referral marketing Archives - Page 2 of 3 - Dr. Ivan Misner®

‘More Money Mondays’–FREE Referral Tips to Shorten Your Work Week

At a recent Referral Institute® Conference, I had the opportunity to talk with my good friend (and partner in the Referral Institute), Mike Macedonio, about a fantastic new (and completely FREE) service which is available to businesspeople and networkers across the globe.  It’s called ‘More Money Mondays’ and by signing up for the service you get weekly referral marketing tips delivered to you via e-mail each Monday which will help you learn how to simultaneously build your business and make your work week shorter and more enjoyable.

Watch the video now to get all the details on this exciting new service and CLICK HERE or go to www.MoreMoneyMondays.com to sign up for your FREE weekly referral marketing tips.  If you’re already utilizing ‘More Money Mondays,’ I’d love to hear what you think of the service it provides–please leave your thoughts and feedback in the comment forum below.  Thanks!

The Four-Letter Word That Should Be in Every Networker’s Vocabulary

“Sell” may be a four-letter word, but it’s certainly not a “bad” word . . . far from it.  “Sell” is a word that should be in absolutely every networker’s vocabulary.

 

I can’t tell you how many times I’ve run across businesspeople over the years who are fantastic networkers, but they think that just because they know how to network, they don’t need to know how to sell. They think that people will like them, and then their products or services will sell themselves. This kind of mentality is unfortunate because people who think this way may be leaving business on the table.

Anybody who’s experienced and successful in referral marketing will tell you that sales skills are needed in every part of the referral marketing process–not just in closing the sale with the prospect.

From the very beginning, you must sell yourself to your potential referral source. A referral is not a guaranteed sale; it’s the opportunity to do business with someone to whom you’ve been recommended. You still have to close the deal. You have to make it clear that you know how to sell, and that you can and will provide the products or services you’re expected to provide. If you can’t make that first “sale,” your potential referral source won’t become your referral provider.

Beyond selling yourself to the referral source, you have to sell yourself to the prospect to get that first appointment. Then, once you’ve made the appointment, you have to persuade the prospect to buy your product or service. This is the part that usually comes to mind when you hear the word “sell.” However, in referral marketing, closing the deal with your prospect is neither the beginning nor the end of the selling process. The sales process is all about keeping an ongoing relationship with the client or customer. This is something that the best referral marketers know and understand.

 What are some of the tactics you use to continually sharpen your sales skills and/or ensure that you continually invest in an ongoing relationship with your clients/customers to actively keep the sales process afloat?  I’d love for you to share your thoughts and ideas in the comment forum below–thanks!

Wealth Dynamics with Roger Hamilton

At a recent TLC Conference in Cancun, Mexico, I had the opportunity to talk with wealth expert Roger Hamilton to discuss the Wealth Dynamics system which Roger created to help entrepreneurs achieve ultimate success.  I took the Wealth Dynamics profile test myself and found out my wealth profile is that of a “Supporter,” which I found quite surprising yet very informative, helpful, and enlightening.

In this video, Roger explains how the Wealth Dynamics program can specifically help people who want to build their business through a referral-based marketing program.  Watch the video now to learn about how everyone is different in the way they form connections and how the Wealth Dynamics program can teach you to identify your best way of connecting with others through understanding your individual connection style, and also through pinpointing and understanding how other individuals would like to connect with you.

For more information on Wealth Dynamics, please visit www.WDProfileTest.com where you’ll find a complete explanation of the eight different Wealth Dynamics profiles and more.  If you take the test, I’d love for you to come back and share your results and what you learned from them in the comment forum below. Thanks!

Referral Marketing: Know the Risks, Reap the Rewards

In a radio interview I once did, the host of the program asked me whether I consider referral marketing the safest form of advertising. Without the slightest hesitation, I confidently answered, “By all means, no.” Based on his response, I’m sure he was shocked by that answer.

I went on to explain that I believe very strongly in the tremendous benefits that word-of –mouth marketing can bring. However, there are unique risks associated with referral advertising that are not an issue in commercial or other forms of advertising.

When you give a referral, you give a little of your reputation away. If the business you’ve referred someone to does a good job, it helps your reputation. But if it does a poor job, your reputation may be hurt.

As I said, the payoffs of referral marketing are immense—when it’s done correctly. But referral marketing involves a really big risk: giving away a piece of your reputation every time you give a referral to someone. When you tell a valued customer that a friend of yours is going to take good care of them, you must have confidence in that friend.

But what happens if your friend lets your customer down? It comes back to haunt you. Your customer begins to lose faith in you and, because of that loss of faith, you just might lose that customer down the road. This is why it’s so important to develop strong relationships with those to whom you’re referring business and vice versa. Once those strong connections are forged you can rest easy, knowing when you tell someone a business associate or a networking partner is going to take good care of him or her, that’s what will happen.

Do you have a story others might learn from about a time when referral marketing really paid off for you, or a story about how you experienced the unique risks associated with referral marketing firsthand?  Please share your experiences in the comment forum below.  I’d love to hear from you–thanks!

Speak to Be Heard and Hear to Know How to Speak

Peter Drucker once said, “The most important thing in communication is to hear what isn’t being said.”  This is so true and extremely important because the quality of our relationships depends on the quality of our communications; and when it comes to sales for your business and growing your business through referral marketing, this concept is a cornerstone for success.

Of course, not all sales transactions require incredible relationships or communication (e.g., online shopping), yet even big box stores like Wal-Mart–not known for warm customer relations–illustrate the value they place on communication and relationships by employing a visitor host to greet customers at the entrance of their stores.

Sara Minnis, a friend of mine, has often dealt with a phobia many sales people face within the sales process by coaching salespeople who are afraid of being rejected by a prospect or customer.  She says, “Sales ‘phobics’ might have an unrealistic fear of being rejected during cold calling, during the closing phase, or on a phone conversation.”  This, she suggests, is because the phobic salesperson tends to focus their communication on the emotional fit between themselves and the customer.  She explains, “The real business of selling can’t begin until the sales phobic feels that the prospect likes him or her.”  To avoid this, she says, “The professional seller directs her communication toward finding a fit between her product and the buyer’s need.  Focusing on being liked only enhances fears of personal rejection, while attending to the customer’s needs drives the transaction toward a closed deal.”

Sellers in strong relationships with their clients have a competitive advantage because the client feels connected or bonded to the seller.  The single most important tool sellers use to establish a connecting bond with another person is communication.  In fact, building a bonded relationship is completely dependent on having quality communications with another individual.

The art and science of communication is more than talking and hearing words.  There are many strategies and techniques aimed at earning the right to have your message heard.  If you can communicate at a level that matches the customer’s style rather than your own, you will be well on your way to masterful sales conversations.

Masters of sales today assume more of a consultative perspective to their selling work.  In fact, many box retail stores use the term “sales consultant” to describe the store clerk of yesterday.  Master sales consultants know that their ability to communicate is critical to selling client solutions, because rapport and trust, the cornerstones of selling, are built or lost based on communication.

So what can you do this week to improve your communication skills in order to speak to be heard and hear to know how to speak (e.g., joining a Toastmasters club, reading books like Dr. Mark Goulston’s Just Listen, etc.)?  I’d love to hear your ideas in the comment forum below

Enhancing Your Reputation through Referral Marketing

For those of you who think the referral process is the safest form of doing business, here’s some information that may surprise you . . . the referral process is, in reality, the least safe form of doing business yet it is well worth the risk if you do it right and it can significantly enhance your reputation and contribute to the growth of your business.

In this brief video, I talk about how referral marketing can not only enhance your reputation but can also result in a “win-win-win” situation for you, the person who refers people to you, and for the client who was referred to you and ends up using your products and services.

If you have a story or an example of how referral marketing helped you enhance your reputation, I’d love to hear it so please leave your thoughts in the comment forum below. Thanks!

Movie Producer Barnet Bain: Emotionally-Charged Connections are Crucial to Your Success

Last October, I posted a video I did with referral marketing expert Eddie Esposito on emotionally-charged connections (CLICK HERE to view that video).  On a recent vacation in Bali, I had the opportunity to do this new, five-minute video with movie producer Barnet Bain (producer of the Academy Award winning film “What Dreams May Come”) which is a perfect follow-up video to the one I did previously with Eddie.

Here, Barnet shares his two-step process for unlocking the key to being able to connect emotionally with others in a way that always focuses on helping and supporting them which Bain emphasizes is critical in order for you to succeed in your own business, life, and relationships.

I find this process fascinating and it would be extremely powerful if, after watching the video, you would be willing to share in the comment forum what you learned about yourself upon completing the two-step process and also what you discovered as far as how you might better be able to form emotionally-charged connections with others based on your own unique experience.

To lean more about Barnet Bain, please visit www.BarnetBain.com.

Thierry Mazué: Double Your Referred Buisness

In this video, Thierry Mazué, my good friend and Master Franchisee/Trainer for the Referral Institute in France, talks about two of the eight referral sources in referral marketing and explains how you can double your referred business simply by using two of them.

After watching the video, be sure to visit www.ReferralInstitute.com to learn more about the other sources of referrals and then come back to this site to leave your comments about which of the referral sources you currently use and which additional sources you feel you could begin to tap into.

New Blog Series with Top Referral Marketing Trainer TR Garland!

In this video, TR Garland and I announce the launch of our new, 12-month, BusinessNetworking.com blog series  “Navigating the VCP Process® to Networking,”

TR is not only my good friend, he is one of the top referral marketing trainers in the world and he and I co-authored the #1 Amazon Best-seller Building the Ultimate Network together.  I am really excited to be doing this new blog series with TR because he is in the top 1% across the globe in regard to understanding how to implement referral marketing effectively and this series is going to be a huge resource for people in learning how to understand and  implement the VCP (Visibility, Credibility, Profitability) Process® effectively to produce real, business-boosting results from networking efforts.

Whether you’re a businessperson, an entrepreneur, a novice or seasoned networker, or simply someone who wants to learn, be sure to come back to this site on Monday (2/20/12) which is when we will be posting the first blog in the series! 

So what do you think?  Are you as excited about this new series as TR and I are?  Leave us a comment and let us know your thoughts . . .

Systems and Referral Marketing

It’s International Networking Week and one of the many ways I’m celebrating is by posting this video blog on how to network better and smarter with systems.  In this short video , I talk to my good friend Bertrand McHenry, a Referral Institute Trainer and Franchisee, about how people who develop a system for referral marketing generate substantially more business through referrals.

Watch this video to find out how creating a system for referrals can help you predict the income you will receive from referrals up to 12 months in advance and be sure to check out the International Networking Week video–make 2012 the year you commit to developing a networking strategy and achieving real business growth through a structured referral marketing system!

Making a Mark with Marketing . . . How Are You Making Yours?

Marketing isn’t something I was always confident about.  When I first started out in business, my degrees were in Political Science and Organizational Behavior.  I had very little marketing experience until I went to work for a transportation company in Southern California and, within a two week span, went from a role in purchasing to a significant role in marketing–a huge change that was an even bigger learning experience.

My marketing experience was trial by fire and reading.  I just started reading books on marketing and learned as I went, and it was that experience that gave me enough knowledge to do some marketing on my own when I later set out as a business consultant. 

If somebody had asked me when I was 25 where I saw myself career wise in thirty years, I would have had no clue that my career would be all about marketing . . . that I would be the Chairman of the world’s largest referral marketing organization.  Sometimes we go places in life we never expected to go but I wouldn’t change a thing about the career path I chose.  I am passionate about helping people grow their businesses and achieve great success through effective referral marketing and after spending over two decades devoted to this work; I really enjoy knowing that the work I do allows me to pass on the marketing knowledge and experience I’ve attained in order to benefit to others.

I was recently asked what my top marketing tip would be and I think it’s really all about building the brand–either the brand of the company or of the individual, depending on the kind of business that you’re in.  Name recognition–that’s the biggest challenge, especially for small companies.  It’s not the same for everybody because every business is a little different and people’s skill sets are different.  For me, in my business, brand building has largely been about writing.  Before the internet I was trying to get articles in newspapers and magazines.  Now it’s much, much easier.  In this age of blogs and social media, even small companies have a global reach.  The problem is all the white noise that’s out there: with so many people wanting a piece of the action you have to be able to stand out.  So, for me, the top marketing tip would be to write, write, write.  Become an expert in your field so people want to follow you because when they follow you, they’re more likely to do business with you.

I’d love to hear how you’re making your mark with marketing–what is your top marketing tip for the other business owners out there reading this blog?

 

What Are You Waiting For?

The best referral efforts I’ve seen happen by design, not by accident or wishful thinking.  Many business people view word of mouth somewhat like the weather: “Sure, it’s important, but what can I do about it?”

Referrals and word of mouth can be planned and nurtured.  Anyone, including business owners, entrepreneurs, sales representatives, staff employees, even individuals serving in a volunteer capacity in any field, can accomplish plenty with a well-structured and systematically executed referral plan for a business.

All too often I have seen business people waiting for business to walk through the door.  They think because they are good at what they do, people should be flocking to them. I’m afraid the truth is, it doesn’t work that way! You have to take charge, no matter what business you’re in or how good you are, and bring the business in to you.

I once saw a cartoon strip of two large, ravenous-looking vultures perched on a tree limb, overlooking a dry desert plain. After quite a while, one vulture turns to the other and says, “Wait for something to die? Hell, let’s kill something!” So it is with word-of-mouth marketing. You can’t simply wait for people to come to you. If you do, one of your competitors who also provides good customer service will most likely find them before they show up at your door-step.  If you want to succeed, you have to go get your business, or better yet, have someone else get it for you through referrals.

So . . . don’t wait around.  Do something!

Related Posts Plugin for WordPress, Blogger...
1 2 3
   Follow Me

Get every new post delivered to your inbox