Referrals are the lifeblood of every business, especially your network marketing business. If you are building your business the right way, you should get AT LEAST two referrals from every person you talk to about your business. So if you prospect 50 people this month, you should have an additional 100 referrals.
Please note that this won’t happen by accident. In other words, referrals won’t just fall into your lap. You need a game plan and strategy to get referrals. What I’d like to do is take a moment or two and share some of my insider secrets. Here are some tips I recommend you use to get more referrals for your MLM Business.
1. Live the “Golden Rule”
The Golden Rule talks about treating everyone the way you want to be treated. That means that you treat people with respect and basic courtesy, whether they join your team or not. You show up on time, never a minute late. You do what you say and say what you do. You don’t pre-judge anyone and you treat others as well as you would treat your own mother.
You might even want to take it a step further and follow the Platinum Rule. That’s what I call it anyway. Rather than treat everyone the way YOU want to be treated, treat people the way THEY want to be treated.
Do the little things that most business owners don’t do. The little things really do matter.
2. Be a Professional
Obviously, if you follow the steps I just mentioned in tip # 1, you will be on your way to being a network marketing professional. Other aspects of being a network marketing professional include product knowledge, industry knowledge, dressing like a professional, using proper grammar and vocabulary, never speaking badly of others, and having integrity. Let’s face it, people are NEVER going to give you a referral if they don’t think they can trust you. Be a professional. Look and act the part.
Act as if you have one million dollars invested in your business. You must act like a six figure earner before you will ever become one. This means you take pride in what you do.
3. Ask for Referrals
Your next step is to ASK for referrals. Most distributors forget to do this. Immediately after you give a presentation (whether they join or buy or not) ask them for referrals. Ask them questions such as “who is the sharpest, most motivated person you know?” or “who do you know that would enjoy our products?” Be as specific as possible. Another good question is “which one of your closest friends would be interested in this product line or business opportunity?” Or, “can you give me the name of a doctor who might be interested in promoting our product line?”
If you just ask the prospect for a referral, the person will be confused and won’t be able to think of anyone. The best thing to do is be specific and describe the type of person you are looking for. The bottom line is that if you don’t ask, you won’t get referrals for your MLM Business.
4. Create a Referral Program or Compensate People for Giving You Referrals
Don’t be scared to compensate people for giving you referrals. Send them a gift card, a cash bonus or free products for anyone they refer who becomes a customer or distributor on your team. Let them know that you take your business seriously and appreciate referrals. For example, if someone refers you someone who becomes a distributor and you make $100 profit for singing the person up, send the other person a $50 gift card or cash bonus for giving you the referral. Do this and I’m sure you will get even more referrals.
Remember that finding new customers is typically the greatest expense for most business owners. Don’t be stingy with your profits. Take good care of the people who give you referrals. They are a very important part of growing your business.
5. Always Follow Up When Someone Gives You a Referral
ALWAYS do two things when you get a referral from someone. First and foremost, call the referral to introduce yourself and try to schedule an appointment with them. Tell them who referred them and why. Next, call the person who gave you the referral to thank them and tell them that you contacted the person they referred. A little bit of communication goes a long ways. If someone goes out of their way to give you a referral, make sure you follow up and thank them.
When most people get referrals they never thank the person who sent the referral. That is a big mistake. A personalized, hand written thank you note will go a long ways to getting more referrals. Also, keep the person posted about what the person they referred has decided to do. They will really appreciate it.
In summary, referrals the lifeblood of your network marketing business. If you are building your network marketing business the right way, you should have a constant flow of referrals for your business. Make sure you follow the advice mentioned above and you will be well on your way to sponsoring more people and finding more customers.
What are your thoughts? What do you do to get referrals for your MLM Business? Leave a comment and let us know. I look forward to hearing from you.