How do you get referrals from cold or warm leads?

1 Build rapport and value

Before you ask for a referral, you need to establish a positive relationship with your lead and demonstrate your value proposition. This means you need to do your research, understand their pain points and goals, and offer relevant solutions. You also need to communicate effectively, listen actively, and show genuine interest and empathy. By building rapport and value, you will increase your credibility and likability, and make your lead more willing to help you.

2 Identify potential referral sources

Not all leads are equally likely to give you referrals. Some may have a large network of contacts, some may have a strong influence or authority, and some may have a high satisfaction or loyalty level. You need to identify the potential referral sources among your leads, based on these criteria. You can use tools like LinkedIn, social media, or CRM software to find out more about your leads' connections and activities. You can also ask open-ended questions during your conversations, such as "Who do you usually work with?" or "What are some of the challenges you face in your industry?"

3 Ask for referrals at the right time

Timing is crucial when asking for referrals. You don't want to ask too early, when your lead is not ready or comfortable, or too late, when your lead has lost interest or forgotten about you. You want to ask when your lead is most engaged and satisfied with your interaction, such as after you have delivered a great presentation, solved a problem, or closed a deal. You also want to ask when your lead is in a good mood, relaxed, and receptive, such as at the end of a call, meeting, or email.

4 Make it easy and specific

One of the reasons why leads may not give you referrals is because they don't know how or who to refer. You need to make it easy and specific for them, by providing clear instructions and suggestions. For example, you can ask them to introduce you to someone via email, phone, or social media, and give them a template or script to use. You can also ask them to name one or two people who fit your ideal customer profile, and explain why they would benefit from your product or service. You can also offer them incentives or rewards for giving you referrals, such as discounts, bonuses, or gifts.

5 Follow up and thank

Once you get a referral from your lead, you need to follow up and thank them. This will show your appreciation and professionalism, and encourage them to give you more referrals in the future. You can send them a thank-you note, a testimonial request, or a referral feedback survey. You can also keep them updated on the progress and outcome of your referral, and share your success stories and results. By following up and thanking your lead, you will strengthen your relationship and trust, and create a positive referral cycle.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?