Risk & Business Magazine Nesbit Agencies Fall 2016 | Page 21

TROUBLE GENERATING REFERRALS?

BY: ERIC FRY
MANAGING PARTNER
SANDLER TRAINING

Next, ask your client for permission to use his name when you
make the referral call. For example:
Tom, would you be OK if I tell Art that his name came up during
our conversation?
Ideally, you want Tom to not only give you permission to use
his name but also offer to let Art know that you’ll be calling…or
perhaps make the introduction himself.
USE THE “INNER CIRCLE” STRATEGY
Even if Tom doesn’t set up the call, think about how much easier
it will be to make. This is no longer a “cold” call. You know
something about Art, his business, and why he might be interested
in your commercial insurance program. What’s more, Art is likely
to be more comfortable and receptive to taking the call when he
discovers that his golfing buddy, Tom (someone of equal business
stature, i.e., another business owner) referred you.
Last but not least, think about how easy it will be to get past Art’s
gatekeeper. When he asks, “What’s it about?” you simply reply,
“Art’s golfing buddy, Tom Beale, asked me to give him a call this
morning.”
This “inner circle” strategy will also work with other potential
referral sources, not just clients—even prospects who do not have
a current need for what you have to offer. In that situation, you
can still frame the request around a likely inner circle. Here’s an
example:
Jeff, based on our conversation, it doesn’t appear that I’m going to
be able to help you this afternoon. Perhaps you can help me. Now
that you better understand what I do, I suspect that you may know
another business owner, even a friendly competitor, perhaps, who
could benefit from my company’s insurance services. To whom
should I be talking?
This powerful referral strategy can be used with anyone whose
sphere of influence encompasses people who fit your ideal prospect
profile. You have nothing to lose by asking…and everything to gain.
THE BOTTOM LINE
By using an “inner circle” strategy, Colin was able to rely far less on
“cold” prospecting calls, which he didn’t like making, and far more
on calls generated via referrals from happy customers. These were
much easier for him to make and far more productive in terms of
opportunity development. As a result, his personal bottom line
improved, and he managed to hit his quota for the quarter—a goal
that had seemed all but unattainable a few weeks earlier. +

Eric Fry is Managing Partner with Sandler Training.
Prior to Sandler Training, Eric worked for a number
of well-known, international organizations including
Xerox and Staples Advantage while honing his skills in
sales and leadership throughout his career.