Getting people talking and excited about your business is one of the best ways to market it.

Pssst, want to know a secret? You are sitting on a pile of assets that could turbo charge your sales and business and you probably don’t know it! If it is the case then you have hidden assets, which will soon be revealed to you.

Before the revelations, let’s just think about the most important decision or innovation you have to make to take your good business to a great business. Anyone trawling for the catch that will transform business results will drop their lines into areas of their business that have deep impact.

Here you would be fishing for better financial, marketing, leadership, recruitment and systems outcomes. And working for these results is both sensible and crucial, however, because of the nature of all businesses, I would argue that the area where most of us can always be better at is lead generation and conversion.

Of course, both these are door-opening processes for more sales links into your marketing plan but generally there is so much to learn. I am always on the lookout for better ways to do it. And US business guru Jay Abraham is a big advocate of the fact that so many of us ignore the hidden assets in our business that can generate more leads. These minable gems in our operations and some outside the square generating techniques are the key offerings in what follows below.

Get the message out
I spoke with some of Australia’s premier business speakers and specialists in lead generation and conversion to pick their brains. John Lees, who was once the marketing manager of hair care giant Schwarzkopf, pioneered an innovation of creating a board of clients – big and small – who he would take to a great restaurant or hotel. He gave them a special experience and simply asked for their feedback.

“I asked what we were doing right and what we could do better,” he explains. “Your clients are a great source of information on how to generate more leads.”

He says that he met with leading brokers on several occasions and since the majority were running small businesses, they tended to aim for leads by spending the least amount of promotional money on letterbox drops and the like.

“According to the top performing brokers, they send out many of these letters and get a reasonable number of leads,” Lee reports. “However, having studied what their letters have to say, they could attract far more leads if they stop promoting ‘products’ and started offering serious benefits to people.”

Many rivers to cross
Client service expert, Martin Grunstein, suggests a total marketing audit and be realistic by putting yourself in the shoes of potential borrowers. He points to the fact that so many brokers, just like any other business, push their name forward, thinking the name will actually generate leads.

He says you have to project to the top of your marketing material the most important message for lead generation. “Tell them why people should buy from you. If the offer is great they will go searching for your name and number.

He warns against competing on price and recommends value adds to make your service irresistible. He also advises that you work hard on collecting referrals from happy borrowers because these people can be your best advocates.

Keith Abraham, keynote business speaker, says you can create ‘rivers of referrals for your business’. “The smartest way to build any business is to work off client referrals,” he says.

“In today’s marketplace borrowers have so many choices on where to purchase their products and services from, so it is no wonder that people get confused on which product to purchase.”

He insists brokers’ main goal should be to create a point of difference that makes you memorable, unique and drives a wedge between you and your competitors so that the choice on where to purchase your product from is an easy one for your borrowers. “The by-product of this action is the creation of rivers of referrals for your business.”

Referral strategy
Abraham says referrals are the most powerful form of marketing there is available and, more importantly it is very cost effective. He thinks there are nine ‘must do’ strategies.

1. Plant the seed with your client
Let your client or prospective client know that you like to work off referrals in your business. So, if they are satisfied with the product and service you provided to them, then would they consider referring you onto their friends, like-minded people and associates?

2. Tell referral stories at meetings
Share stories of other clients that have been referred to you for your services. It may be as simple as relating a situation about some of your clients that have been referred to you.

3. Check if the client is 100% satisfied with you
After you have completed the sale, check if the client is totally satisfied with their purchasing experience.

Mention to your client that over the next month they may find that some of their friends and associates may be interested in finding out more about how their new product is working for them. If so, just let you know and you would be happy to send them some information or meet with them personally.

4. Ask for referrals from your clients
Before you ask for referrals think about your approach with your client. A phrase you could use is: “Do you know anyone that would benefit from a simular service experience as much as you have?” You may want to share with the client the profile of whom you like to work with in your business.

5. Consider four ways to contact the referrals
o Call them and use the client’s name as a point of reference
o The client can call the referral and then you call them
o Your client can write to them with your details or brochure and then you call the referral
o Finally, one of the best ways, but also the most difficult, is to set up a three way meeting between you, your client and their associate who they want to refer to you

6. Think about your approach to the person who has been referred to you
Write out your approach and script it but don’t read it. Prepare yourself mentally so you can produce the best possible physical effect.

7. Contact the prospective new client
All referrals have a shelf-life, so don’t take forever to contact them.

8. Give feedback to your client
It is important for the continuation of the referral process that you get back in touch with your client and let them know what happened with the person they referred to you. Thank them for helping you build your business and their support.

9. Reward borrowers who give referrals
Always remember what gets rewarded, gets repeated. If you want to get your client to give you additional referrals, write them a note to say thank you or send them a small gift. Whether anything happens as a result of that referral or not, reward them.

A final point – don’t be afraid to talk about your business wherever you go. Work out subtle ways to talk up the value of your business to borrowers and you will plant the seed and generate leads that are easy to convert.

By Peter Switzer, published on 3/03/2009

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