Lead Generation is one of the three main benefits of the MAX Program we offer. But, in order to receive this benefit, you must fully understand the capabilities of generating leads through your Referral Partners.
When you increase your referrals you will reduce your cold calling efforts. When your team is out there working with their existing clients or developing new business and find there is a need that exists that they can’t provide, but find you can; this is an opportunity for you to close more business. Referral Partners is a relationship that works back and forth, to and fro. This process will meet the needs of both parties; increased closed business through referrals. The more often you meet with new business opportunities, the more often you can help someone on your team which can create a vertical funnel of possible business for the team overall. Everyone on the team can find balance with less cold calling and more closed business.
- Cold calling example – you could make 300 cold calls per week, using the national average 2-3% prospect to lead ratio, you will get 6-9 appointments out of that. If you sit down with all 6-9 of them (30-60 minutes with each one) and your lead to close ratio is 30% you will sell to 2-3 of them. How much total time does it take to make 300 cold calls do all the follow up, and close the sale with 2-3 clients?
- Referral Partner example – Your Referral Partner sends you 2-3 clients per month that could use your services, and that your partner has suggested should meet with you. They have “pre-sold” you. When you call, the clients agree readily to the meeting. After the meetings, (30-60 minutes), both agree to become clients of yours. Wasn’t that a whole lot more fun and less time than beginning with 300 cold calls?
Which one of the examples would you rather spend your time doing? If you are a B2B Professional and wish to join us on August 18th at IKEA, register here.
Thanks,
Clayton Hicks
513-371-5299
clayton@tristatebusinessnetwork.com
Clayton; I like the piece you published. A couple of things that really jump out to me. The are in the middle of the article when you are talking about Referral Partners. In part it reads . . . . . relationship . . . back and forth . . . to and fro . . . . meets the needs of both parties. If these elements don’t exist, like all relationships, it is doomed to fail. Good stuff.