Are You Referral Ready?

Top sales people value recognition. It validates their effort and contributes to their overall sense of accomplishment. Based solely on the recognition you give to your referral sources or top referring customers, how motivated are they to refer you more business?

The moment you start taking a referral relationship for granted is the precise moment it starts to fade away. The “give first” cycle resets when you gain, and offering your best referral sources a little well-deserved recognition keeps the mechanism of reciprocity in proper working order. If your withdrawals on social capital continue to outnumber your deposits, a deficit situation throws the dynamics off balance.

Evaluate what you have done to recognize your top referral sources for their efforts. Did you publicly thank someone who has gone out of his or her way to help you? In the last 60 days, did you send a thank-you gift or card to a referral source who brought you unexpected revenue? Did you introduce the referral source to someone and endorse him or her in exceptionally glowing terms? Did you provide a written testimonial they could use for marketing purposes? Did you promote their business in a newsletter article or advertisement? Try to come up with two ways you can recognize the efforts of your referral sources.

They know you, they like you, they trust you, and they know how to refer business to you. Your referral sources have a lot going for them, and they might also have their own businesses to tend to. What they don’t always have is the motivation to keep seeking referral opportunities for you. Since they probably expect very little in return, a little recognition can serve the referral source and the relationship at the same time.