Successful entrepreneurs know that they are in business not because they are the smartest or the best at their craft, but mostly because they ‘fill a need’ in the market place. They must add value to others in a responsible fashion to remain in business.
In small business, revenue generation is so dependent on our brand, reputation, price, quality, service and good relationships. People have to like you, respect you, and trust you to engage in business with you.
Warm leads via referrals are a goldmine of revenues. Satisfied customer provides that connection, making your job far easier. Did you know that on average each individual knows about 250 people!
Many of whom could well be your Prospects.
So many small businesses complain, ‘I cannot compete with companies that have sales people on their payroll!’
My answer “How many happy satisfied customers do you have? That’s how many (non-payroll) sales people you have”
Your best salespeople are your existing happy customers.
Ensure your customer is entirely happy with your service and has complimented you. This is an opportune time to ask for referral.
So how do you leverage this advantage?
1 At every opportunity, seek good references from your existing customers. “Thank you …That was very kind of you to say that about my service and now I could use advice from you on how to advance my business ….Who do you know… that I should know?”
Happy customers when so asked, usually oblige with ideas and suggestions. Thus obtained, warm leads become excellent Prospects.
2 Ideally get your customer to make the introduction for you “I am sure your friend Jim would be more comfortable if you make the introduction.”
3 Research your Prospect well (via the person who recommends, or online social media and or via other common contacts).
Understand Prospect’s ‘pain points’, his/her ‘needs’. Focus on the ‘hot button’ issues that will draw their attention. Craft and tailor your product and/or services to alleviate their ‘pain’. No canned sales pitches, but customized offering.
4 Size up the Prospect. What is his/her budget, decision making ability, etc.?
5 When communicating whether on phone or in person, no hard sell – Listen more, talk less. This art is called ‘selling with your ears’. This is how you ‘get to know’ as opposed to trying to close a sale. People like to buy from people they like, respect, and trust. This is your chance to put the Prospect at ease.
6 Anticipate the possible objections that they may raise in concluding this potential sale. To such objections, be well prepared in advance with your counter.
7 Perception must be that both parties are embarking on a mutually beneficial transaction.
8 Then get together to discuss over details and finalize. “When is it best for you, next Tuesday afternoon or Wednesday morning?”
9 With all the research and prior preparation, you can put the Prospect’s concerns at bay and proceed with the tailored sale.
10 Remember… keep this ‘referred’ customer happy, as he is now the one who will bring in your next sale.
Sales through a warm lead is far easier than a cold prospect. There are so many solid businesses we meet, whose lion’s share of business is through ‘word of mouth’ – They work smarter instead of harder.
Shishir Lakhani