Don't just take our word for it. The following is excerpted from an article distributed by Advertising Specialty Institute to suppliers and distributors of promotional products in January 2011:
Jason Mallin, owner of The Garage Promotional Group (asi/466394), owes a large chunk of his success to the referral process. When Mallin wanted to breach the front gates of Brainerd International Raceway (BIR), the scene of the fastest recorded drag race time on the planet, he went to his fellow Business Network International (BNI) members to get a way in.
Mallin showed his commercial at his early-morning BNI meeting and specifically asked for a referral and introduction to the new owners of the race facility. He got three responses. His 60-second commercial showcased specific things he could do. “Did you know that online stores for promotional products can turn a souvenir shack into a 24/7, 365-day-a-year retail location?” the commercial said. “Utilizing existing brochures, your website, receipt messaging and more, you can drive people to purchase all year round, even though the business is closed for winter! Today, I am looking for a personal introduction to the new owners at BIR. Their current product offerings, cost and poor visibility tell me that The Garage can really tune up their brand!”
The Power of Referrals
Mallin received a call from his referral source, who said that the raceway owners wanted to meet him at the track that afternoon. “After introductions, we went through all of the products they had been offering, the location they were selling at and some of the pricing they had been paying,” Mallin says. He took the information home and started to put together a plan for private-label apparel, custom caps, better art design for event T-shirts and a broader mix of promotional products. “Our follow-up meetings were all about orders, art proof reviews and the next steps in going online and licensing products that are sold offsite,” he says.
After a few initial meetings, quotes and conceptual art ideas, Mallin was given his first order; 15,000 custom-designed caps. That was followed by a total of 1,500 event T-shirts and promotional products. His first-year sales topped $50,000. “Over the past five years, while their business evolved, so did our products,” says Mallin, who has worked with BIR since 2006 and created $146,870 in sales. He’s worked with BIR on an online store, remote-location licensing and trade show apparel and equipment. “Our apparel has gone from event-style to a more retail look with watermark designs, varied T-shirt options and a new selection of distressed and reversed laser tackle-twill sweats,” he says. “While each year is different, we have seen sales steadily grow, and it was all because of a simple ask at a 7 a.m. meeting.”
A Referral Specialist
Less than 30% of salespeople ever ask for a referral, yet it’s a proven strategy for sales success. According to Joanne S. Black, an expert on referral selling and the founder of No More Cold Calling, conversations with a referral start in a different place. 1. Take advantage of a pre-sold prospect. “With cold calling, they’re not expecting your call. With a referral, you’re pre-sold, you have some trust and credibility,” she says. With that introduction, Black typically hears that about 70% of prospects are converted to clients. 2. Know who you want to talk to. Black believes that current clients are a great source of referrals, but also the most underleveraged. “We’re not asking, so you need to start where you have the best relationship. You never know who people know,” she says. Also, be as specific as possible about your ideal clients. “It’s not just anybody – you need to know who you want to talk to. That’s part of the preparation,” she says. 3. Express your value. “When meeting with a prospect, you need to be crystal clear about why someone should work with you,” she says. “Answer the question of why they should do business with you. Talk about the results or the impact your products have delivered to other companies.” After being clear about what you’re looking for, ask your clients about a few people they know for an introduction. 4. Say goodbye to competition. Referrals also shorten the sales process and take less time to get to a client. “Typically, the competition goes away,” Black says. “If it doesn’t, it’s certainly diminished.” |