Lowest Common Denominators Archives - Dr. Ivan Misner®
Secrets to Getting Referrals

Secrets to Getting Referrals

Networking groups can definitely help businesses generate referrals.  When attending referral-related networking groups, remember that your efforts should not focus on trying to “close a sale. If you want to get business from the fellow members of your networking group, educate these people about some of the specifics of your business and what to look for in order to refer you effectively. Here are some secrets to getting referrals to consider for educating people in your networking groups:

Train your Sales Force

Do not generalize

I have heard hundreds of thousands of introductions at business networking events in my 20 years of running a business referral organization. Many people, when outlining what type of referrals they want, use the words “anyone,” “someone” or “everyone.” I don’t recommend it. It is also important to remember that if you are in a group that meets weekly, your presentation should focus on something different each time in order to continue the educational process.

Bring support materials

Have something visual for members to view or leave with. Your chances of staying in their minds long after the day’s meeting are increased. A flier about a product sale or a newsletter from your company are good items to bring. You might also bring samples of an item you carry in your store or place of business.

Break your business down into keywords

When introducing yourself, break your business down into keywords. Each week you focus on simply one aspect of your business. In other words, break your business down into very small pieces. What are the words others will use as search terms about your industry? These are your keywords. You may be tempted to use broad approach-listing all the areas your business covers. Instead, consider that your fellow networkers will learn more about you if you explain one aspect of your business weekly at each meeting.

If you want to get referrals from your networking efforts, remember to train your sales force and provide them the support material they will need to find others searching for you based on your keywords. Chances are, you’ll see a noticeable difference in your results.

Lowest Common Denominators

Lowest Common Denominators (LCD’S) in Your Weekly Presentation

When you want to nail a presentation, start by explaining your lowest common denominators, or the most immediate, universal value of your business.

If you can break your business down to its smallest components and focus on just one aspect of your business in your weekly presentations, it works much better than providing a laundry list of things you do, or a vague and meaningless term like “full-service.”

For instance, a real estate agent might do 60-second presentations about first-time home buyers, condos, single-family-homes, investment properties, house flipping, downsizing your home for empty-nesters, buying a larger home for a growing family, the communities you focus your business on, and so forth.

No matter what your business is, you know enough about it to break it down in the same way. If you do a whole series of LCDs over the course of a year, by the end of the year everyone in your chapter will know so much about your business that they can give you great referrals.

When it comes to telling people about what you do, the deeper you go into the specifics the greater your success will be.  In this video, I talk about how to explain and promote your business by breaking it down into its Lowest Common Denominators .

LCD’s

Many years ago, I visited a BNI meeting where I witnessed the absolute best presentation I’ve ever heard at a weekly networking meeting and it was given by a florist who focused on the details of a single rose. Watch the video now to hear the story of what the florist did and said that made his presentation so successful and to learn why specificity is key in talking about exactly what it is that you do.  If you belong to a strong contact network where you give weekly presentations, the more specific you can be in explaining the aspects of your business, the greater your results will be.

If you struggle to come up with talking points about your business at your weekly networking meetings, this video is for you.  I offer a simple strategy for pre-planning your presentation topics for an entire year–never again will you have to wing your presentations because you’re not sure how to describe what you do.

So, what aspect of your business are you going to focus on at your next networking meeting?  Make up a quick list of ideas for LCD presentations right now. Share your list–and your stories of how LCDs worked for you. I’d love to hear about it.  Please share your thoughts in the comments below.  Thanks!

Using LCDs to Explain & Promote Your Business

When it comes to telling people about what you do, the deeper you go into the specifics the greater your success will be.  In this video, I talk about how to explain and promote your business by breaking it down into its Lowest Common Denominators (LCDs).

Many years ago, I visited a BNI meeting where I witnessed the absolute best presentation I’ve ever heard at a weekly networking meeting and it was given by a florist who focused on the details of a single rose. Watch the video now to hear the story of what the florist did and said that made his presentation so successful and to learn why specificity is key in talking about exactly what it is that you do.  If you belong to a strong contact network where you give weekly presentations, the more specific you can be in explaining the aspects of your business, the greater your results will be.

If you struggle to come up with talking points about your business at your weekly networking meetings, this video is for you.  I offer a simple strategy for pre-planning your presentation topics for an entire year–never again will you have to wing your presentations because you’re not sure how to describe what you do.

So, what aspect of your business are you going to focus on at your next networking meeting?  I’d love to hear about it.  Please share your thoughts in the comment forum below.  Thanks!

 

 

 

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