If someone hasn’t already made this clear to you, I will—cold calling sucks. It sucks for the person making the call and the person receiving the call.
In this digital age, in the age of social networking, there just has to be a better way...and there is.
Rather than making 100 cold calls today and only getting one or two people who don’t tell you no, eliminate all the time, hoping and guesswork that comes with cold calling and find someone within your network who already has an in with someone or some company that would be a good match for your service or product.
Porter Gale wrote a book called “Your Network Is Your Net Worth” and I couldn’t agree more with that statement. This timely and important message reminds us that it’s not so much what you know, but who you know that’s going to make your sales efforts more successful by utilizing the power of your online and offline connections.
Asking for referrals shouldn’t be stressful or complicated, but many people find that it is, whether they’re asking or being asked. To make it easier on both parties:
- Quickly build trust with your connections.
- Prove your expertise in your industry.
- Stay at the top of their minds by providing relevant information and referring them to new products or services you like and think they’d benefit from.
- And most importantly, continually nurture and strengthen the relationship; the better the relationship, the more willing someone will be to help you.
Ways to Drive More Conversion
I’ve discovered that there are three main ways to have better conversion rates.
- Use referral automation to scale intros.
Technology is your friend—use it to save yourself valuable time. A referral automation system is software that empowers you as well as those you know, like, and trust and makes it easier for those people to make 10 times the referrals they could’ve in the past.
Today’s marketing and sales age is based on building and strengthening relationships, so by making things easier for your connections to get what they need, the better your relationship and success rate will be. Personal connections are often one of the most valuable but underutilized assets in today’s business economy; recognize the value and don’t underutilize these assets.
A referral automation platform makes the referral process more efficient for both sides. For the person making referrals to you it only takes them a few minutes to sign up, they’re instantly shown matches online so the time-consuming process of thinking who they should refer is done for them, afterward everything is done via email, and there’s potential for great rewards. For you and your team, referral automation saves you hours of time searching for people, is a way to leverage your relationships, is a chance to discover hidden gems, can be integrated into your current CRM system, and can also be used to find talent and investors.
This way might mean you receive a lower quantity, but these referrals will be higher-quality and that’s what’s more important.
- Utilize digital assets and content hooks to quickly introduce your company and add value fast.
The American Marketing Association found that once engaged, referral leads convert 30% better than traditional marketing. But, digital assets can take that percentage up even higher.
Digital assets help people notice who you are and what you do. Creating valuable online content increases trust and improves relationships. It’s a way to become a thought leader and problem solver in your industry, both of which help people feel more comfortable sending a referral your way.
And there are several different forms of digital assets you can create. There are written ones, i.e. blog posts, guides, case studies, white papers, and infographics, and then there’s more interactive content, such as videos, podcasts, and webinars.
According to the Content Council, 61% of customers feel better about a company that delivers custom content. Know where a lead is in the buyer’s journey and then provide a custom piece of content that provides extreme value to that lead for a better chance of conversion.
- Entice them to visit your website so you can tag and retarget them.
Retargeting is also known as remarketing, and we’ve all been retargeted online. If you were browsing online looking at watches today, you better believe after leaving those sites without purchasing the next time you’re on Facebook ads for those stores and their watches will pop up on the side of your screen.
Retargeting is great. It helps you stay in the front of potential customers’ minds. It also shows your company has incredible online reach and is as large as your biggest competitor.
Here’s what your core retargeting strategy should include—getting referrals to visit a specific page of your website so you can tag and retarget them. You need them to visit more than just your homepage, which anyone can visit. So the next time you’re at a tradeshow, retarget everyone you speak to with the exact message you’re talking about at the event. Send them an email while you’re talking to them and ask them to click on the link you sent, a link to a page that general traffic can’t find or access.
Website visitors retargeted with display ads are 70% more likely to convert into paying customers. Who doesn’t want that high of a conversion rate?
The ability to more effectively drive more conversion from warm intros is one of the best ways to accelerate your business. Utilize the tools at your disposal to build trust and strengthen relationships with a quality network of people and then more efficiently convert leads into paying clients.