Let's Talk: Risk of Referrals

Less than 5% of clients give referrals on a consistent basis. Why is this number so low despite our efforts to deliver great service to our clients? I believe it is because of the inherent risk of referrals. When your client endorses you to somebody else, they put themselves at risk to loose two relationships. They have the chance of losing their relationship with their friend whom they have referred and they have a risk of breaking up their relationship with you. Not because of something they have done, but because of something outside their control. Because if the referral doesn’t work out with you, who are they going to blame? And if he loses his best friend, whom is he going to be upset with? You. That’s why people don’t make referrals, there’s too much at risk. But if you can find a stranger that they don’t know, and have them talk with the stranger about what it is like to work with you. This is a safe way for them to learn the Language of Endorsement™.

As the client answers the strangers questions he is building an endorsement script. So the more they are a reference with you, the more comfortable they becomes talking about you.

This is the simplest way to remove the risk of referrals.