How to Ask for Referrals
I’m going to make a few comments about referrals. First of all, calling strangers, having to meet strangers, knocking on doors, that’s God’s revenge for not getting referrals.
Secondly, if you don’t ask, you’re not going to get them.
And thirdly, if you’re having trouble asking, let me tell you why.
Watch the video or read the transcript to learn Don’s suggestions on how to get more referrals.
There’s a good chance you’re thinking too much about yourself. You’re saying to yourself ‘Am I begging here? Am I getting red in the face? Am I embarrassing myself by doing this?’
Suggestion: when you ask for referrals, don’t think about yourself, think about the people you can help.
Are you a value-added person? Can you help people get their kids through college? Can you help people retire comfortably? If so, you should have no problem asking for referrals. Don’t think about yourself, think about them.
A friend of mine does it as well or better than anybody.
Whenever he opens a new account, he simply asks his clients ‘Are you happy with what you did? Tell me… play back to me why you did this.’
– ‘Well, it’s the first step in our retirement plan. We’re doing the right thing.’
He says ‘Of course you are! Also, I’m sure there are people you love, certainly family, maybe close friends. You want nothing but the best for them. And you think they should be doing this. So you know what, they’re not going to get to do it until they get to meet me, are they? Who do you know? Who do you really love and care for?
– ‘Well, my sister. Her husband’s not a saver.’
– ‘If you love your sister, get her on the phone and make an appointment for her. I’ll show her and her husband how to get started.’
– ‘No, I’ll see her this weekend at the cocktail party.’
– ‘No, no, no, no, no. The enthusiasm from this type of meeting, believe me, goes out with the carbon monoxide. If you love your sister, get her on the phone now and make an appointment.’
He does that with everybody, he’s very good and you know what? He gets a lot of referrals.
One of our top producers uses an analogy that buying a mutual fund is like getting a slice of cake –
No matter how thick or thin, the ingredients are the same – well, it’s the same with the fund.
When she opens the account, she sends people a cake to remind them of the presentation. She made a deal with a baker and got a very good price on the cake.
Now when she opens a new account, during the day her assistant calls the baker with a name and address and out goes the cake. She says “Don, from that cake, I get all my referrals”.
I said ‘How do you get referrals from a cake?’
She said ‘Well, simple, nobody eats cake alone.’
The neighbors come in for cake and coffee, cakes go to picnics, parties and family reunions. She puts a card in, ‘When you’re sharing my cake, share my name, I love you so-and-so.’
I told that story to a young guy a few years ago in Birmingham, Alabama who was with Edward Jones.
He wrote to me that he uses pies instead of cakes. He’s already sent out 200 pies from that idea.
So I’m going to suggest: if you’re not getting referrals, you’re not asking. If you’re asking and not getting them, you’re thinking too much about yourself. Think about the people you can help. You’ll almost command referrals just to help them financially.
There’s a section about prospecting and referrals in the Don Connelly 24/7 learning center. Watch the intro video below and start your trial today!
* The video podcast “How to Ask for Referrals” first appeared on Don Connelly 24/7 – Professional & PLATINUM members have free access to hundreds of audio and video podcasts, and more.