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In an economic climate such as the one we find ourselves in today, to ignore your existing relationships in terms of their ability to refer you to others who might benefit from your services, well… it's bonkers, plain and simple. (Actually, it's a bit nutty regardless of whether the markets are up or down.)
The fact is: No one likes to ask for referrals, and they are rarely provided to those who don't ask. So, what's the answer?
1. Get to know your clients.
Some sales people know their client's favorite team, daughter's name, birthday, handicap, and alma mater. But they have no idea who they know professionally, perhaps a co-worker from a past employer, or perhaps someone they met at an industry conference. If you have no idea who they might refer you to, you're off to a bad start.
2. Keep your clients up-to-date.
When the firm adds a new client, make sure your clients know, especially if the company is one that others have heard of, one that represents some special capability, or one noteworthy for some other reason. People like to refer others to companies they know are thriving.
3. Be specific about who, what, and why.
If you want to meet someone that I know, the fastest way to get me on board is to tell me specifically to whom you want to be introduced, what it is you plan to present to them, and why they might be interested in seeing what it is that you are offering.
4. Use the news.
Keep up with what's happening in the industry… theirs, yours, and others. Send your clients updates on new legislation, or reports that present meaningful data, or industry trends. Watch for conversation starters. At certain times, it may be easier than others for someone to refer.
5. Consider holding a firm-wide contest.
Your department or even your entire firm could hold an annual referral contest that lasts one month. The winner is the person who receives the most referrals from clients. This may make it more comfortable for all involved. You can easily explain the annual contest and that your firm grows largely as a result of referrals, but the contest is only once a year. If you might win a trip or other prize worth working for, you may find contest time is the most wonderful time of the year.
6. Target specific companies.
Instead of asking for a referral to a specific person, try asking one of your clients if they know anyone at a specific company you want to talk to. It's often easier to say yes to making an introduction when someone was going there anyway.
7. Use today's social networks.
Social networks, which only exploded onto the scene a handful of years ago, have come of age. LinkedIn is quite popular with business executives, but there's a lot more to Facebook than first meets the eye. Today, there's an online social network for just about any conceivable group, from accountants to mums with toddlers, to insurance professionals, to movie watchers.
These social networks are free to join and use in almost every case. And it doesn't require any technical abilities to set up your page or use the tools provided. You fill out a page about yourself, and then check out the different groups available… there will be many. Join one that discusses things you're interested in, and join in the discussion. (More about social networks in the section that follows.)
The overriding point is:
Referrals aren't unicorns. They exist and can be yours. You just have to think things out before you open your mouth to ask.
