A dangerous game we play
Leaving the flow of referrals into your business to chance is a dangerous game. Most often, business owners believe that if they simply provide great service, that referrals will come on their own.
To a degree, that's true. But they often come at such low voume and with such inconsistency that they cannot be relied upon as a primary source of new clients.
Yet, go to virtually any meeting with 2 or more business owners in the room and ask them where they get most of their business and they'lld tell you - "word of mouth" referrals.
Ask the next, more important question; "What are you doing to stimulate referrals?" And most will say "Nothing."
In fact, in preparation for his book The Referral Engine, author John Jantsch surveyed several thousand business owners. He found two things:
#1. 63% felt that over half of their business came from referrals
#2. 80% said that they had no system of any kind to generate referrals.
Yet we all know referrals, when they make it to us in the right context, are the best customers. They buy with less effort than prospects that come from cold advertising.
According to a Nielsen study, prospects are four-times more likely to buy when referred.
But only 20% of businesses are doing anything to proactive to get more referrals - all because the mechanism for getting them, that has been taught for the last 100 years is based on getting you to do something that makes you uncomfortable.
How do we help you to grow your referrals?
Imagine giving your clients a painting of their home that you just helped them to buy or sell, a heartfelt gift that they treasure. After they hug you and thank you for such a great gift, what do they do, they hang that painting of their home on their wall.
Now every one of their friends and family come to visit, what do they see? The painting of their home hanging proudly on their wall.
"Isn't that a painting of your last house that you sold?" their friend will ask.
"Yup, we lived there for years, we loved it there, but it was time to move on to this place we're in now."
"Such a great way to capture the memory, with a painting of the home. Where did you get it?" Your client's friend will ask.
"My Realtor gave it to me as a gift! So thoughtful!" Your clients will say.
THAT is the referral! And the painting will continuously create those endless referrals for you, over and over again. So you know how important referrals are to your business, and you don't have a system of capturing those referrals; until now!