Peer Referrals …. Do They Really Work?

I recently had someone ask me if I get any ROI from attending marketing events or online symposiums. The truth is ‘Yes’ – I do. While I know many people don’t think marketing events or peer referrals truly work, the bottom line is to understand that referrals aren’t a “sure” thing. You still have to work to obtain the business.

Some people say, “Sure, refer me to your source” only to be nice. This is a lead that you will pitch and pitch and will never come through.

Other people say, “Ok, make the introduction” only to see the cost of your services and run away- no matter how valued the relationship is. This lead was never secure to begin with.

Other people are thinkers. Other people are price comparers. And other people are actually interested. Like any type of business, referrals are simply enquires and you have to earn their business. Just because someone knows you and loves your services doesn’t mean the third party will buy on a handshake or virtual introduction.

So, how do you close a referral lead? Simple – just follow these 3 steps.

First, reward those who send you business. If the referring party has a financially vested interest, he or she will help to follow up and close the leads they do send over. Keep in mind, however, that only about 20% of all leads will actually close.

Second, offer a discounted or rewards program to those who have been referred to you. Even with praise and amazing ratings, an incentive-based offer to try your services for a limited time works better than sending over a large contract or long-term service obligation.

Finally, don’t be aggressive. Stop with the daily “follow up” phone calls, sales-ad emails (sent twice a week), and Facebook ‘Likes’. If a potential lead is annoyed with a pushy sales process right off of the bat, he or she will be skeptical of your services. I know it is hard- but be conservative with your follow up efforts.

Until next time,

Twyla N. Garrett

How to give a killer presentation.

I receive wonderful comments back from attendees at the conferences I speak at. I don’t mind gloating about this. Why? Because I can share the secret to my presentation success with my blog audience. You see, I love public speaking but wasn’t that great at it when I first started. Someone shared the following secret with me, which has improved my presentation skills regardless of the audience size. So, I thought I would share it with you. I promise, if followed, you will be gloating about your wonderful feedback too!

End with a quote! It seems simple enough, right? You’re probably thinking a quote ending is silly. Well, it’s now. You see, people will remember a quote. They will associate that quote to your brand. They will use the quote often and, when doing so, think of you. They will share the quote on social media, they will talk about the quote at meetings, they will not believe that you ended a presentation using someone else’s quote. Your borrowed quote will be memorable!

The key is to select the right quote. It has to tie into the topic you are speaking about. It has to be cited to someone everyone is capable of knowing- at least from a name recognition point of view. The quote should be limited to two sentences. The quote should be said and mirrored in a presentation slide. And, if you give out any collateral, the quote should be at the very end.

Still intrigued? Try it! The next time you are speaking to a small group- even friends at Starbucks- leave the room with a quote. I promise you it will be a pivotal moment for you.

Until next time,
Twyla N. Garrett

Rules for Life!

Today is Friday. I start out every Friday giving thanks for all the blessings I have. I also take time to ensure I am not breaking any of my life rules. Yes, I have life rules. These are rules I follow to be successful in business and within my personal life. Judging by my record they have worked so far. Let me share them with you.

#1. Love your own ideas. Embrace them! Never quit. Don't worry about the outcome, worry how you're going to make the idea work. People who don't believe in themselves will not allow anyone else to invest in them, either.

#2. Don't be so optimistic that people think you're nuts. I'm a positive thinker. You should be one too. But, don't ignore warning signs. Reality is reality. You have to make the best of any situation, but don't overlook it.

#3. Take a vacation each and every week. Ok, you're probably thinking I'm nuts now. Listen, most business people have become acclimated to our 24/7 technological culture. We're constantly working. I give myself a four hour block, mid-day, one day a week. I shut down all of my electronics and allow myself to watch a movie, go for a walk and/or get ice cream without checking emails, responding to people via Twitter, taking client calls, and so on. We need to let our brains rest in order to be more productive. So, take mini vacations once a week to help clear your mind and to unwind.

I hope everyone has a great weekend.

Twyla