Paying it Forward – Giving Referrals Without Expectations

Business referrals are a game of give and take, right? Well, not quite – at least not at first. When you begin to establish business connections, you should give referrals without any kind of expectations. This is a crucial step in building a successful business network. Giving referrals without expecting anything in return will help build trust and foster a relationship that is mutually beneficial.

It is the law of reciprocity: A person will do some good for you in return for some good you have done for him/her.

It’s a crazy system, but the more you give referrals without expecting any returns, the higher your chances of getting referrals when you need them most. Remember, you receive referrals in three ways:

1.   Direct referrals from people in your business network.

2.   Referrals resulting from the referrals you received from #1.

3.   Word of mouth, which can once again be tied back into #1. If you treat others with respect and show them kindness, they will likely return the favor – either directly (referrals) or indirectly (word of mouth).

Once that starts happening, the momentum is with you. People do business with other people that they know, like, and trust. So get out there and start cultivating mutually beneficial business relationships!

If you have any questions, contact Springboard Business Development by calling 410-832-7560 or click here today!

At Springboard we offer outsourced sales solutions for businesses in the professional services arena. It’s simple, while you focus on delivery, we bring our sales expertise and connections to focus on your business development challenges.

Follow us on Facebook and Twitter as well!

Sources:

Giving Without Expectation (A Source of Endless Referrals)

Business Referral Network: It’s About Giving and Receiving

Cold Calling: Outdated, Ineffective, and Pointless

In today’s modern world, why are so many businesses relying on such an outdated sales method? Cold calling is a thing of the past.

The problem with cold calling is that it is not an effective use of time. If any other aspect of your business had a success rate of less than 10%, would you continue with it, or would you pull the plug? Of course you wouldn’t invest time and money in something so unproductive; you want your business to run as efficiently as possible. So why are you still relying on cold calling?

The goal of the average sales person making cold calls is to call 100-125 people a day with the hopes of generating 8-10 interested parties. That’s right, 8-10 people out of 125. Cold calling is a numbers game with no real winner.

There has got to be a better way.

The truth is that cold calling is outdated. With the help of the Internet, Social Media, television, talk radio, and magazines, consumers are now more educated than ever before. Consumers want real information, not a sales pitch. This is why cold calling does not work. If someone needs a certain product or service, they can search for it, research it, and purchase it without ever leaving their couch.

Consumers no longer need cold calls, so why are businesses still relying on cold calls?

You should have potential clients coming to you, whether it be by word of mouth, lead generation, advertising, or referrals. Today’s business world is built upon relationships and trust.

So instead of focusing your efforts on complete strangers, build a rapport with your current clients. One referral from a satisfied consumer is more valuable than 100 cold calls. Based on a Nielsen poll, 90% of consumers trust peers and less than 10% trust an unknown source.

This is one reason social media has become increasingly popular as a sales tool. It helps build relationships. Sales people can have more relevant intelligence on prospects and become great resources to their customers by using social media. Now companies have the opportunity to listen, engage and converse with a massive market place, like never before.

There has been a fundamental shift in the way business works. So maybe it is time for you to embrace the future of sales and finally shift your tactics away from ineffective cold calling.

If you have any questions about outsourcing, contact Springboard by calling 410-832-7560 or click here today!

At Springboard we offer outsourced sales solutions for businesses in the professional services arena. It’s simple, while you focus on delivery, we bring our sales expertise and connections to focus on your business development challenges.

Follow us on Facebook and Twitter as well!

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Sources:

Is Cold Calling A Thing of the Past? SalesHQ.Monster.com

Why Cold Calling is the Bottom of the Barrel Blog.InsideView.com