10 Tips to Increase Your Referral Ratio

| Total Words: 1077

Tip # 1
Discipline Yourself to a Routine of Asking

Heres something profound. The reason most of us do not get referrals on a routine basis is because we do not ask for them on a routine basis. Well, its almost that simple. What would be the upside on your year-end W-2 if you asked for 2 referrals from each of your new customers? Lets say you average 6 sales per month. That would be 12 referrals per month or 144 per year. Conservatively, you close half of those warm leads. Multiply 72 by your average revenue per sale. Then calculate your commission percentage off the total revenue sold. Now ask yourself if you can afford not to ask for referrals on a routine basis.

Tip # 2
Develop a process to Set the Stage

Asking for a referral is one thing, but how many times do you actually get one? Execute a Powerful Routine after you sign up a new customer, and request permission for 3 additional minutes to get their professional feedback. Ask a series of questions soliciting their opinion on ways you can be more effective with your sales process, from initial contact to point of sale, with individuals in the same industry and parallel titles. You are now...

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