Get more referrals by becoming the chief referral officerBrian Hilliardreferral-based business, networking events, meetings
One of the most common questions I get asked during my seminars
is: "How do I fit networking into my busy schedule?" In other
words, in a world with so much to do and not enough time to do it
in, where's a busy originator supposed to find the time to meet new
folks?
Easy--by adopting a "chief referral officer" mindset. Or, to put
it another way, create a job within your company where the primary
objective of that position is to get you more referrals. And when
you think about it, that makes sense.
Companies have a chief executive officer whose primary
responsibility is to orchestrate a smooth and highly profitable
company. They also have chief financial and chief information
officers, whose responsibilities include keeping the company's
financial and technological houses in order, respectively. So why
not have a chief referral officer whose sole responsibility is
securing referrals for your business? In my mind, creating that
type of position would go a long way toward increasing your
referral-based business.
Now, before I explain exactly how this can happen, let me be
really clear on one thing: I'm not expecting you to go out and hire
someone for this position. As an entrepreneur myself, I remember
what it was like trying to get a business off the ground. And quite
frankly, there never seemed to be enough resources to take care of
all the things the business needed, let alone hire an
executive-level person. What I am suggesting is creating a position
like this within your company, that initially you will fill, whose
sole focus is referral-based business.
In Michael E. Gerber's book, "The eMyth Revisited: Why Most
Small Businesses Don't Work and What to Do About It," he talks
about the importance of creating clearly defined job descriptions
within a company--bookkeeper, marketing person, chief cook and
bottle washer--so everyone understands their roles and
responsibilities.
He goes on to say that even if your name is under all of those
positions, which is often the case for most small businesses, the
goal is to reach a point where you can bring other people in to do
some of those jobs for you. And by having a clear job description
already in place, that transition from you owning a job to you
building a business becomes a whole lot smoother.
If you haven't read this book, I highly recommend it.
In any case, that's the process I'm suggesting for the chief
referral officer. Lay out a clear set of guidelines and action
items you'd like to see this person to take, and then fill that
position yourself for two to three hours a week.
Here are some ideas on a couple of activities a chief referral
officer can do on a day-to-day basis:
Engage in two to three networking events each month and
follow up with folks you meet
As a smart enterprising originator, you already know the importance
of networking and how vital it is to meet new folks. However, one
of the biggest mistakes I see people make is falling down in the
follow-up category.
And yes, I know that people have got places to go and things to
do, and following up can sometimes seem like too much.
But here's the thing--by adopting a chief referral officer
mindset, you recognize that meeting new folks while networking is
just the first step toward generating more word-of-mouth
business.
The second is actually meeting them afterward in a local coffee
house or similar venue, and learning more about their business and
what you can do to help them. When you do that, you pave the way
for future referrals.
A chief referral officer doesn't view this as a waste of time or
an extra step--it's his job! And, of course, that's the beauty of
taking on the mindset of this position. Getting more referrals is
viewed as a series of actions that are integrated into your
business, and not just a bunch of add-ons that stand in line behind
everything else on your to-do list. And by networking with people,
going out for coffee and then seeing what you can do to help their
businesses, you will absolutely get more referrals from everyone
you meet, without having to beg for business from all of your real
estate agent friends.
Always thank your referral partners
This is probably the single biggest step a chief referral officer
can take towards maximizing the number of referrals he gets each
month.
Why is that? Because with very little work, it allows him to
potentially double the amount of referrals he gets from an existing
referral partner.
Allow me to explain: Let's say you pass a referral on to one of
your colleagues. And not a particularly big one, just someone you
ran into who you thought would be a great fit for your friend's
business.
Now, in most cases, you'll give that person a call to let him
know you've got a referral for him. After exchanging contact
information and receiving a couple of thank-yous at the end of the
conversation, that's probably the last time you'll hear about that
deal again. Not that you won't talk to him or see him around town,
but in the context of the specific referral you just provided, you
probably won't discuss it. This isn't too big a deal since that's
how 95 percent of most referrals are handled.
But instead, let's turn it around. Let's say that as an
enterprising originator who's fully embraced the chief referral
officer mindset, you recognize the value of a referral partner who
went out of their way to give you business.
And instead of just saying, "Thanks for the referral," you went
above and beyond to keep your original contact in the loop as the
deal progressed. So you might start off by sending a little thank
you note the minute you get off the phone, letting him know you
appreciated the referral and will keep him updated on the progress
of the deal.
A couple of weeks later, you could send a quick e-mail telling
him what's going on and how things stand. Again, thanking him for
the referral.
And after that, you could send a nice gift certificate letting
him know you and that referred individual are now doing business
and you appreciate (again) him thinking of you. Now what kind of
message does that send to the person who referred you business? I
don't know about you, but if I got three separate communications
about the one deal I sent over, I'd know this person really
appreciated that referral.
And as a matter of fact, I'd probably be more inclined to send
him another deal. Why? Because it always feels good to be
appreciated. And when someone recognizes you for a job well done,
chances are you're going to do it again, which is exactly how a
chief referral officer can get multiple referrals from just one
source.
The bottom line
Most originators say they want more referrals, and some even have a
game plan for making those referrals happen. But by adopting the
mindset of a chief referral officer, you've gone a step further by
physically integrating those actions into the day-to-day activities
of your business. Networking and follow-up are no longer
hassles--they're part of your job. And believe me, once you see how
a simple change in your mindset can literally trigger an avalanche
of referrals to land right at your feet, you'll wonder why you
didn't create this job from the very beginning.
As a motivational speaker and author of the book "Networking
Like a Pro!" Brian Hilliard is recognized as an authority on
showing busy originators how to get more business from everyone
they meet. He may be reached at (404) 434-2826, e-mail
[email protected]
or visit www.agitoconsulting.com.
