The highest converting leads - referrals.

You need to make more sales, hit your targets for the month, or the quarter? Not enough leads coming your way from the marketing team? It's a familiar story that many Sales Managers hear over and over again.

Here's something that I do to make sure I keep on hitting my sales targets - I ask for referrals. Sounds pretty easy - well it is.

In most of the industries I have worked in the highest ratio of lead types that close are referrals. You have a much better chance of closing a sale with someone who is referred to you than you ever would from a cold call. Generally leads from referrals close at between 30-60%. Nice odds because all you need to do it to get two referrals and you will most likely make one sale.

'Awesome!'. I hear you say. You might want to head straight over to the Marketing Manager and ask them to do a referral campaign. No problem - you can do that but you can also ask for referrals yourself.

The very best time to ask for a referral is just after you have closed the sale. You've got their contract and have introduced them to your team to deliver the service or the implementation program - ask them now. I generally ask them in a email if they know someone else in another business/company/area of their business they think might be interested or benefit from the product or service I have just sold them. This is the best time to ask because they are in that happy honeymoon phase of a new client. They are happy with the decision they have made, they feel good about the deal you've done for them, and they know one of their problems is just about to be solved with the product or service they have just bought from you.

If you deal with current clients or accounts then the best time to ask them for a referral is just after you have done something awesome for them. So again when they are really happy with the support you are providing or with the product or service that you are supporting.

Want to see an email that I might send?

Here is an email referral template for you to use too if you wish.

Subject Line 1: (Direct) Can you please give me a referral?

Subject Line 2: (Cheeky) Sam, can I ask you for a favour?

Subject Line 3: (Indirect) How was your training session with Luther?

Hi Sam,

I hear that Luther from the support team has just set you up with your first training session. Luther said that you picked it up fast. How was it for you?

I was wondering if you might have a contact (and or their contact details) in another company you think would be interested or benefit from our software? I would love to contact them to tell them about our software and how it might benefit their business. I will of course look after them very well if they are a contact of yours and give them the best deal I can.

No problem if you can't think of anyone but I thought you might know one or two people to refer.

Thank you again and please do let me know how the training went.

Thanks

Just choose one subject line but I have given you three options for the referral email above.

So that's my insight on the best converting sales leads you can get - referrals. If you do use the email template to ask for a referral let me know how you go. Or even better if you have an email that works for you when asking for a referral please share it.