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Accelerating Referrals
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| Guest post by: Dale Furtwengler |
Article Overview: If you want better referrals, stop talking demographics and start talking about the values that drive your and your customers success.
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Free Download - The Discount Economy and It's Implications for the Future By Dale Furtwengler |
Accelerating Referrals
Over the years I’ve stumbled upon a lot of good ideas. My most recent foot fault is bringing in referrals at a rate that I haven’t seen in the previous 17 years I’ve been in business. What’s changed?
I’ve stopped defining my ideal customer in terms of demographics and begun identifying them by their values. My first experience in using values to identify ideal customers came from my involvement in a referral group, The Mastermind Network of St. Louis.
During the early stage of my membership, our members would be asked to recruit an estate attorney, plumber, photographer or some other profession. I noticed that we rarely found those people. At the same time I noticed that all of our members possessed the same values – integrity, dependability, genuine concern for others and a strong commitment to quality.
I suggested to the leadership that we might be better served by recruiting based on these values than on the type of business. When we began recruiting based on values our membership grew from 10 to 27 in a year. More importantly, the group took on more of a family feel because we all shared the same values.
Since then I’ve begun using the values approach with my business. I’ve identified my ideal customer as someone who possesses the following values/characteristics, which assure success for both my clients and me. Those values are:
• Integrity – in particular, they are honest with themselves about their strengths and weaknesses
• Confidence – people who lack confidence find it hard to make decisions which limits their ability to improve results
• Results Oriented – I care less about the magnitude of the result than the fact that they’ve been able to get results
• Action Oriented – when they hear a good idea, they run with it
When asked “Who is your ideal customer?” I respond with these four values.
What I’ve discovered is that these values resonate with the listener. They get excited about these qualities, which improves their memory of who my ideal customer is. When the listener subsequently communicates these values to others, they do it with a passion that demographics never achieve.
Interestingly, I find that the referrals I’m getting are exactly the type of customer that I’m seeking. Those, who don’t share these values, no longer approach me and I don’t waste their time or mine trying to establish a relationship that won’t work.
This values-based approach to identifying my ideal customer has worked so well that I’ve been coaching my clients on this system. The values differ from business to business, but once identified, produce the same type of result – accelerating referrals – for my clients.
If you want to accelerate the rate of referrals coming to you, define your ideal customer in terms of the values that exist in your most successful customer relationships.
Copyright 2009, Dale Furtwengler, all rights reserved
Article Tags: 17 years, concern for others, demographics, first experience, foot fault, genuine concern, integrity, leadership, mastermind, nbsp, photographer, plumber, profession, referral group, referrals, rsquo, strong commitment, times new roman
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About the Author: Dale Furtwengler RSS for Dale's articles - Visit Dale's website I help companies get higher prices regardless of what their competitors or the economy are doing. My book, Pricing for Profit, is available in 7 countries and is being translated into Chinese. To get a copy of my executive briefing, 10 Common Pricing Errors...and tips for avoiding them vist Pricing for Profit To discover how you can get SIGNIFICANTLY higher prices for your offerings, call Dale at 314-707-3771. Click here to visit Dale's website Making the EXCEPTIONAL Normal Part 4 The Trust Factor When Does the Foundation Become an Anchor Making the EXCEPTIONAL Normal Step 7 Initial Meeting Failure Cost or Investment Increase Profits Without Adding Resources Part 2 |
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