When you’re on the receiving end of a referral, you might feel
tempted to take some shortcuts and go for the deal as quickly as possible.
After all, you were recommended by someone they know, like, and trust.
But shortcuts rarely work in sales for us bankers, no matter where a prospect comes from. Getting a great referral is banking nirvana, and over the years I've discovered a few wrinkles in the buying process that makes converting them even more likely...or less risky...and that's what this week's video is all about.
1. Not all referrals are considered equal. The more involved the referral source gets, especially early in the process, the stronger the recommendation is perceived by the referral themselves.
2. Whatever you do, don't forget that even though you may feel like you're further along, the referral is still starting at step one of the buying process, and will move through the whole thing before they choose you.
3. With great reward there is also great risk. Execution on your part is even more important with referrals given there is more at stake than with a regular prospect.
Matt Middendorp is a nationally acclaimed speaker and sales coach with over 20 years of experience turning connections into customers and advocates. In 2013, Matt founded Sales Math, and debuted his “Formula for Success” sales training system to bankers across the country. From the beginning, Matt’s clients have experienced learning that is fun, meaningful, and makes a difference in the real world. Today, Matt’s core philosophies of “Learn Together, Do Together, Grow Together” are taught through in-person coaching, online as part of the Cool Bankers Academy, and by his leadership of the Cool Bankers Club Facebook Group. His clients are making their goals faster and easier based on the confidence and skills gained from learning a sales process tailored to ensure they aren’t “just another banker” in the communities they serve.
And I promise absolutely no spam!