Forget About Referrals,
Get Introductions

How to get introductions

Building your business through introductions is a much smarter strategy than cold calling to bring in new business. Cold calling percentages are low and it’s a very frustrating process. Some of the advantages of having your prospects come from introductions calls are:

• The prospect is more likely to take your call
• Trust is built more quickly
• Less rejection
• A much higher percentage chance of closing the business

Referrals have gotten a bad name and connotation from over-use in the insurance business. Asking for introductions is far less intrusive.

When is the best time to ask for introductions?

• After you have spoken with a prospect who has not had interest in your product or service, but there was a lot of personal connection. It might sound something like this: “George, it sounds like I can’t help you, but you may be able to help me. Who do you know who might be open to improving efficiencies in…?”
• At networking and social events
• When you have done something extra for a customer or when they are particularly pleased with your product or service

How to ask?

The worst way to ask for an introduction is, “Do you know anyone who might be interested in…?” It’s a closed-ended question and the recipient can only answer yes or no and it’s far too easy to get a negative response. You need to say something like, “Who do you know…?” When asking the question, you need to paint the picture of your ideal client. In my experience, I might ask, “Who do you know who has a small to medium sized business, who is frustrated with their current level of sales?” If possible, try to define that picture and the type of introduction you are looking for, such as size of company, type of business and at what level you would like to be referred in (VP, President, or CIO). Otherwise, you can end up with someone who is not at the right level.

The following are some additional verbiage to help you in crafting your own strategy:

• “I’m looking to take my business to the next level. One thing I could do is advertise, do direct mail or maybe even do some cold calling. But it doesn’t seem economically smart to do that when I have good clients like you who probably know people who I could help. Do you have any suggestions?”
• “Have we helped you? I thought you might say that. Usually when I do a great job, clients will sometimes feel comfortable introducing me to someone who might benefit from my services like you have. Since you hadn’t, I was concerned that I had fallen short of your expectations.”

What you should say when you talk to your introduction:

• “I find all successful people have one thing in common and you probably aren’t any different, they want to help people improve and be successful. Who could you introduce me to…”
• “It is nice being associated with you and your company. I’d like more clients like you. Could you introduce me to…?”
• “How long have we known one another? I not only appreciate your business but also our relationship. In all the time we’ve been doing business with you, I’ve been reluctant to ask you for introductions. My goal this year is to increase my business through the help of my top clients who I’ve really helped. With new introductions, I don’t have to spend so much time doing new business development and I can devote more time to my existing customers… I don’t want to put you on the spot, but I was wondering if you could help me out by introducing me to companies like yours who…”

If you have a good relationship with the person you are requesting an introduction from, you can ask the person to spend 10-15 minutes going through their database to see who might fit your prospect profile. When you receive the names of those introductions, it is then best to ask if the person making the introduction if they would feel comfortable calling the prospect in advance and saying something like, “I’ve know John (you) for some time and know he has been able to help other companies with… I’m not sure he could do the same for you, but would you be open to receiving a phone call from him to explore it further?” This way your customer doesn’t feel like they have to sell your services and they can see if the prospect is open to discussing the situation with you. It also preserves the customer’s relationship with their associate. This is an important step because after this phone call the prospect is not only expecting your call, they have heard good things about you and you are much more likely to get a positive introduction.