“You’re in prospecting or whatever you do to get your client’s referral-based businesses is one of the best ways out there guys to put more money into your pocket and to get more closes.” – Carson Cook in today’s tip 130
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Scott Ingram: You’re listening to the Daily Sales Tips podcast and I’m your host, Scott Ingram. Today’s tip comes from Carson Cook. Carson is the CSO at The CSO Pro and is the author of the recently released No Shit Sales Journal: A Confident, Common Sense, and Practical Guide to Sales. Here he is with today’s tip:
Carson Cook: Hey guys, good morning, good afternoon wherever you are out there. Again, my name is Carson Cook and today we have a very exciting topic to talk about. Guys, one of the coolest tricks in the book that I used to use out there in the field and it’s an extremely cool idea around referrals. Now a lot of us out there guys used referral based business to gain more clients, more customers, therefore, resulting in more deals closed and more money. And if your company offers you leads or whether you’re on self-generation or you’re in prospecting or whatever you do to get your client’s referral-based businesses is one of the best ways out there guys to put more money into your pocket and to get more closes. And if you don’t have this as part of your sales arsenal or in your sales toolkit that it’s something that you definitely need to incorporate. It’s something that I recommend that you need to really focus in on it. If you haven’t done that in the past guys and you’re out there and you’re used to what you have, try and incorporate this guy’s into your sales toolkit. Referral-Based physicist, extremely valuable. There’s some companies out there like for example, CUTCO. They rely strictly on referral based business, it’s their model. Now the companies that we own, we own a couple of companies like Centrix. We also had another one called Authorize International that deals in one of the world’s most difficult sales industries, which is merchant services and credit card processing. And we also own Centrix Local, which is a digital advertising agency. And we do very well with each one of these. And it’s because of our sales procedures is because of our referral based business. We do a very good job with their clients. So today we’re going to share three different things that are going to really help you with this trick. And today the video is called the hundred dollar sales referral trick. Now we used to talk about this when we used to sell cars back in the day as being what we call a bird dog. And the traditional thing used to be is that you would actually put on your card, business card. You’d say, “I will give you $100 if someone comes in and signs up and buys a car from me.” Now I want to put a little bit of a spin on that. So today we’re going to talk about three things that you have to do to make the hundred dollars sales referral trick actually work for you and help your clients get to work for you. It’s like you’re building a little bit of an army behind you that will provide you with leads without a lot of effort. Okay? So the first thing is that you need to give before you get. Now, the old way of thinking is that you would reward someone for giving you that referral. They signed them up and then you’d give them part of your commission. But what I used to do is I used to give them the hundred dollars before they even gave me one referral. That’s the trick, but you have to do it correctly. Now, what we’re going to talk about, tip number two with this, Is that you have to invest in their emotional investment bank. You’re going to say “Well, Carson what’s an emotional investment bank?” We talked about this a lot in our call centers because you only have 30 seconds to make a first impression over the phone. Even if that 30 seconds, five seconds, you have to get right to the point if to be very clear, concise, and if you invest in their emotional investment bank, okay? What that is, that makes it more difficult for them to get off the phone. So we usually give what we call a compliment. So it’s the same kind of thing with this. If you give before you get, it shows that you’re investing in your client, you’re investing in them to go to work for you before they reward you and pay you back. Now, in most cases, guys, in processing business owners that are super busy, okay? There are very, very busy, they don’t have a lot of time, right? So if they see they’re going to get your fire frozen, I’ll get to it and then you bother them and they’re like “Look, I’d leave me alone.” Right? And then it ends up becoming an awkward situation. But if you invest in them first, you give them the hundred dollars first, but you have to do it right. Which brings me to point number three. You have to explain the rules in detail to them. When you give them the a hundred dollars you have to communicate and you have to say “Listen, I’m going to invest in you. I’m going to give you a $100 right now.” And usually I give it to them before I explain it, I said “Well, here you go.” And they go “Well, what is this?” Because now it’s already in their hands and they say, they look right at you. Everybody can use $100. Okay, so they’re holding the hundred dollars and they look at me and they go “What’s this for?” And I say “Well this is because I’m investing in you. Now, I know I just closed this deal with you and I know you’re going to love our product and it’s going to work very, very well with your business. We’ve already gone through this, but you know, I work off of referral based business. I actually make a living working with clients just like you. We’ve had an amazing time. I really really enjoy working with you and I really need you to help me out here man. That $100 right there and your hand is so that you can go and you can find me five different people who could take advantage of the benefits and the story of this product and how it came into your hands and how will I worked with you and I really need your help. So if he can, you know, I’m investing in you now and I know you’ll help me get five referrals”. So what that’s gonna do, guys, is they’re going to hold that. They’re going to feel obligated to work with you, they’re going to feel obligated, you’re going to get more of a response for your furl based business. So that’s the hundred dollar referral trick. Guys, a little bit of a different take on the bird dog, give it a shot, but make sure you keep these three things in mind. You have to give before you get invest in their emotional investment bank. And then number three is you have to explain the rules and you’ll see this will work beautifully, guys. You’ll get more sales. It would get more closes.
Scott Ingram: For more about Carson and a direct link to pick up your own copy of the No Shit Sales Journal, click over to DailySales.Tips/130
Then come back tomorrow for another great sales tip. Thanks for listening