Beyond Referrals Read online

  What Makes You Relevant?

  Sometimes shifting the question just a bit will trigger new ideas for you. Instead of “What makes you different?” answer the question “What makes you relevant?”—in today’s world, in your marketplace, to your prospects and clients?

  If you expect prospects to even consider what you have to offer, especially if they’re already working with someone similar to you, then you have to have the answers to these questions. Even if your prospects don’t ask you what makes you different, I can guarantee they’re thinking it. So make sure you insert the answer into your conversations with prospects.

  In addition to helping you secure appointments and new business with clients, how you talk about the work you do will also help your prospects and current clients talk about you to others. They often get their cues from you. So there’s a direct relationship between how you talk about your value proposition and how others talk about your value proposition.

  A POWERFUL WAY TO DIFFERENTIATE YOURSELF

  One thing I’ve learned is that of all the things you discuss with your prospects, one of the most powerful is to tell them why you do what you do.

  Science has proved that people make buying decisions with the emotional side of their brain. Logic and reason certainly play a part, but at the end of the day they need to feel good about their decision. So as you ask your prospects good probing questions and then talk about the work you do, you want to make sure that you hit the emotional side of their brain in a positive way.

  Talk about your why. Here are places to look for your why.

  Why did you get started in this business in the first place?

  Why are you still in the business you’re in?

  Why are you excited about your product or service?

  Why do you work for the firm you do?

  Why is it an exciting time for you and your business?

  Here’s an example using my why:

  Let me tell you a little about why I’m in this business. I’ve found that most businesspeople serve their clients well, but they don’t know how to fully leverage their great service and client relationships. There’s a gap between where they are and where they’d like to be in terms of acquiring more high-value clients through referrals and other relationship marketing strategies. I derive a lot of pleasure from opening up people’s eyes to what’s possible and then giving them the tools to make it happen. I’m in the business of closing that gap, and I love it when my clients come back to me to report their great results. I’m hoping I can do the same for you and have you thanking me as well.

  Of course, your words will be different, but you can see how this can bring your passion and belief in what you do into the conversation. When you talk about your why, you will feel the energy in the room (and even over the phone) change. People will listen to you a little differently because you’re hitting them in a different part of their brain.

  ACTION STEP

  Determine your why. Craft a way to talk about it. Practice saying it a few times. Start to use it. And don’t wait for someone to ask you, “Why do you do what you do?” Introduce it into the conversation yourself.

  SELL THE “BENEFITS OF THE BENEFITS”

  Pay attention to this next idea. This idea has helped me transform how I talk about my business. Sales trainer and author John Palumbo (http://www.JohnPalumbo.com) shared this concept with me recently. How can you apply it to your business? “Most salespeople have been taught classic feature and benefit selling. For example, you probably know that if you want to sell someone a computer, just doing a feature dump—obsessing over things like increased processor speed, a low-glare screen, and wireless connectivity—won’t close the sale. You’ve got to engage in a meaningful discussion about the benefits of these features.

  “Does the processing speed make it easier for the user to save and send files that contain lots of graphics? Is the screen easier to read when working outdoors? Does the wireless-connectivity software automatically connect with available networks, so less time is spent troubleshooting connections and inserting passwords? This is how good salespeople transition from features to benefits.

  “But Master Closers don’t stop there. They take the conversation to the next level by selling benefits of the benefits. For example, a feature of a smart phone might be its ability to run word processing and presentation programs. A benefit of this feature might be the phone’s ability to help a prospect update client documents more quickly. Once you’ve established how a feature benefits the prospect, you’re not done. Ask the prospect about the benefits of the benefit. In our example, you should find out directly from the prospect how the benefit of quicker updating of client documents would be beneficial.

  “Maybe this benefit would help the prospect generate greater revenue, improved client loyalty, and more referrals. You may not know exactly what the benefits of the benefit will be until you actually have the discussion with the prospect. Once you do have that discussion, however, you will have begun the process of shared visualization that Master Closers use to win sales.

  “When meaningful benefits are discussed out loud, prospects always experience an emotional response. Your job is to notice that response and dig deeper. Ask your prospect what the benefits of your product or service mean to them. In our particular example you might say, ‘How would the ability to deliver edited files to clients and prospects faster than your competition benefit you and your business?’ Continue questioning your prospect until you both share a vivid mental picture of what that benefit will look like and how it will feel. Then use these mental images to build excitement and close the sale.”

  Never assume your prospect knows the benefits of what you offer. Sales expert Lee Boy an says, “Benefits are not inherent in the product or service being sold. Benefits are in the prospect’s mind. If they are not in the prospect’s mind at the moment you approach, you must put them there or they will not exist for the prospect at that particular moment. Features can exist without the prospect, but the benefits can’t.”

  Art Sobczak puts it this way, “People buy because they picture themselves already enjoying the results of your product or service.”

  I like John’s, Lee’s, and Art’s thinking here. We often talk about features and benefits as we see them, but do we go to the next step and ask our prospects how they see them impacting their life and business? That’s the “benefit of the benefit.”

  ACTION STEP

  Create three columns on a piece of paper or word processing document. Column 1 is for product or service features. Column 2 is for the benefits of those features. You may have already done this exercise a dozen times. Now, as John says, go the next step. In column 3, specify how you would ask your prospect to elaborate on the benefit of the benefit. What words would you use? Giving some thought to what your prospects might say will help you in crafting these questions.

  BENEFITS OR TRANSFORMATIONS?

  Lately, I’ve shifted from talking about benefits to talking about transformations. Perhaps it’s an argument of semantics, but what do people really want? They want to transform their situation. You’re reading this book because of the possibility of transforming (increasing) your sales production through referrals.

  I often talk about taking people from point D to point T. What do I mean by that? Point D is “dabbling in referrals.” Point T is a “thriving, referral-based business.” That’s the transformation I strive to provide to everyone with whom I work. The benefit of the benefit, as described in the previous strategy, is often the transformation people seek.

  What transformations do you provide to your clients? From where to where do you take them? Talk about where they are now and where they can be. That’s transformation. List your benefits and then see what your ultimate one or two transformations are. Start talking about the transformations you help your clients with. You’ll see how they respond just a little better and with more interest.

  ARE YOU USING YOUR CLIENT ATTRACTION STORY?


  Bill Whitley, in his book Art of the Rainmaker, teaches a great strategy he calls “Your Client Attraction Story.” Since all buying decisions are made from the emotional part of the brain, and stories impact that part of the brain, a Client Attraction Story is a very powerful tool that you should use in just about every sales scenario.

  Here is an excerpt from Art of the Rainmaker that explains what goes into your Client Attraction Story …

  Five Parts of Your Client Attraction Story

  Everyone loves a great story. That’s why we enjoy movies, books and TV. The classic story format has five main parts. Think back to the stories and fairy tales you were told as a child. When your parents or grandparents read you a bedtime story I’m sure they sounded something like this:

  1. Once upon a time there was a hero

  2. Who had a reason to go on a journey

  3. Where he/she/it met a huge challenge

  4. To which there was a hero-inspired way out

  5. And they all lived happily ever after

  Client Attraction Stories (CAS) have the same five key parts. Let’s take a look:

  1. Once upon a time there was a hero … In a CAS one of your clients is always the hero. This is where you introduce that client and provide a little information about their situation.

  2. Who had a reason to go on a journey … In a CAS, the journey is simply the goal that client wanted to achieve. It’s the quest—that one elusive thing they were trying to achieve.

  3. Where he met a huge challenge … The client ran into an obstacle (the problem that needed solving). No matter how hard he tried, something always held him back.

  4. To which there was a hero-inspired way out … With your help the client overcame the obstacle. This is the most important part of the story. Identify what steps the client took to overcome the obstacle and how you helped in the process. This is where the learning takes place. The obstacle would have been insurmountable had the client not taken the right action (with you involved in that, of course).

  5. And he lived happily ever after … Thanks to the solution you helped the client implement, his life changed for the better. It usually involves increased revenue, increased profit, an efficiency gain, or prevention of a problem.

  Story Themes

  Some people find that it works better if they have more than one Client Attraction Story in their arsenal. Having several stories memorized, perfected and at their fingertips ensures that they have a story to fit any circumstance that they encounter. Five themes behind the Client Attraction Stories:

  1. Why me: Focus on your integrity, commitment and follow-through.

  2. Growth: Focus on increased revenue and market share.

  3. Efficiency: Focus on increasing profit and saving time and money.

  4. Buy right: Focus on making the right decision and offering good advice.

  5. Protection: Focus on preventing problems.

  ACTION STEP

  It’s time for you to craft one or more Client Attraction Stories you can introduce into your conversations with your prospects.Think of all the results you’ve helped your past and current clients achieve. Apply the story formula to these case studies.Then work on telling a succinct but compelling story. Create more than one so you have different stories to fit different sales scenarios. Just like your why does, a Client Attraction Story hits the buying side of the brain and moves your prospects to like you, trust you, and want to do business with you.

  THE MONEY CONVERSATION

  While your price or fee is not the only thing your prospects take into consideration when thinking about working with you, it’s always a factor. And working through referrals usually relieves some of the price pressure. Do you ever struggle with quoting your fees or get a lot of price resistance? This is a common challenge for many business-people. Here are a couple of strategies I’ve been using for quite some time that have helped me make more sales and have taken pressure off my fees and prices. I call it the “money conversation.” Sales trainer Brian Sullivan (http://www.PreciseSelling.com) calls it being a more effective “financial presenter.”

  Let’s See If This Makes Financial Sense

  I got this from Brian Sullivan, and it really helps me get into the money conversation with ease and effectiveness. As I see that my prospect is forthcoming with information and is asking me questions that show genuine interest, I know it is time to talk money. I don’t like to talk about money in the first few minutes of the conversation. I know I need to build the client’s perceived need for the solutions I provide. I also know that, at some point, if we’re not in the same financial ball park, there’s no point in even playing the game.

  So I’ll say, “George, it sounds like you have some interest in what we offer, but I know you need to make sure it makes financial sense. I have a few questions that I think will help both of us see if the economics are going to work for you in this important decision. Can we go down that path at this time?” In my case, I have to help prospects determine if what they invest in our referral programs or training tools will deliver a significant return on their investment. The good news for me is that it always does, but I need their help in helping them see this for themselves. This strategy is the perfect way to enter into this money conversation.

  Are We in the Ball Park?

  Sometimes prospects will tell you their budget right away. Many won’t. They are usually afraid you are going to come back with a proposal that fills up their budget just because they told you that amount. When I have prospects who are reluctant to tell me their budget or aren’t clear on their budget, I give them some ball-park pricing to test the waters, therefore allowing me to work on a proposal that is more likely to be accepted.

  Here’s a sample conversation that brings this concept to life:

  ME: George, for me to prepare a proposal for you for a program that will create a great return on your investment, I need to have a sense of what you’re willing to invest. Giving me a ball-park amount will help me determine (1) if we can we help you accomplish your goals and (2) how we can go about implementing your training program. Can you give me a sense of your budget?

  PROSPECT GEORGE: I don’t really have a budget at this time. Why don’t you show me something, and we’ll proceed from there.

  ME: I’d be happy to show you some templates of how we can help you increase revenues by acquiring more clients through referrals. But I don’t want to come in with a plan that doesn’t even come close to making economic sense. We have three basic levels of programs. They range from about $3,000 to $40,000. As I craft a proposal for you, can you give me a range to stay within?

  PROSPECT GEORGE: Well, I know we won’t be able to go over $10,000, so can you present me with something that will work and that falls in that range?

  Now, I may still present other options with more value at the higher price range, but I’ll lead with the option in the range my prospect has provided.

  Chevy-Buick-Cadillac

  Here’s a method I’ve used for years. (Fees given below are purely fictitious.)

  George, before I work up an action plan, it would help both of us if I had a handle on your budget for taking care of this issue. Let me put it in terms of three levels of solutions, each one being more comprehensive than the next.

  Our “Chevy” solution is the most basic. It’s possible it will be all you need to fix the problem, and the fee for that solution usually runs between $5,000 and $10,000.

  Our “Buick” solution is more comprehensive and usually runs in the range of $10,000 to $20,000.

  And our “Cadillac” solution is the most comprehensive—and the most popular I might add. For your situation, I expect this to run in the neighborhood of $40,000.

  Brian Sullivan makes an important point about quoting your price or fee: “As you present your price or fee, don’t change your body language or tone of voice. If you show reluctance, hesitation, or any sign of a lack of confidence, your prospect will detect this. It c
ould break trust or cause your prospect to go for a lower price.”

  Take a look at how you are talking about money in your conversations with prospects. Are you willing to address it head on—over the phone or in person—or do you take the wimpy approach and always have to lead with it in writing? Can you apply this strategy of creating a ball-park range of the client’s budget so you know if it’s still worth pursuing the sale and you come in with the right plan and pricing?

  BOURBON CHICKEN?

  Just about every mall in the United States has a food court with a Chinese food vendor. If you get anywhere within about 20 feet of it, you will run into one of the vendor’s employees holding out a piece of chicken on a toothpick and saying, “Bourbon chicken?”—meaning, “Taste this, you’ll like this, and don’t you want to buy this bourbon chicken?” Invariably I’ll taste the sample and say to myself, “That’ll do.”

  The free sample is an age-old marketing strategy. It’s probably been around as long as people have been selling things. How can you use this strategy in your business?

  At Referral Coach International, we have a free e-mail newsletter (http://www.ReferralMinute.com) and are always offering free reports, webinars, and many other tools that bring value to our prospects and clients. We know that when people taste what we have to offer, many will want more and will buy from us.

  Ramon is a financial advisor on Long Island, New York. He was trying to earn the trust of a CPA so that she would refer some of her clients to him. This courtship went on for almost two years. Finally Ramon told the CPA, “I’d like to put you through the process I put my clients through. I don’t want you to become a client. You may even beg me to work with you afterward, but that’s not going to happen. I only want you to experience the value I bring to people so you will feel comfortable introducing your clients to me when the time is right for them.”