The Importance of Sales in Networking
The Importance of Sales in Networking
You have to make it clear that you know how to sell, that you can and will provide the products or services you're expected to provide, and that your customer will be happy with both the process and the result--which will reflect favorably on the provider of the referral. If you can’t make that first “sale,” your potential referral source won’t become your referral provider, because she won’t be inclined to risk her relationship with the prospect. That is, she won’t do her part to sell the referral. Two separate studies, the one I conducted in the early '90s and another one conducted in Florida in 2006, found that approximately 34 percent of all business referrals turn into sales.
This is an outstanding number, but it’s still not 100 percent. Therefore, sales skills are still important in networking. Having the knowledge and skill to generate the referral, then having the knowledge and skill to close the sale, gives you the one-two punch.
Beyond selling yourself to the referral source, you have to sell yourself to the prospect to get that first appointment. Yes, the referral helps a great deal, but you’ve still got to convince the prospect that the appointment is worth his time and likely to result in a favorable outcome. You should avoid being aggressive, indecisive or evasive at this point; the prospect, having been in contact with your referral provider, is expecting a high level of respect and professionalism in your approach. You can and should be confident that a mutually beneficial deal is in the works, and you should communicate this to the prospect by your attitude and actions. Strive not to embarrass your referral source.
Then, once you've made the appointment, you have to persuade the prospect to buy your product or service. This is the part that usually comes to mind when you hear the word "sale."
Your integrity is paramount at this stage. The prospect should know exactly what to expect--no hidden charges, no unexpected exceptions, no bait-and-switch.
Even if you’ve created a highly efficient system of generating referrals for your business and you see a steady stream of referrals being funneled to you, there's no guarantee you'll be capable of closing any of them.
Note, however, that in referral marketing, closing the deal with your prospect is neither the beginning nor the end of the selling process. To get to this point, you'll have made at least two other "sales," as noted above. And in order to build and maintain the long-term relationships that characterize referral marketing, you have to follow up with both your new customer and your referral provider--again, part of the total sales process.
Remember, the number-one rule in referral marketing is to make your referral provider look good. You need to demonstrate that you know how to sell to the prospect in a way that doesn’t embarrass the source of your referral--that you’re going to consult with the prospect, discover his needs, offer solutions based on those needs, give him some options and not force a sale if you know you can’t provide a good solution.
On the other hand, if your technique is to hold the prospect hostage at his kitchen table until he breaks down and buys, your referral source won't be pleased that you’ve abused your relationship with her and damaged her relationship with the prospect. You may get the deal, but you’ve shut yourself off from further deals with that client--and with any future referrals from your source.
The bottom line about sales in referral marketing is this: If you’re not comfortable with sales, or if you haven’t been professionally trained, sales training is an investment worth your while. It'll serve you well in every aspect of relationship marketing and referral networking.
________________________________________
Called the father of modern networking, Dr. Ivan Misner is a New York Times bestselling author and Founder of BNI (www.bni.com), the world’s largest business networking organization. His latest book, Truth or Delusion can be viewed at www.TruthorDelusion.com. Dr. Misner is also the Sr. Partner for the Referral Institute, an international referral training company (www.referralinstitute.com). He can be reached at misner@bni.com .
The Importance of Sales in Networking - To learn more about this author, visit Ivan R. Misner's Website.
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First, you have to sell yourself to your potential referral source--she has to buy the concept that there’s value in introducing you to someone she knows. A referral is not a guaranteed sale; it’s the opportunity to do business with someone to whom you've been recommended. You still have to close the deal.
You have to make it clear that you know how to sell, that you can and will provide the products or services you're expected to provide, and that your customer will be happy with both the process and the result--which will reflect favorably on the provider of the referral. If you can’t make that first “sale,” your potential referral source won’t become your referral provider, because she won’t be inclined to risk her relationship with the prospect. That is, she won’t do her part to sell the referral. Two separate studies, the one I conducted in the early '90s and another one conducted in Florida in 2006, found that approximately 34 percent of all business referrals turn into sales.
This is an outstanding number, but it’s still not 100 percent. Therefore, sales skills are still important in networking. Having the knowledge and skill to generate the referral, then having the knowledge and skill to close the sale, gives you the one-two punch.
Beyond selling yourself to the referral source, you have to sell yourself to the prospect to get that first appointment. Yes, the referral helps a great deal, but you’ve still got to convince the prospect that the appointment is worth his time and likely to result in a favorable outcome. You should avoid being aggressive, indecisive or evasive at this point; the prospect, having been in contact with your referral provider, is expecting a high level of respect and professionalism in your approach. You can and should be confident that a mutually beneficial deal is in the works, and you should communicate this to the prospect by your attitude and actions. Strive not to embarrass your referral source.
Then, once you've made the appointment, you have to persuade the prospect to buy your product or service. This is the part that usually comes to mind when you hear the word "sale."
Your integrity is paramount at this stage. The prospect should know exactly what to expect--no hidden charges, no unexpected exceptions, no bait-and-switch.
Even if you’ve created a highly efficient system of generating referrals for your business and you see a steady stream of referrals being funneled to you, there's no guarantee you'll be capable of closing any of them.
Note, however, that in referral marketing, closing the deal with your prospect is neither the beginning nor the end of the selling process. To get to this point, you'll have made at least two other "sales," as noted above. And in order to build and maintain the long-term relationships that characterize referral marketing, you have to follow up with both your new customer and your referral provider--again, part of the total sales process.
Remember, the number-one rule in referral marketing is to make your referral provider look good. You need to demonstrate that you know how to sell to the prospect in a way that doesn’t embarrass the source of your referral--that you’re going to consult with the prospect, discover his needs, offer solutions based on those needs, give him some options and not force a sale if you know you can’t provide a good solution.
On the other hand, if your technique is to hold the prospect hostage at his kitchen table until he breaks down and buys, your referral source won't be pleased that you’ve abused your relationship with her and damaged her relationship with the prospect. You may get the deal, but you’ve shut yourself off from further deals with that client--and with any future referrals from your source.
The bottom line about sales in referral marketing is this: If you’re not comfortable with sales, or if you haven’t been professionally trained, sales training is an investment worth your while. It'll serve you well in every aspect of relationship marketing and referral networking.
________________________________________
Called the father of modern networking, Dr. Ivan Misner is a New York Times bestselling author and Founder of BNI (www.bni.com), the world’s largest business networking organization. His latest book, Truth or Delusion can be viewed at www.TruthorDelusion.com. Dr. Misner is also the Sr. Partner for the Referral Institute, an international referral training company (www.referralinstitute.com). He can be reached at misner@bni.com .
The Importance of Sales in Networking - To learn more about this author, visit Ivan R. Misner's Website.
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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