The Fastest Way to Grow Your Business

By Jeff Bajorek

I recently finished a project with a client building a new business development motion. Their biggest differentiators in the market are their consistent level of professionalism and excellent work.

Those are great to have. Unfortunately, anybody can make those claims in their marketing. How do you know they’re true?

I recommended they start consistently asking for referrals from the clients they like working with. It’s going to be the fastest way for them to grow, utilizing social proof to not only cut through the rest of the marketing noise but also immediately boost credibility.

They started. It’s working.

The Referral Gap
I did some research for this piece and was a little frustrated.

Apparently there’s a marketing study out of Texas Tech University in 2018 that said 83% of customers polled would be willing to make referrals, while only 29% proactively do so. I found this study “cited” so many times without an actual citation that it’s the biggest myth since the Loch Ness monster, except I actually found her two summers ago on our trip to Scotland.

Another study (often referenced, never cited) attributed to the Dale Carnegie organization claimed that 91% of customers would be willing to offer a referral, but only 11% of sellers were willing to ask.

Quite frankly, I don’t care if these numbers are exact. Sure, it would be nice to prove the point, but deep down, the concept passes the say-it-out-loud test.

You’re not asking for enough referrals. Nobody is. Whether the gap is 54% or 34%, there are easy sales being left on the table.

Despite the fact that you could, and you have customers who would be willing to, you don’t ask for the referrals you should be.

You’re not comfortable asking for another thing
The stories we tell ourselves are the ones we listen to the most.

Those (alleged) 11% that regularly ask for referrals don’t listen to the voice in their head that says they’re too much, that people don’t like salespeople, and that they should be concerned about overstaying their welcome.

Anecdotally, over the 20+ years of my sales career, those (alleged) 11% are the ones who believe enough in themselves to stand in their value and take up space.

They know what their best customers and clients value and deliver it- fearlessly.

They also know it’s so rare to know exactly what your customers need that it’s a gift that needs to be given to others.

Their best customers know this, too, and they’re happy to make introductions to others who need similar help.

I get it, it can feel awkward at first, but I’ve got a proven framework for you to help set those conversations up.

YouTube video by Jeff Bajorek
5 Questions for Killer Conversations - How to Have Difficult Talks That Strengthen Customer Bonds

1 Why did you buy from me the first time?

A simple question will get you a simple answer. One you can probably guess, but be careful not to assume. All we’re trying to do is get the conversation started.

2 Can you please be more specific?

Here’s where things get interesting. You need to provide a little bit of context to this question.

“The reason I’m asking is because I value our relationship and would love nothing more than to have a dozen more customer relationships like ours. What was the clincher for you to trust me enough to give us a shot?”

Here’s the key; don’t miss this: you’re letting your guard down here so they can do the same.

They stayed on the surface with their last answer for a reason. They felt that same awkwardness that you projected.

But now, you’re opening the door to a more vulnerable conversation. They’re probably not going there on their own; you need to open the door.

3 Why do you keep buying from us?

Pay close attention. The answers will be different than the answers to #1 above but don’t make any assumptions. What they’re about to give you is going to be gold.

Listen to what they say. Pay even closer attention to what they don’t.

Think they stay loyal because you bring bagels every other Thursday? Or because your QBR’s are held at that fancy steakhouse in town? Notice when they don’t mention those things.

They’re giving you the ultimate guide to keeping their business and in their own words. Don’t squander that opportunity.

Let’s pause here for a second…

There are two main benefits to the conversation you’re having at this point.

You’re deepening your relationship because you’re getting vulnerable with one another. That’s always a good thing.

You’re getting unbelievable market research and the best talk tracks in the world because they’re coming straight from the mouths of your best customers.

This is priceless. Even if the conversation doesn’t go any further, it’s been hugely beneficial.

But don’t stop!

4 Do you know anybody else who might appreciate this kind of value?

5 Would you be willing to introduce us?

These are the real money questions.

You’ve gone well out of your way to create an environment where you’re connected and talking about real business value. There’s never been a better opportunity to ask for referrals.

While you’re at it, you might as well ask for the intro.

If referrals are gold, introductions are platinum.

Who ya gonna call?
Before you get too excited, remember a couple of things…

You’ll never have a better day in sales than when you fire your worst customer.

Don’t be afraid to be a little picky about who you ask these questions. You want to replicate your best customers, not the bad ones.

Off the top of your head, you know three or four people you want to talk to about this.

Your “homework” is to schedule those meetings. You can do this!

Jeff Bajorek is a sales consultatnt who helps sales teams design and implement their sales strategies with a focus on the fundamentals, and by noticing what others don't.

Website: www.jeffbajorek.com