Posts Tagged ‘BNI get referrals’

Power of Persuasion: The Results Are Clear

Thursday, July 8th, 2010

All referrals were not created equal.

The results are clear.  My latest study reveals the secret to getting referrals that convert to sales.  This discovery may not be something you’ve ever considered.

When someone gives you a referral.  They may be connecting you with a friend, relative or colleague.   In some cases you will be connected with one of their vendors or one of their clients, and it is the latter two types of relationships that I tracked.

Let’s say Amber gives me a referral to John Smith because she thinks he would be interested in what I provide.  The fact is that if John is her vendor he is much more likely to connect with me than if he were her client.

I suspected this at the outset, but I never realized how big the difference would be.  Below you can see the percentage of successful connections made after the referral was given.

Why the difference?

Reciprocity.  One of the pillars of persuasion is the law of reciprocity, which dictates that people feel beholden to “pay back” those who help them.  In addition, people typically give back a great deal more than they received.

Above, we see the law of reciprocity in action.  Imagine yourself in the referral process:  If someone selects you to be his vendor and that person asked you to connect with one of his contacts, would you?  It is probable that you would feel beholden to at least make an initial connection.  However, if you are someone’s client or customer, you would likely be less compelled to reach out and make the connection.

Networker’s application.

I remember learning in Business Network International (BNI) that we should be specific when asking for referrals.  Instead of asking your contacts who they know that could use your services, you might ask which of their VENDORS could use your services.  Work with that population and you’ll have a much better success of making contact and avoiding the blow-off.

Beyond getting better referrals, you now have the secret to giving them.  Consider the BNI philosophy, “Givers gain.”  That creed was built on the law of reciprocity.  If you are able to give higher quality referrals by tapping into your pool of vendors, then the recipients of the high quality referrals will reciprocate.  And that’s how referral networking is supposed to be done.

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Public Speaking: Networking Events and Incentives

Monday, May 11th, 2009

While you speak at a networking event, do you expect your audience to be conjuring referral possibilities for you? Depending on the event, in most cases people are not doing so.  Why?  Most people are ineffective networkers because they don’t live the “givers gain” philosophy.  Many of these people aren’t even listening to your message. They are thinking of what they are going to say when it’s their turn to speak, or perhaps they are pondering lunch.  The best networkers WILL listen, but since they are so well connected, there is probably a list of trusted referral partners they already have in your field of expertise.

There is, however, still great benefit to public speaking at networking events as long as you keep in mind the following secret:

People respond to incentives

After you’ve caught their attention using this type of power opener, you must show them how it is in their self-interest to consider who they might know to help you.

Here are some ideas that I’ve seen work at BNI and other networking groups:

1)  Refer a wedding to us and you get a romantic overnight stay at our hotel.

2) When your prospect brings up a price objection use this tactic: “If I can show you how to save that much money off your operational expenses, would you be willing to use that savings to invest in my solution?” This is Ben Hall’s (OverVIEW) strategy.

3) For every referral that turns to a sale, we will give you $100.

4) Everybody take out a piece of paper and write down the names of small restaurant owners to whom you would introduce me.  As a thank you, here is a small box of Godiva for each name you provide me.

I understand that some readers will contest: “but networking should be people just trying to help oneanother.  There is no need for incentives.” Okay, agreed! That would be nice, and there may be SOME groups that live that philosophy.  In general, however, if you want people working for you, never underestimate the power of personal incentive.

What creative ideas do you have to incentivize others to search their mental databases for referrals to help you build your business?  Please share so that our readers can get the most out of their public speaking at networking events.

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