘Ideal Person’ you’d like to meet
Source … of the Preferrals you’d like to receive — e.g. a ‘Center-of-Influence’
Method … the means for making your sources produce Preferrals
Plan … the coordinated schedule of actions that will generate the Preferrals you want

PROFILE . . . is based on a few observable characteristics . . . that correlate highly with the kind of people who truly understand what you do, value the benefits you offer and are willing and able to pay you a ‘fair’ price to enjoy them.

Some examples . . . “a CPA” . . . “a parent with children in private school” . . . “a homeowner” . . . etc.  The key is to choose a characteristic that doesn’t require someone to be psychic or make a subjective judgement that someone ‘needs’ whatever benefits you offer.  And that’s why we have those ‘boats’ in today’s post.

One of my clients, a financial advisor, has found that asking, “Do you know anyone who owns a big _ _ _ boat — 42′ or bigger that is kept at a marina on Long Island Sound?” is the ONLY profile characteristic he needs to use to gain an introduction to someone who is most likely to understand, value and afford his services.  See how that works?

KEY POINT:
Developing a PROFILE of your Ideal Client, based on observable characteristics, is a key element in creating a system for generating more and better referrals for your practice.

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Do Good, Feel Good . . . BEFORE Christmas!

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Occasionally, far too rarely actually, I come across a truly brilliant marketing campaign that benefits not only the marketer but everyone else involved.

Enter . . .  the Fourth Annual Holiday Feed It Forward™ campaign of Restaurant.com:

Here’s the Deal . . . 
Each year around the holidays, Restaurant.com enables anyone to ‘give away’ $10 Gift Certificates to anyone they like . . . as a gift . . . absolutely FREE!

How / Why It Works . . . 
Restaurant.com is a firm that helps roughly 18,000 restaurants generate customers. It does this by allowing people like you and me to buy its ‘gift certificates’ at a discount and these 18,000 restaurants honor the ‘face’ value of each certificate.  The restaurants get more traffic, consumers get a good value (and, hopefully a good meal) and Restaurant.com gets a nominal fee for each transaction

That’s smart.  Afterall, each participating restaurant only incurs a ‘cost’ of sales (the discount and fee) when this promotional tactic actually pays off.  I love anything that changes the ‘pay now and pray later’ marketing media into one you only need to pay for when it actually works!  That’s what Restaurant.com does — very nicely.

The 2012 Restaurant.com Holiday Gift-Away . . .
For the last four years, to help all the parties in the equation — restaurants and consumers — Cary Chessik, CEO of Restaurants.com has allowed anyone to give a ‘gift’ of $10 to people they know as a simple act of ‘feeding it forward’.

This is altruism and commercialism as it helps Cary’s restaurant clients by putting ‘butts in the seats’ for them.  At the same time, it provides people like you and me with an opportunity to say, “Thanks” to many people in our lives in what may find this is a time that’s more financially difficult for more people than we may ever know.

It’s 100% legit — I’ve used this myself already — and I hope you would use this opportunity to give a $10 Gift Card to up to 40 people each day between now and Christmas.

KEY POINT:
Marketing makes a difference in the lives of people by connecting us all.  Use this ‘Feed It Forward’ opportunity to do the same with people in your world . . . all you’ll feel is good . . . and appreciated! 

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The Secret of a Great Review

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One of my Duct Tape Marketing colleagues, David Smith from Boise, ID and I were kicking around ideas on how to get and craft a good review — to support local marketing — a program David’s delivering to a group of Idaho business owners.

My input, while not the most academic, may be of some help to you as you consider the same issue:

Be Real . . . Be Counter-Intuitive . . . Start Off Negative
I find that ‘glowing’ reviews, i.e. overly positive are dismissed more quickly and easily than clients will like.  An idea I picked up from a friend and colleague, Sean D’Souza is:  “Lead with a negative”.  The CREDIBILITY of what follows is so much greater and it won’t seem like it was written by groupies on drugs stalking their favorite rock band.  e.g.
“When I first heard about ‘Duct Tape’ Marketing, I thought, “What The Heck?”  Then, I thought, “Oh boy, here we go again!  Just gonna be another BS way of saying what everyone else is saying we ought to do only they’ll charge a lot more for it.”

That’s real.  It’s what your prospects are probably thinking.  So JOIN the conversation in their heads and THEN . . . bring them to know something you know that they probably weren’t thinking about . . . eg. “Well, BOY, WAS I WRONG!  Dave Smith, the local Duct Tape Marketing consultant met with me and my team last week and I had to say, “Wow” . . .”  

See what a credible impact that makes vs. a sugar-coated, lop-sided but utterly bland compliment that doesn’t stand out in a meaningful way?

Be Specific!
The other thing I believe is important to include in a review is SPECIFICITY of a VALUED OUTCOME.  The luke-warm (i.e. ‘safe’) comments are useless because they sound like what everyone else is saying.  e.g. “ABC’s food tasted great and the service was good.” (Well, I’d sure hope so!)

You’d be better to focus on a specific ‘outcome’ enjoyed from using (consuming) your product or service –e.g.  “We used to have WWIII on our hands trying to get the kids up in the morning.  Now, thanks to Tasty Chew Cornflakes, our kids are waking US up to make sure we’re in the kitchen for breakfast!  Kind of refreshing, actually.”

Help People Give You a Great Review
It’s always helpful to end a review with a RATING and a CALL-TO-ACTION.  Let your reviewers be your promoters — e.g.  “Overall I’d give these guys a 9 out of 10 (and I never give anyone, anywhere a ’10’)  so the next time you’re hungry in the KC area and the family wants to go out for a bite, be sure and put Oklahoma Joe’s on your ‘short list’ of ‘must-know-gotta-go’ places and get yourself a REAL pulled pork sandwich for a change”.

NEVER ‘Write’ Someone’s Review  
You do, however, want to explain the ‘structure’ and provide an easy way to invite them to ‘bullet point’ their key points.

You may want to say, “Hey, can I write-up what I think you just said to me . . . and see if you approve the copy or would like to make some edits?”  That’ll work every time!

KEY POINT:
People love being editors vs. writers.  If you make their ‘job’ easier, you’ll make your reviews even better.

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6 Questions to Ask Every Client (#5)

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In The Last Year . . . Have You Referred Us to Others?

There’s an old adage, “Actions Speak Louder Than Words”.  I like this one, too: “Clients Vote With Their Wallets”.  Both are very true.

The value of knowing that your clients are referring you to others / others to you is a SYMPTOM or EVIDENCE of how well you’re performing for your clients and how committed your clients are to you.

No business will please everyone 100% of the time.  But you can assess your performance periodically and use the likelihood of clients referring you as a benchmark of the experience you offer your clients.

Frederick Reicheld, a partner in the prestigious consulting firm Bain & Company, developed what he calls the Net Promoter Score.  This is a metric reflecting the overall effect you’ll enjoy (or, suffer!) based on how many of your clients will (net of those who won’t) promote you and your business to people in their networks of influence.

KEY POINT:
Learn your Net Promoter Score . . . and make it move ever higher! 

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Promises, Promises . . .

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“Let’s Shake On It, Then!”
Businesspeople make promises to their clients.  It’s what we do.  Unfortunately, the expectation of many (most?) clients is that a promise is likely to be broken.

You Need a SYSTEM
If your reputation for ‘keeping your word’ . . . or, promises . . . is so important but it seems to be the exception (not the rule) that businesspeople will break more than they make . . . you have to ask, “Why?”.  The answer is not that they meant to break their promise, but that they don’t have a system in place to make sure they keep them!

Make a Promise . . . “Write a Check”
If you’re in a service business . . . where the client’s buying your ability to ‘come through’ as you promise (and, your client expects) then you need a deliberate way to ensure that happens . . . consistently.  My suggestion?  “Write a check”.  Literally.  Not on your bank.  On your time!  Think of a ‘check’ as a written evidence of your commitment to your client’s happiness . . . with you.

When you make a promise . . . WRITE A CHECK to demonstrate your commitment to ‘cash it’ with your customer or client.  Here’s an example:

Is this SCARY?  You bet it is!  Especially if you’re not committed to deliver.  This is a huge ACCOUNTABILITY tool.  But, if you’re as good as you say you are, it’s a NO BRAINER, isn’t it? Actually, it’s going to help you to DIFFERENTIATE yourself and your practice!

NOTE:  If you’d like my Special Report on how to set up a ‘Promise Checkbook System’ . . . shoot me an email and I’ll send it right back!

KEY POINT:
You make promises every day . . . give people evidence of your commitment and watch your competition shake in their boots! 

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Social Media Revolution 2011

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You know of facebook and Twitter and LinkedIn and Biznik and that there are (literally!) hundreds of social media sites and networks.

You are also likely to have a ‘profile’ on them, too.  But, do you know . . . WHY?

Check out this 2 minute, 35 second video for a very compelling answer!

All the social networks do is help you become “part of the conversation” . . . that’s happening in the heads of your prospects and key people . . . right now.

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Lunch and EARN!

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Thriving in a Difficult Economy?
In case you missed it, the last 3 years have been tough.  The stock market crash in ’08 and the weak economy since then have made staying in business a challenge.  So how then does a business actually thrive in such times?  Is there a secret?

Reston Limousine Figured It Out
In 2008 Reston Limo and Travel, a Virginia limo company, was seeking a way to remain viable and (hopefully) profitable.  Like many firms, Reston Limo and Travel needed more sales.  That’s when Kristina Bouweiri, the CEO decided to implement a novel idea. She started taking her best customers to lunch.

Client Appreciation Event — “Let’s Do Lunch!”
Kristina selected 250 clients whose past business suggested significant and profitable future opportunities.  These clients were then invited to a client appreciation luncheon to thank them for their past business.  To create urgency, only 50 people would be accommodated.  All seats were taken quickly.

Alliances Were Key
Once the luncheon was set, Kristina solicited other firms to help share the cost — in exchange for being a sponsor and gaining prestigious access to these top decision-makers.  Eventually, these sponsors promoted one another to their respective clientele — thus leveraging the  relationship capital inherent in the sponsors clientele.

Lessons Learned
One discovery was that ‘price’ was not a significant factor in determining which company would be hired.  However, ‘reliability‘, was.

Kristina also learned that different people in the same company hired a limo company independently of one another.  That prompted Kristina to find and support a ‘champion’ in each client company who would help raise awareness of and preference for her company within that client firm.

Valuable bonding with clients, marketing insights and aligned actions resulted from these luncheons.  So much so that they’ve become a monthly event for the last 2 years.  Why?  It’s WORKING!! . . .  to build relationships, revenues and profits for Reston Limousine and Travel.

KEY POINT:
A challenging economy demands a creative response . . . the more you involve your clients AND strategic alliances in your marketing, the better off you’ll be

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Negative Feedback? Oh, Thank God!

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Seriously, do you like to hear a client complain about their experience with you or your business?  I doubt it.  But it does happen.  How you respond to these ‘bumps’ in your client relationship road may help you turn them into marketing gold.

Here are some points to keep in mind to make the most of these ‘moments-of-truth’ that may have gone bad:

Welcome Negative Comments
The expression, “Don’t shoot the messenger” is very true here.  Your client is giving you a GIFT . . . of insight that you may not have known and might never learn . . . except from the symptomatic loss of clients and revenues that a problem may suggest.  Don’t turn off this excellent source of insight that, used properly, can help you build a better business experience and increased client loyalty to your firm and brand.

Respond Quickly and Effectively
Another expression.  “Actions speak louder than words”.  What you DO to recover from a compromising experience speaks volumes more about whether you care about your clients than any boilerplate copy in your marketing collateral.  Use these difficult but important ‘messages’ to show you care and DO whatever is necessary to demonstrate that to your clients and all ‘fans’ of your brand.

A Little ‘BAD’ Generates a Lot of ‘GOOD’
If all you hear are good things about anyone or anything, you’re probably going to discredit the comments and the legitimacy of the firm.  But if you have some not-so-perfect comments made along with positive ones, your credibility factor will rise like the temperature on a July day!  Just make sure any negative information is a small percentage of the total and show that you used the comments to respond effectively.  That . . . is a winning strategy.

KEY POINT:
Negative comments are blessings in disguise — Welcome them and Respond to them  

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WHAT and WHO . . . You Choose!

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Being crystal clear about WHAT your business does and WHO you serve is a key factor in your ability to attract the interest and response of people who could do business with you.

Typically, that’s not common in businesses.  Consider how often you meet someone who tells you what they do and you’re still clueless about what they do and whether you (or someone you know) might benefit from their services.

A business is in one of 4 ‘Clarity Categories’ based on the mission and market it serves.

ZORBA — this firm is completely unclear about what it does and who might care.  When Zorba The Greek’s new boss asked, “What do you do, Zorba?”  Zorba replied, “Hey Boss Man I have 2 hands and 2 feet.  They do whatever they like.  Who am I to choose?”.  Unfortunately, a ‘Zorba’ business is a muddled business and suffers because of it. (Hope you don’t see yourself in this cataegory!)

MISSIONARY — this firm has ‘seen the light’ and is really clear about why it exists — it’s mission is well defined.  Problem is, the firm’s leaders haven’t identified the groups of people who would most likely understand, value and embrace the firm’s mission or ‘beneficial difference’.  A ‘Missionary’ business feels good about why it exists but without clarity on the market segments it can serve profitably, it hurts financially.

Tomorrow . . . we’ll touch on the remaining two:  the Mercenary and the Marketeer

KEY POINT:
Clarity in your MISSION and MARKET . . . is a beautiful thing

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Referrals, Referrals Where For Art Thou?

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You love getting referrals, right?  So tell me, “Are you getting as many as you’d like?”  Most people tell me they A) love referrals but B) want more than they’re getting now.

Can you relate?   If so, I bet “too few referrals” isn’t reflecting a lack of desire on your part.  It’s more likely you lack a SYSTEM for getting referrals. Here’s what a ‘system’ for generating referrals will do for you . . .

Like Attracts Like. No one understands and values what you offer better than your existing business relationships.  Leveraging your existing business relationships is the most effective and efficient way for attracting new ones!

“Trust Me”. With all the hyperbole in advertising, credibility is hard to establish.  But if someone who knows, likes and trusts your client hears your client say your business is ‘The Real Thing’, you’re golden!

“Pay Me”. Yes, that’s correct.  Financial incentive generates referrals better than anything else.  You can do this without selling your soul — just see yesterday’s post for a creative way to generate referrals that is actually socially acceptable for all parties involved.

Control Costs. Whether you offer a ‘free dinner for two’ or a “25% discount” on a future purchase of your products or services, you can establish a ‘cost-per-customer’ you can live with and, best of all, you only pay for when someone (new) is paying you.

KEY POINT:
If referrals matter to you . . . Use a SYSTEM to generate them!

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