Top producers build their businesses on referrals is a myth.
Before we even get into the fallacy of how easy it is to get referrals to rain from the sky, let’s analyze the reality of the math. If you need to close 10 deals a month and convert 10–20% of your leads, then you need 50–100 leads in your pipeline. Who gets 50–100 referrals a year, much less a month?
Don’t waste time trying to create the mythical referral engine.
(Have you noticed that the only people selling that advice are non-quota-carrying gurus?)
Today’s sales lead comes from:
- Compelling online personas
- Email lists
- Google searches
Referrals will never generate a positive ROI.
Shaking down clients, colleagues, friends, and family will never yield enough leads to hit your quota.
Spare these relationships and your precious time.
Instead, position yourself as an expert and your marketing around sharing that expertise. Consistently share your expertise in social media and blog posts and by reference (i.e., links) in your email and text communications.
Let’s go a little deeper and see exactly what this might look like for you.
Start building a lead generation system that will yield leads in a matter of days, not months, and in sufficient quantity to hit your quota — every month.
Before you get distracted building some big elaborate lead generation system, start with getting a little attention on social media.
Pick one social media platform that you’re familiar with (ideally, enjoy being on) and start posting short posts, videos, or images that give your ideal customer profile something to pause and think about.
Be a contrarian. Be a little more transparent. Be willing to get in front of the camera. Be a little more disciplined or consistent.
Do it for 30 days straight and you will stand out from all your competitors. You will begin to build a following. And most importantly, you will be confident and motivated by the results.
No one is asking for referrals. They’re just going to the web and searching for the best option.
Now, instead of asking for referrals from friends, family, colleagues, and clients. Set up a simple landing (use Carrrd) and add a call to action (CTA) to each of those posts — offering to help your audience.
You now have a lead generation machine, fueled by content, that will grow your lead volume as you continue to publish your expertise.
- Create a weekly newsletter and encourage all the people in you audience to join it and get it going out to all of your clients. Now you have added email to your marketing and lead generation channels.
- Create a proper website on WordPress, learn a little SEO, and start blogging to rank in Google searches.
- As your business and team grows, gain more control over your lead generation by using Google Ads and paid search.