A Good Business Development Design Must Include Generating No-Cost Referrals
Ever heard of the phrase "leaving money on the table"?
This phrase, "leaving money on the table", historically means salespeople who try to upsell prospects when prospects have agreed to the original, proposed transaction. Salespeople then try to sell add-ons or extras to get more money from prospects. I'm not saying there is anything wrong with upselling if prospects are getting more useful benefits and/or features.
321 Biz Dev's definition of "leaving money on the table" is about providing great sales experiences during the entire process of converting prospects to clients. Great sales experiences should translate into getting referrals easily from satisfied customers.
Every white-collar business owner (attorney, CPA, dentist, plastic surgeon, insurance broker, or real estate broker) should have a business development plan designed to generate many referrals. A referral does not cost the business owner a dime!
How does a great sales experience come about?
A great sales experience does not begin when the prospect and CPA meet at an appointment. It begins during the initial dialogue at a networking event, a random encounter at the bank, at the gas station, or waiting in the terminal for a departing flight.
During the four stages of a sales system (contacting, prospecting, appointment setting and closing), the CPA should deliver a great experience at each stage. By the time the prospect and the CPA meet at the appointment, the prospect is at least 50% in buying mode.
What 321 Biz Dev has observed and discussed in consultations with many white-collar professionals is there is a lack of awareness about how to secure referral business.
Most, not all, white-collar professionals have the following mindsets about referrals:
If they get a referral, they get one.
They just got paid...mission accomplished. Who's next?
That product or service was dragged across the finish line. No referral is coming.
The client will automatically recommend my company to their friends, family and colleagues because I'm great.
Looking through a rear-view mirror at how white-collar professionals think, they do not purposefully operate with a lack of interest in getting referrals. The reason why most professionals do not focus on referrals is due to not using a sales system.
321 Biz Dev's sales system and business development approach put laser focus on delivering great sales experiences to potential clients starting at initial engagements and not at appointment, closing stages.
The 321 Biz Dev sales system introduces white-collar professional communication and listening disciplines to develop winning prospect-salesperson relationships from start to finish.
Interested parties can contact me, Rick Nappier, CEO, at (833) 321-3212, or Yeilyn Rodriguez, VP, Business Development Specialist (bilingual) for English or Spanish contacts, at (786) 697-3400.
321 Biz Dev LLC offers 6- to 9-hour sales system training to help white-collar salespeople improve skills and increase business development results.
Business owners can also complete a 5-minute Questionnaire by clicking the Services tab on our website. Also, click the About and Podcast tabs to see and hear more about 321 Biz Dev LLC.
I hope readers enjoyed this article.