How to Create a Million Dollar Referral System and Double, even Triple your Profits Easier and Faster than you Thought Possible
If you are reading this there is a good chance you know that until recently, I owned the biggest business coaching program in the southern hemisphere over the past 20 years.
Also I have coached and mentored in literally every industry and category that you can conceive.
So I can make this statement based on expensive experience and fact…
Most if not, every business owner I talk to, tells me that the…
Very best client they can ever get that obeys them like a heart surgeon
and pays them whatever they ask, is a REFERRAL.
Yet when I ask them “do they have a Million-Dollar Referral System”, the answer is always the same… NO.
The only justification for that is laziness, ignorance and stupidity.
Business owners spend millions of dollars a year trying to get a new client when the…
Smartest thing they could ever do is increase the number of referrals they get
Another great reason to have a referral system is because the most expensive thing we do in business is, get a new client and yet a referred client costs little or nothing.
Finally, a referred client is hundreds of times better than a client that comes into you cold off the street.
So read on to discover the next (#2) Low Cost, No Cost Gorilla Lead Generation Strategies that Work like Crazy… How to create your very own “Million-Dollar Automated Referral Cash Machine”.
It may be the most profitable thing you have ever done.
Let’s start with 5 very important statistics you need to know about referrals.
#1 – For every 3 quality leads you get from referrals, 2 result in business with you
#2 – Yet only 1 in 5 quality leads from advertising result in business with you
#3 – 2 in 10 clients will refer business to you if you take good care of them
#4 – 6 in 10 clients will refer business to you if you take good care of them and you train them to refer
#5 – 2 in 10 clients will never refer business to you regardless of how good you are at what you do because they don’t consider it their job and they don’t want to take the risk that the entity they refer to lets them down
So all that confirms the absolute best thing you can do to grow your business is to…
Create a referral system that trains your clients to refer the
right people to you using referral mechanisms.
Here’s 12 incredibly important reasons why you should go to the trouble of creating an “Automated Referral Cash Machine”.
1. Ease of the sale and they shop around less
2. Charge what you like (price often becomes irrelevant when dealing with a referred prospect)
3. Better behaved client and obey you
4. Less sales resistance
5. No need to be exceptionally good at selling (great because most people don’t have a system for selling anyway)
6. You are already positioned as the authority, expert and heart surgeon of your category or niche
7. Speed at which the sale is made
8. You may be able to shortcut the process and skip a few things because the prospect is a referral
9. Better still, you will not only beat your competitors, you will crush them
10. The economy has changed and organic business has dried up world wide
11. The pool of potential prospects and buyers is shrinking and so is their capacity to spend
12. It’s arguably the most profitable thing you could ever do for your business
Another important hidden benefit is that when a client refers someone to you, it makes it harder for them to leave you and do business with someone else because how would that look to the referee when they find out you’ve switched sides and gone to someone else.
Here are 9 stupid reasons why business owners don’t have an “Automated Referral Cash Machine”.
1. Laziness, stupidity and ignorance
2. Entitlement – “I’m so good at what I do people should just refer me”
3. Ego gets in the way of reality – “I’m so good I shouldn’t have to ask for referrals and it’s below me”
4. The staff are running the asylum and refuse to cooperate with the owner of the business
5. Letting the accounts department run the business
6. It’s outlawed by the regulators of your industry
7. Viewed negatively by your peers (unsuccessful, pushy, salesy, worried what people will think)
8. It’s much easier to just run an ad than it is to build a referral system
9. They genuinely don’t know how to create one
Well, like I say, in this blog I am going to do my level best to change the fact that you don’t know how to create an “Automated Referral Cash Machine” …
So after reading this, you have relinquished your right to complain about not having an “Automated Referral Cash Machine”.
In fact, I would say if you don’t have a referral system, you are doing yourself a disservice and you are doing your clients past and future a disservice also.
Here are 8 reasons why clients don’t refer prospects to you automatically.
#1 – You don’t deserve it and there is no such thing as undeserved success particularly today
#2 – It’s not your clients job to refer people to you and they are not naturally part of your sales team
#3 – There is a risk for the referrer in referring people to you and instead it’s easier to just stay a client
#4 – There is no referral system, no mechanism that makes it easy for people to refer so they don’t bother
#5 – There circle of influence, who they know, is in insufficient to warrant referring people to you
#6 – They lack a sufficient reward or motivation to refer people to you but stay with you anyway
#7 – There is no incentive to refer either for the referrer or the referred so they don’t bother
#8 – BIG mistake… You fail to recognise, acknowledge and/or reward when someone refers someone to you, so people stop referring to you
So the first thing you have to do is make a decision that you actually want a “Automated Referral Cash Machine” and you realise it costs you money to get an inferior client cold off the street anyway.
Then you have to be prepared to spend the time, energy and money necessary to create an “Automated Referral Cash Machine”.
There are 6 key basic essentials for building an “Automated Referral Cash Machine”.
#1 – Your product or service should be transformational to your clients
#2 – You need to figure out how you are going to reward and acknowledge referrers
#3 – You need to make a “no brainer” and easy for referrers to refer
#4 – Your whole organisation needs to buy into the fact that you are a “referral driven” organisation
#5 – You must test and measure everything so you know what works and what doesn’t work and adjust accordingly
#6 – You need to automate the whole process so preferably so there is little or no human intervention because that’s when it goes to crap.
Ok, there you have it… There is the second Low Cost, No Cost Gorilla Lead Generation Strategies that Work like Crazy I promised to reveal.
Without trying, I have created an encyclopedia on the subject of creating a “Million-Dollar Automated Referral Cash Machine” and this blog has gone long enough.
However, I am not done yet…
I have got another…
7 Kick-Ass Strategies Guaranteed to Send your Referrals Through the Roof!
It also includes how to set “The Groundwork for a Great Referral System” and “The 11 Step Process to use when Building your Own Referral System”.
Simply click here and follow the prompts to get a FREE video PowerPoint presentation on “How to Create your Very Own Automated Referral Cash Machine”.
All the Best,
Mal Emery
Committed to Elevating the Financial Wealth and Wellbeing of Society Through Entrepreneurial Excellence and Guilty of Conspiracy to Create Capitalism.
P.S. Feel free to pass the blog on to anyone who you feel might benefit from it.
If you are reading this there is a good chance you know that until recently, I owned the biggest business coaching program in the southern hemisphere over the past 20 years.
Also I have coached and mentored in literally every industry and category that you can conceive.
So I can make this statement based on expensive experience and fact…
Most if not, every business owner I talk to, tells me that the…
Very best client they can ever get that obeys them like a heart surgeon
and pays them whatever they ask, is a REFERRAL.
Yet when I ask them “do they have a Million-Dollar Referral System”, the answer is always the same… NO.
The only justification for that is laziness, ignorance and stupidity.
Business owners spend millions of dollars a year trying to get a new client when the…
Smartest thing they could ever do is increase the number of referrals they get
Another great reason to have a referral system is because the most expensive thing we do in business is, get a new client and yet a referred client costs little or nothing.
Finally, a referred client is hundreds of times better than a client that comes into you cold off the street.
So read on to discover the next (#2) Low Cost, No Cost Gorilla Lead Generation Strategies that Work like Crazy… How to create your very own “Million-Dollar Automated Referral Cash Machine”.
It may be the most profitable thing you have ever done.
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