Intro to RCM
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90 minute presentation on referral-centric marketing
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Intro to RCM
- 1. Referral-Centric Marketing TM For a Steady Flow of Perfect Prospects
- 2. Who’s in the room today? Please Introduce yourself Name, Title, Company “For me, referrals are…”
- 3. Why are referrals so valuable? Referred prospects are… Easier to engage Likely to be more loyal Easier & quicker to close Less sensitive to price issues Given direct or indirect testimonials Cost effective leads for small businesses Gifts you get while you do other work
- 4. We believe… …referrals are a vital source of new customers for our businesses.
- 5. We believe referrals behave like…
- 6. 6 Laws of Electro-Magnetic Referrals 1. Energy 2. Direction 3. Compatibility 4. Polarity 5. Proximity 6. Impedance
- 7. Referral-Centric MarketingTM… …shifts marketing efforts from chasing prospects to developing and nurturing referral relationships
- 8. Referral-Centric MarketingTM… 100 …turns Subtracting into Multiplying! 10
- 9. Referral-Centric MarketingTM… Referrals are gifts Thoughtful selection Artful wrapping Personal exchange Gracious acceptance
- 10. Referral-Centric MarketingTM Relationship Circles Acquaintances Amiables Advocates
- 11. Referral-Centric MarketingTM Relationship Intimacy Know Acquaintances Like & Trust Amiables Committed Advocates
- 12. Referral-Centric MarketingTM Receiver Messaging Inform Know Acquaintances Connect Like & Trust Amiables Engage Committed Advocates
- 13. Referral-Centric MarketingTM Giver Actions Inform Know Reactive Acquaintances Connect Like & Trust Responsive Amiables Engage Committed Proactive Advocates
- 14. Referral-Centric MarketingTM Relationship Circles Inform Know Reactive Acquaintances Connect Like & Trust Responsive Amiables Engage Committed Proactive Advocates
- 15. Referral-Centric Mindset Be Yourself Build Networks Add Value Touch Lives Stay Open
- 16. Referral-Centric Action Plans 1. Authenticity (Be Yourself ) 2. Engagement (Build Networks) 3. Enrichment (Add Value, Touch Lives) 4. Reception (Stay Open)
- 17. 1. Authenticity Plan 1. Know your “Why” 2. Define your market 3. Identify customer needs 4. Bullseye prospect profile 5. Compelling value proposition Align your “Why” with Bullseye Prospect
- 18. 2. Engagement Plan Build your Relationship Circles 1. Inform Acquaintances 2. Connect Amiables 3. Engage Advocates Develop a plan – Target each ring – Set goals – Track efforts and results Engage and energize your Advocates
- 19. 2. Engagement Plan • Collaborate – Bullseye prospect profile – Create a prospect list – Share prompting lists • Ask for referrals – Who do you know…? – Don’t keep us a secret… Extend your referral circle
- 20. 3. Enrichment Plan • Create “Wow” moments • Say thank you • Connect emotionally • Own & fix mistakes Perform random acts of enrichment
- 21. 4. Reception Plan • Commit to your Advocates Acquaintances • Accept what you get Amiables • Be prepared to respond • Close the feedback loop Advocates Let no opportunity go unfulfilled
- 22. What should I do next? Action Plan Clinics (4 sessions) Acquaintances 1. Authenticity Plan – Authenticity Assessment Amiables 2. Authenticity Plan – Bullseye Prospect Profile Advocates 3. Engagement Plan – Marketing Mix Matrix – Referral Scenarios 4. Enrichment & Reception Plans – Advocate Agreements
- 23. Action Plan Clinics Acquaintances Four 2-hour sessions Amiables Monday’s on Mercer Island Dates Advocates #122 10:00am – 9/24, 10/8, 10/22, 11/5 #123 1:00pm – 10/8, 10/22, 11/5, 11/19 #124 10:00am – 10/29, 11/12, 11/26, 12/10 Cost $96 all four sessions through 2012
- 24. Follow-Up Resources Books Start with Why: How Great Leaders Inspire Everyone to Take Action (Simon Sinek) Endless Referrals (Bob Burg) The Referral Engine (John Jantsch) The Go-Giver (Bob Burg & John David Mann) Go-Givers Sell More (Bob Burg & John David Mann) Give Your Elevator Speech a Lift (Lorraine Howell) Creating a Collaborative Enterprise (Bob Nitschke)
- 25. Follow-Up Resources BizEnrich Experts Ron Kranz (biz coaching) Lorraine Howell (messaging) Zita Gustin (networking) Michael Hartzell (inbound marketing) Pete DiSantis (DIY social media) Bob Nitschke (collaboration)
Editor's Notes
- More money is “left on the table” by salespeople who fail to ask for referrals after a successful sales presentation than in virtually any other phase of business.Pull marketing is about people become aware and then attracted to us. Obviously the larger the network the more the community can become aware of our value…the know piece and perhaps like. Referral sources bring in the like and trust piece. I am looking to referral partners as a specific strategic relationship that is a select subset of network and referral sources. Build the network and strategically select those elements that synergistically allow us to find and engage our ideal clients, and to serve and provide value to our clients. Purposeful and strategic relationships build businesses…networks and referral sources expand them.
- The best source…My only source… A critical source…Do you have a plan for your referral marketing?
- Let’s start with how referrals behave in the marketplace.In fact, let’s talk about magnets. Not just any magnets. We’re going to talk about ELECTRO-MAGNETSElectric motorsLoudspeakersJunkyard cranes
- Focus on relationships, not transactionsTreat everyone as a referral source, NOT a prospect
- Start with 100 prospectsFilter (subtract) and discard the prospects that won’t produce a transactionAgain, again, again until you end up with 1-10 paying clients.You’ve just discarded 90-99 opportunities to uncover their network of prospects Now, start with the same 100 people Let’s assume each of them knows 100 people that they interact with on some level of regularity.100 X 100 = 10,000 opportunities to uncover your perfect prospects.
- Start with 100 prospectsFilter (subtract) and discard the prospects that won’t produce a transactionAgain, again, again until you end up with 1-10 paying clients.You’ve just discarded 90-99 opportunities to uncover their network of prospects Now, start with the same 100 people Let’s assume each of them knows 100 people that they interact with on some level of regularity.100 X 100 = 10,000 opportunities to uncover your perfect prospects.
- Don’t confuse effort with resultsReferrals are the results of all your efforts to:Be Yourself, Build Networks, Add Value, Touch Lives, and Stay Open.
- Referral mindsetGo-GiverThe YOU Factor
- Be Yourself = Be true to your self Stay focused on your perfect client Carve your market nicheDefine your marketAssess supply & demand Know your customers Why they buy from you Buying channelsBuying influences and behaviorsEmotional buying reasons or triggersCraft your bulls-eye customer profileDemographicsPsychographicsCreate a compelling value proposition based on Your passions and expertiseYour bulls-eye client needs
- Stop chasing prospective clients. Turn on your referral electromagnet. Build your Referral Circle Acquaintances to know youAmiablesto know you, like you and deliver your messageAdvocates with a commitment for successDevelop a planTargeted for each ring of the circleSet goals (activity & outcomes)Track efforts and results
- Nurture your referral relationshipsCreate a collaborative relationshipShare your ideal client profileShare your prospecting listUtilize LinkedIn connectionsIndividuals, groups, companiesPrime the “ask” with a prompting listKnow how & when to ask for referralsStart with ‘who’ not ‘do’ and work ‘is another renter or first time buyer like you’ into your question.” Extend your referral circle Connect it through other circlesNetwork in the business communityTrain your advocates to know how to network for youTeach them how to recognize a good prospectDescribe your ideal client with specificsGreat Referral Advocate Relationships:Are based on realistic expectations Take work and thoughtfulnessNeed communication know-howTurn negatives into positivesMean sacrificesTake commitment from all parties
- Wow moments are priceless and so easyCreate them throughout your entire relationship with prospects and clients
- Give with intentionality and intensityCommit to learning as much as you can about your AdvocatesAccept what you getBe prepared to respond to opportunities Let no opportunity go unfulfilled