News & Research Archive

LEARNING TO MAKE MONEY ON WORD OF MOUTH REFERRALS

May 10, 2006

 

 

No matter what type of sales product or service you have, over 80% of any sales that you generate will come from word of mouth. Someone that you have sold to before, a friend, a college roommate, or even your mother, will pass your name to someone that also needs your product or service. In fact, most people are more than willing to offer a name if someone asks them if they know of someone that can help them.

 

Therefore, as a salesperson everything you do must be aimed at getting these word of mouth referrals.  So what do you have to remember?

 

First, it starts with your initial sales. Ask yourself, did I provide such a good service to my customer that they would be willing to buy from me again, or tell someone else to buy from me in the future?

 

Second, did I let them know that if they felt I did a decent job that I would appreciate them passing my name along to anyone that they believe may need my product or service?

 

Third, do I have a system in place where I am staying in touch with my past clients effectively so that they will continue to remember me when someone asks for help that I could be of service to?

 

Fourth, am I using my existing sales contacts to possibly refer business to other vendors that in turn may one day refer business back to me?

 

All of the above can be considered textbook 101 in sales, but the majority of us do not spend the necessary time cultivating new business opportunities from old business contacts. We seem to prefer working constantly on new opportunities.

 

Wouldn’t it be easier and wouldn’t there be more loyalty in terms of these possible word of mouth referrals than starting with brand new business opportunities each time?

 

 

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Written by: Hans Hansson

E-mail: hans@starboardnet.com


Hans Hansson is President of Starboard TCN Worldwide Real Estate Services as well as a member of the Board of Directors for TCN Worldwide Real Estate. Hans has been an active broker for over 21 years in the San Francisco Bay Area and specializes in office leasing and investments. If you have any questions or comments please email hans@starboardnet.com or call him at (415) 765-6897. You may also check out his website, http://www.commercialspacefinder.com/.

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