The quality of referrals can vary a lot. How enthusiastically people communicate about you and how strong the relationships are between you and the person who recommends you, make a huge difference. Referrals can vary from being given a name of a person who is not expecting your call to being personally introduced to someone who is expecting your call and ready to purchase what you’re selling.
Why is it so important to have a prospect expecting your call? The Sandler Sales Institute studied this several years ago, and my experience over the years has found the institute’s numbers to be spot on. Here’s how often the following turn into business (not just an appointment):
• 5% . At best the amount of business you’ll get from a cold call.
• 15% . The amount of business you’ll get when you receive a name of someone, but who is not expecting your call.
• 50% . The amount of business you’ll get when you have permission to call, your call is expected.
• 80% . The amount of business you’ll get when you are personally introduced.
There are variations on the quality of a personal introduction. Being introduced briefly by chance in the hallway of an office is not as powerful as the three of you meeting for lunch. You can also introduce two people over email and include a personal testimonial in the email about both parties.
I LOVE NETWORKING!
Wellington and Waiarapa