How do you treat long-time customers when the economy is this challenging?  Are you tightening the rules to manage costs or are you more liberal in your policies?

I went to a business that I had purchased from for many years but not over the last year.  They greeted me warmly as if I had just talked with them yesterday, with no hint of criticism or complaint in their voice.

Later that day, I went to another business that I also frequent often.  They know me well enough to recommend new products they think I’d like.  And they know I’ve referred other customers to them. I was 90 minutes late in returning an item I had rented and they wanted to charge me another full day.  It’s their policy and it’s posted.  When I asked for leniency, the owner’s reply was, “It’s our policy and you need to pay.”

The next day I received a rather large bill.  I had made a mistake in understanding the rules so the bill was correct if unwelcome.  When I asked the Accounts Payable person for some flexibility, I was flatly turned down.  When I asked to speak to the owner, I was told that he refused to discuss these issues with anyone.  “Even customers who’ve purchased from him for 20 years?” I asked.  The answer was, “Yes.”

The economy is going to get better.  I will spend more money.  I will continue to make referrals to my vendors.  Which vendor mentioned above will continue getting my business and my referrals?

Whether you’re a front-line sales rep hunting for new business, a consultant delivering solutions, or small business owner communicating with customers, board members and employees, it’s all about selling: selling to win new business or selling to retain customers in an increasingly competitive marketplace. So what’s the deal with the buzz around emerging Sales 2.0 solutions? Which approaches are best able to fill the pipeline? How can you integrate informal networking with the latest technologies?

This White Paper by Michael Kreppein, Inquisix’s Chief Sales Officer, explores the value of referral networking by using Inquisix to combine your in-person with your online networking.

Please download the White Paper in pdf format by clicking the link below.

Inquisix White Paper on Referral Networking

Make a referral week starts next week– are you ready? March 9-13, John Jantsch (Duct Tape Marketing) and some other really great sponsors including Inquisix are getting geared up for it… are you?

Did you take the pledge?

Did you sign up for the conference call?

Did you schedule yourself to listen to the other speakers?

How about the most important? Did you get yourself ready to make a referral?

Seriously, make a list of the people you know that need a solution for their business and make a list of the people you know that can fill that solution. (or make it easy on yourself by joining Inquisix!)

The goal is 1000 small businesses receive 1000 referrals.  This is not just about getting a referral but giving one too.  Some call it “giver’s gain” but we at Inquisix call it smart.  

For example, let’s say your good customer Bob (or Sally or Sanjiv or Fido or whomever your customer might be) told you they were in desperate need of a solution to a particular problem they might have. You run into or connect (on Inquisix!) to someone who does EXACTLY what your customer needs. Now what do you think happens when Bob (or Sally or Sanjiv or Fido) is introduced to EXACTLY what they need by you– your relationship to Bob just got better.  Your business just got stronger. Your a networking star (and now Bob or Sally or Sanjiv or Fido will recommend you to anyone they know!)

So as we begin Make a Referral Week make a point to GIVE than GET– you might find that it benefits you more in the long run!

Follow the action on Twitter: add #MARW09 to the end of your tweets!

Jump start the economy.

No we’re not talking about recently passed stimulus bill. Or even a bailout.  We’re talking about something more tactile, more visceral– more like an A+B=C.

John Jantsch, of Duct Tape Marketing, and Inquisix have joined forces (with some other amazing sponsors) to promote Make a Referral Week, this March 9-13th.  The goal is to generate 1000 referred leads to 1000 deserving small businesses.

This is a good thing.  For you. For the economy.

So take the pledge.

It’s tough times. Everywhere you turn negative economic indicators are released, reports on recessionary fears, and opinons on the impact of the economic stimulus package crowd the news.  Overwhelming problems and few solutions.

It is time for small businesses to take matters into their own hands.  Positive changes in small business can have a positive impact on the economy. Hey, it’s no biggie surprise to the rest of us that small businesses basically drive the economy.

As a class, small business:

• represent over 99.7% of employers;
• employ over half of all private sector employees;
• generate between 60%-80% of new jobs in the last decade; and
• produce more than 50% of non-farm private gross domestic product, or a GDP of roughly $6 trillion.

As John Jantsch sees it, “Make a Referral Week is an entrepreneurial approach to stimulating the small busienss economy one referred business at a time.  The goal is to generate 1000 referred leads to 1000 deserving small businesses in an effort to highlight the impact of a simple action that could blossom into millions of dollars of new business. Small business is the lifeblood and job-creating engine of the economy and merits the positive attention saved for corporate bailout stories.”

It’s Inquisix’s hope is that this one week further highlights the power of the referral. Referral prospects are less price sensitive, and, as Joanne Black, author of “No More Cold Calling,” points out “[a] referral is pre-sold on you … and [you] get a new client over 70 percent of the time.” We believe that by highlighting the high ROI benefits of referral networking, more businesses will permanently adopt this as a new strategic marketing tool, which will translate into healthier bottom lines. Good for them. Good for you. Good for the U.S. economy.

So be among the 1000+ small businesses to get new business the week of March 9- March 13, 2009. Take the pledge. Give a referral. Get a referral.  There will be an exciting schedule of programs to tune into featuring Ivan Misner (founder of BNI, author of Masters of Networking,) Bob Burg (Author of Endless Referrals, The Go-Giver,) Bill Cates (author of Get More Referrals Now,) Guy Kawasaki (author of Reality Check,) Scott Allen (author of The Virtual Handshake) and Susan Solovic Wilson (of SBTV.com) to name  few.

And for the social media savvy, follow the action on twitter and connect to tweeps partaking in Make a Referral Week (Add the hashtag”#MARW09″ to the end of your tweets!)

Happy Connecting!

I read just a great article today about 6 brothers who are all successful IT sales reps in the Boston area.  You can read the full article at MassHighTech and it’s well worth the read.  They said that the main reason for their success was the mentoring they all did amongst themselves over Sunday dinner.  They did it themselves because they found that “…many companies put less emphasis on mentorship and training than they should.”

The brothers not only mentor each other but take pride in mentoring the new hires working for them.

Do you have a mentor?
Who are you mentoring?

John Jantsch has a great blog post about creating a systematic process for creating referrals that everyone in the company should be using.

You can find the link here.  I don’t see anything dramatically unique in his steps but they’re all important and it’s surprising how many people forget some of the steps.  Of course his big reminder is to “make giving referrals a business strategy…best way to get is to give.”

He closes with “…everybody’s in marketing…” to which I’d reply, “…everybody’s in sales!”

Happy Referring!

An interesting post on EyesOnSales by Paul McCord got me thinking early this morning.  He says to make sure you know how strong your referral is before contacting the prospect.  Just because someone gave you a referral doesn’t mean that the prospect values that referral.  Seems like common sense to find out what the relationship is and how strong it might be before acting on that referral.

But maybe it’s not common sense.  Inquisix (as you all know!) maps the process of getting (and giving) referrals online.  Just like a SFA system tracks a sale from lead to prospect to opportunity to close, Inquisix tracks referrals from search to ask to get to rate.  Our data shows that the referrals with the best rating almost always have the best exchange of information at the ask and get stage.  Why?  Because at this stage in the referral exchange is where you are networking with another person to gain a referral from them.  Thus, you are exchanging your bona-fides on why you deserve the referral and why they can deliver on the referral.

The best referrals provide you the opportunity to strengthen your reputation with not one but two parties – the person you’re asking the referral of and the person you’re getting the referral to.  Makes sense to take the time to do it right!

I read a great blog post this morning by Diane Helbig on the SalesDog blog entitled, “Don’t Use My Name!”

She writes about people who give out someone else’s contact information and tell you to call them but, “…don’t use my name!”  And they consider it a referral.  That’s not a referral, that’s an invitation to start a cold call.

What’s a true referral?  When the person making the referral makes the introduction on your behalf.

You calling someone and saying, “So-and-so gave me your name and told me to call you.” is not a true referral.  And Diane’s example is nothing like a referral. I agree!

Diane thinks this behavior is worse than a cold call because it damages the reputation of the person giving out the contact information and the person acting on that information.

Then she goes on to discuss what quality referrals really mean.

Please go read her article in full!

There’s a little more than one week left to take advantage of the Referral Expo 2008. We’re in the last stretch of 2008: Gain insight, expertise, new ideas, and power yourself through this these challenging economic times.

The Referral Expo is a virtual event, conducted over the phone. It’s free to attend, but registration is limited:

• Breathe new life into your business
• Generate more referrals
• Find better quality referrals

Get new, innovative ideas! Bolster yourself against the economy. The Referral Expo 2008: Register now.

In times like these, building relationships and creating referrals are the keys to success. By attending this virtual expo, you’ll get loads of innovative ideas and strategies for generating referrals – all from the comfort of your home or office.

The Referral Expo 2008
Tap into 15 world-class marketing experts as they share their best referral strategies. I’m honored to be included in the team presenting at this year’s Referral Expo.

What: Referral Expo 2008
When: Now through October 10th

• Each 1-hour presentation will be conducted over the phone on successive weekday evenings.
• Monday – Friday at 5:00pm Pacific / 6:00pm Mountain / 7:00pm Central / 8:00pm Eastern

Cost: FREE
Register now!

See you there!

I have over 1,500 names of business contacts in my Outlook folder. But there’s only about 100 business people that I know well enough to accept a referral from me. I have earned the right to make referrals to these busy people because of my prior interactions with them. So when I make a referral to them for you, it’s because I value my relationship with them and not necessarily because I’m doing you a favor. And I expect you to treat that referral like gold because how you handle the referral is a reflection on me.

Rick Roberge hammered this very issue home in his recent blog posting, “Why am I calling?” A guy could have received a great referral from Rick to one of Rick’s trusted contacts but that guy’s reputation with Rick earned him a “No”. A well-deserved “No” in my opinion. And I just loved Rick’s description of this guy in the second to last paragraph! A great lesson and one that made me laugh.