This is an excerpt from a new book I am working on about how to generate more high quality referrals.
Several years ago I was brought in to help a computer training company increase their sales. The sales team were missing their numbers badly and the business was in serious trouble. When I got there I found out that many of the salespeople were uncomfortable because the price for their training program was nearly $40,000, which was a very high price point for the potential customers they were talking to. Each of the salespeople had a quota and there was a large white board in the sales office tracking exactly how much money each person had brought in. The sales were basically being managed as a numbers game.
To understand the situation better I asked a few questions.
What was the graduation rate for people who entered the course? Which I found out was above 90%. What was the placement rate for students who had graduated from their computer training? I found out was above 90%. What was the average salary of someone who graduated and got one of these jobs? About $80,000 a year. For the people they were talking to, what was their current average salary? Which I found out was about $30-$40,000, hence the reason a $40,000 training program was extremely expensive for them.
I brought the sales team together to talk with them. I explained to them that when someone bought one of these programs and invested $40,000, there was a 90% chance they would graduate and be a certified computer technician and a 90% chance that they would get an awesome job at a very high salary that would completely change their lives and the lives of their families. They would finally have a good paying job in a growing industry where they could build a solid career and continue to improve their income. I told the sales team to stop worrying about the quota and start worrying about how many people they could help, how many lives they could change. I told them not to be greedy about money, but to be incredibly greedy about how many people they could help. Once they were able to make the mental shift from making sales – to changing people’s lives – the sales numbers went through the roof.
It is the exact same thing for asking for referrals. It is not about new clients, new revenue, more profits for you and your business – it’s about how many more people can you help. There’s an old saying from Zig Ziglar that I love: “If you just help enough other people get what they need you’ll get everything you need.” This is the heart of generating lots and lots of quality referrals – be fanatic about getting as many referrals as you possibly can, so that you can help as many people as you possibly can. Look at it that way and you will do very well.