The Referral Conversation

Posted on November 5, 2011 by Emile Paradis
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I often hear from people that their new business development is 100% by referral. While 100% may be the goal, usually the real number is significantly lower. Folks aren’t lying; they’re just operating under a misconception.

This misconception comes from the lack of a system that develops and tracks lead generation and more specifically, referral generation. If you want to build your business through referrals, you need a system to develop and track them. That means your system includes a way to track and measure. While “paperwork” is, for me, the least attractive part of sales, (unless the paperwork is a contract) results are erratic and unpredictable without it. Who is giving you referrals? Who are you referring? What are you doing to earn referrals? What is your closing percentage for referrals vs. other lead sources? Are you in the right networks? Are the referrals you are receiving your ideal clients or are they “anybody” or “somebody”?

This fifth “M” of the 5 M’s of Marketing may be the least glamorous of them all, but it can be the difference between a hobby and a business. So, if you want referrals to be a predictable part of your new business generation instead of just a happy surprise, you need a system. And a big part of that system is Measuring your activities and results.

Posted in Referral Networking, Referral Strategies | Tagged , , | 2 Comments

What, More On Social Media?

Posted on October 23, 2011 by Emile Paradis
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These days it’s hard to go for long without hearing about social media. Weather Channel is Tweeting, athletes are tweeting and Facebooking, politicians are tweeting, alerts and updates popping up on the computer. It’s all fun and interesting but left unmanaged, can become a black hole that eats up large chunks of valuable time. So, from a business perspective, how much is enough and which media are the right ones? Of course, the answer to that is, “It depends.”
We network to meet other sales professionals and expand and deepen our referral relationships. However, another valuable aspect of your network is that of providing support and information. Most of us are fortunate to meet regularly with a number of experts, some of them in the area of social media and internet marketing and support. So if you have questions about what you should be doing in the world of real time marketing (to quote a favorite source, David Meerman Scott) you may find some answers right there in the room with you. How about Jeff Sheehan, Donna Lang, Danny or Sarah from Yepser, or Stan Schnitzer, PR consultant? Or Carol Shepherd, Eric Flamm, Erik Seifert, or Doug Wheeler to help sort out the technology to plug you into the cyber world? Or Betsy Rhame-Minor or Michelle Hutchinson, or Stan Schnitzer to help you craft that that social media message? If you are interested in learning about how social media might fit into your marketing, you might want to spend a few minutes with Dan Greenfield and ask him about the Social Media Makeover on 8 November. Looks like a good place to start. http://bit.ly/rsFNWZ
Make good use of the great resources you are already connected to. If you look around you, you will find an abundance of talent that can help you with building your business. Social media is only one of the areas represented by some real pros you already know. Have a conversation with the; broaden and deepen your referral relationships. Lend your expertise to them, and in the process, expand your information network, as well.
Posted in Referral Networking, Referral Strategies, Small Business, Social Media | Tagged , , , , , , | 2 Comments

Friendship Day

Posted on July 21, 2011 by Emile Paradis
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Learned something interesting and a bit startling yesterday from a new friend I met through Toastmasters.  Here’s an email I receieved from him:

“As you know, today  in my Country ( Argentina )  is the Friendship Day, in
commemoration of the day that mankind step the moon ( 07/29/69 ). As you can
imagine we join our friends and organize some asado  ( barbecue) .  So let me toast with you drinking a virtual wine. ( could be better a real wine, let’s think about this ).”

Well, Mauricio, we didn’t know.  In fact, sad to say, the significance of yesterday was barely noted here in the good old U.S. of A.  Wow!  A bit humbling to be confronted with how jaded and unappreciative we have become about one of the greatest events of our lifetimes.

I’m going to try to do better.

 

 

Mauricio

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Earning Favors

Posted on July 17, 2011 by Emile Paradis
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Sent by SunTrust Banker and Certfied Networker Jan Snyder:

“ Don’t wait for, expect, or rely on favors.

Count on earning them
by hard work and perseverance. ”

Marian Wright Edelman (1939 – )
American activist
founder of the Children’s Defense Fund

So what’s hard work and perseverance got to do with getting referrals? I thought this referral networking stuff was supposed to be fun. Well, I think this quote summarizes word-of-mouth marketing and referral development pretty well. And it is another way of saying what Dr. Ivan Misner says about networking: “It’s not net-sit, or net-eat. It’s network.”

I often say that referrals shouldn’t be a happy surprise. Rather, they should be a predictable part of your business plan that can be depended on to help you achieve you business goals. The only way for that to happen is to have purposeful, planned activities that produce referral results. So having a plan and working it are necessary to being successful in the world of WOM.

And one of the really nice parts about developing business through building strong business relationships is the idea of reciprocity. To me, the first line of the quote says that everything I do may not directly come back to be in the way of a referral or new business. However, it will come back to me somehow. It also provokes the thought that we shouldn’t wait before we do something for someone. Don’t wait for the other guy to go first. Start finding ways to help others and see what happens.

Of late, I’ve been trying to pick up the pace with my relationship building activities. Consistently applying the 18 Tactics easily becomes a habit that produces results.  These 18 Tactics are deposits with those who matter and may earn us to those favors that will make the difference in our our business.

 

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Web-Based Networking

Posted on July 7, 2011 by Emile Paradis
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I attended a presentation by Jeff Sheehan recently on social networking.  Jeff always does a good job in helping me feel a little better by helping me sort out the abundance of networks and which might be right for me.  Here are a few ideas on the topic from my friend and Referral Institute colleague, Paula Frazier.

Join a Web-Based Networking Group

So you’re stuck in your proverbial cave? There’s still a way out…through the world wide web!
Some say that if you successfully harness the power of the internet you can actually experience positive results in your business networking efforts. David Teten and Scott Allen, authors of The Virtual Handshake: Opening Doors and Closing Deals Online, tell us that online networks may even become the next power lunch or golf course.
Many times when folks hear the word “network” they assume it’s referring to the way computers are physically connected and hardwired together. The most current definition has to do with the virtual connection to today’s wired-up world. WWW dot opportunities seem almost infinite!
These days, how often do you hear, “Let’s do lunch?” Almost never! It’s been replaced by, “Shoot me an email” or “Let’s catch up on FaceBook.” My teenage daughter literally uses the word “talk” in place of “text” and describes online communications as if they’re discussions.
Like it or not, we can keep up or get left behind because technology is going to continue to move forward with or without us. It’s generally more empowering to get started on your own terms. So let’s do it!
This week TAKE ACTION by venturing out via computer:
1.    Find an online business community that’s a good fit for you.
2.    Set up your profile (completely).
3.    Request connections with people you know.
4.    Post your status and comment on a colleague’s blog/status.
5.    Schedule daily or weekly time to regularly participate in your online community.
Can you establish relationships and do business online? Yes. I still firmly believe that the strongest relationships, those that stand the test of time and turmoil, will be those that are nurtured face to face, nose to nose and toe to toe. Online communities shouldn’t take the place of the actual community you live and work in. It should enhance and add value to it!

As someone that relies completely on word-of-mouth to build my businesses, I’ve found The 29% Solution, written by leading referral marketing expert Dr. Ivan Misner, to be instrumental in my success. He offers 52 weekly networking success strategies (one per week) and specific actions to take to experience success through focused, purposeful networking efforts.

Paula Frazier is a referral marketing trainer, consultant and keynote speaker. She is an Executive Director for BNI and part of a select team of Master Trainers for Referral Institute. Paula’s business networking articles have been featured internationally. She was recently published in Brainsbook for Networking and is also acknowledged in the New York Times best seller, Truth or Delusion – Busting Networkings Biggest Myths. Check out #33, Delusion with a twist! Paula can be contacted at paula@referralinstitute-va.com.

Posted in Linkedin, Referral Networking | Tagged , , , , , | 2 Comments

Influencing Prospects, Clients, and Referral Partners

Posted on March 4, 2011 by Emile Paradis
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The six sources of influence: motivation, training and skill building, positive peer pressure, the influence of managers and coaches, incentives, and tapping into the power of physical space and environment.

I came upon this fragment of information as I was poking around in some files on my computer.  Copied the list from who-knows-where?  It’s an important list. Continue reading →

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