If you’re not getting referrals or not getting enough of them, you’re walking away from sales and revenue. Not convinced?
Then, run these numbers for yourself to see how much money you’re losing when you don’t ask for referrals:
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1. List the number of face-to-face meetings you’ve had in the last 5 business days: |
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| 2. List how many times you’ve formally asked for referrals at these meetings: |
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3. Subtract answer 2 from answer 1: |
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4. When you do ask for referrals, how many do you get on average per ask: |
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5. Multiply answer 3 by answer 4: |
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| 6. Write down your closing percentage from a good, referral based business: |
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| 7. Multiply the percentage in answer 6 by the answer in 5: This is your number of lost clients. |
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| 8. What is the average size of a deal in your business: |
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| 9. Multiply the answer in 8 the answer in 7: This represents lost your lost revenue. |
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| 10. Write down how many weeks a year you work: |
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11. Multiply your answer in 10 by your answer in 9: |
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Now, what do you think about the referrals you’ve lost? How well are you doing? Can you do better? Motivated to get more referrals?
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