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1 93 Referral Systems By: Jay Abraham. 2 93 Referral Systems Jay Abraham The Abraham Group, Inc. - All Rights Reserved This report not be. Multiply your business profits through the efforts of others with Jay Abraham's 93 Extraordinary Referral Systems. This is a must have sales training program. Abraham Publishing Group, Inc. – Confidential – For Your Eyes Only - All Rights Reserved. Page 2 of the referral generating systems Jay talks about that we can get I download this report and thoroughly digest it during my.
Interesting how much hypnosis is like this. Look for a compelling reason on their end for download your product or service. Don't be confused between a reason and a compelling reason. Step 4 is to find out from them what they think a solution would look like; how they think they can fix their current problem or enhance their situation. If you've got multiple solutions or multiple ways to fix their problem , then this step isn't a big deal, you get an idea of what they want and you can start to tailor what you do to what they want.
This point may make you ask the question do they really know what they need?
At that point, educate them; if they still don't want what you've got, then fark off. Step 5 is investment; find out what they're willing to invest in order to take care of this problem. This is the stage where you once again explore how bad the problem hurts, and what you're willing to invest to make the solution successful in terms of money, time, effort, etc 6.
If youre selling to anindividual, how is he or she gonna make that decision? If you're selling to a company or somebody who needs multiple approvals to make a decision, then what are the criteria of everybody involved in the decision making process?
What would make them comfortable 11 downloading your service or product? This is one of the beautiful things about a risk reversal, is it takes the risk right off of them; makes it MUCH more likely they'll feel comfortable downloading from you. Build a plan with them. This is how you're going to move thru and get them comfortable saying this is the way that I want to go, and this is what I want to do to download your product or service.
OR for you to have enough data to say I'm not the person to help you with your problem, and for you to refer them to somebody who may help them more. Show them what they need or want to see. You have to be careful not to oversell you have them, and keep talking, then you don't have them anymore.
The first steps are about gathering information; this step is about proving to them that you can give them what they want or need. In sales, intention is more important than technique; if you want the best for your client, they'll pick up on that, and there's room for forgiveness if you fuck up on the technique. If you just want to screw them out of their money, they'll pick up on that, too, and even with perfect technique, you'll have a hard time selling them.
During step 2, setting the agenda, what you want to do is find out what they want to get out of the meeting, and tell them what you want to get out of it, so you each understand what each other wants going in, so you can set up a reasonable time for a meeting or a phone call or whatnot.
Keep in mind that you're not asking them for the sales, you're not trying to set the agenda for the sales process, you're just trying to ensure you each get what you're expecting out of the meeting, so it canbe productive. Have a very structured second presentation, knowing that you're one of a very few people who will ever approach them like that.
Jay also talks about doing some sequential voice mails callthem once a day, once every 3 days, once a week, however you want to do it , just keep doing some additive stuffinto the voice mails.
What does it take, maybe a minute to pick up the phone, get to their voice mail, and leave a message Abraham is adamant that anybody in your business who deals with potential clients should be trained in consultative selling; if you can't afford to be trained init, grab a book or a tape set on it to learn the principles; it's such a powerful model.
When dealing with any sales structure Figure out what the marginal net worth and lifetime value of any new client is based on the worst case scenario. Then you can increase the first sale commission for your salesman You get a MUCH more highly motivated sales force obviously you have to make the offer conditional on them keeping up the same level of service or better as current.
You give your sales guys 10 times as much in the first hit, they're VERY highly motivated. On referrals: You should feel like you have a moral obligation to generate referrals, to get all of your clients to refer you.
It'd be great if you got a sale or a new client, sure, but that shouldn't be your end goal; you should be trying to help every one of their clients help their friends with anything you have to offer. You don't have to be pushy in order to get referrals; it's almost the opposite, you're asking them to help the people they love get the same value that they're getting. A lot of people are verynervous about offering cash incentives and about taking them.
Come up with something non cash based, preferably information oriented, that goes only to people who generate referrals to you might be a white paper, special report, whatever that hasthe benefit of giving you something easily reproducible, lowers your cost, makes them feel better about what they're getting, and you get to get all your referrals.
Consider creating different referral levels, so you can give your client different things when they hit different levels i. Do that and you canget many different and good referrals without the cash bonusthing that weirds so many people out. That's the value of your business. Lifetime value of a client is a HUGE concept. Even if you only break even, or lose money on a first sale, but can get them on a back end and keep them, if you canfigure out what they're worth to you over a lifetime, then you can do allsorts of stuffto entice them in that first time.
Even if you only have a 1 time product, the relationship is still valuable, you canstill get those referrals, you can use that relationship to get a huge lifetime value. Host beneficiary relationship is powerful if you have a very valuable service that's difficult to communicate to people until you have a trusted relationship.
Don't do things without planning a result; you don't have to sell with everycommunication or everyad, but it DOES meanthat you have to ask for involvement. Direct response marketing is a MUCH bigger concept than just sending out direct mail or emails.
Be VERY sure to capture names, whenever you're dealing with clients. Any client you ever deal with, ever sell anything to, make sure you have their names, email addresses, contact info, etc.
Those are your most powerful assets, if you don't keep those names, then you're basically throwing away all your marketing dollars. Unique selling proposition: This is the 1 thing you should be worrying about at all times. You have to get to the top of the list in your clients mind at the moment they're making the busing decision, and you do that by having a clear unique selling proposition clear meaning they think it's clear; remember, customer perception is the reality that you have to deal with.
USP is an additive process; you have to keep altering it to meet the needs of your clients. Also remember it's not about you. It's about what you can add to the lives and joy of your clients. Help them, and it's much easier to sell them. Think of public relations as earned media; it's not free advertising. But if they're not sold on it, then don't expect them to do a very good job in selling it to others.
Qualify leads up front; go in with the attitude if not the exact wording of I don't want to waste either of our time; I have a valuable service, and I want to know if you have a need for it now, later, or some enhanced version of what you're getting. OR, do you know of somebody who has a need for a service like mine.
Keep training and retraining people in order to allow them to develop a skill. The key to success in business is to focus on small incremental gains.
There are 34 times as many people who are interested, but not ready to download at the moment. The vast majority are disinterested. Your job is to stir interest in everybody. How do you do that? Basically, a headline. Customer vs. Client distinction. A customer is somebody who downloads something from somebody else, be it a service or a product.
A client, on the other hand, is somebody who is under the care, guidance and protection of an expertin the field. You should always refer to your customers as clients Remind yourself of the difference. Cause if they're your clients, then you have a moral obligation to be an expert, and to bring them as much information as you can.
Startout by telling them about a problem that they either know or don't know they have; then move onto how to solve it coincidentally, your area of expertise. Market data vs.
Market data is how you present stuffto your client.
It's all about how it affects them, how it helps them, how they're currently being hurtand how you canstop that. Granted this strategy takes a bit of work; you have to find out about all the different things that affect your clients in the field you're in. Example: Shoe store. They had all their salespeople trained in everything to do not just with shoes, but with the foot, with fashion trends, to be able to answer questions like how many pairs of shoes does the average woman have in her closet?
How much does the average foot perspireand various things like that. The focus used to be on USP as aunique selling proposition i.
What this means is getting to know everything about your industry, everything that canrelate to your clients, all the benefits you can bring to all the areas you do business in. As a consultant, you don't have to know more about a clients business than they do to be of value; you have to know more about their industry than they do, which is easy.
It's VERY hard to learn more about somebodys business if they've been in it for 10, 20, 30 years It's easy to learn more about their industry, because most people are so focused on their business, rather thanthe industry trends that will severely affect their business. You HAVE to know your marketplace. It's so important, and it gives you such a leg up on your competitors, who won't. Figure out what market data supports your strategic position; figure out what will motivate downloaders, the conditions that do that, etc etc.
You have to remember that at the end of the day, motivation comes from 2 factors. The problems that your prospect faces, and the solutions that you're offering and the problem is almost always more motivating thanthe solution. It just makes sense, set up the criteria such that they're going to download from you.
Make sure you're setting up the criteria that'llmake it much more likely for them to download from you. If you agree with the criteria at the end of a presentation, you'll reach a logical conclusion i.
Its what almost all good salesmen do Especially if they were told they didn't have to stay if they didn't like the 15 presentation, or had no interest? What would you do to draw in their attention, to keep them there? This is headlines again. Everybody should have a headline, something to the effect of The 5 things you have to know about your industry or The 4 most dangerous trends about whatever Get them reading, and get them drawn in.
Remember, you can be an expert on your product, but somebody who is an experton the marketplace is going to have times more credibility than you are. T hat support that somebody should logically do what you're offering. Find a story; figure out how to sell it. Don't just give your pitch The questions you ask to determine what information to give people, or look for: What would scare your potential clients?
What would make them uncomfortable? What conditions canyou set up to make them uncomfortable enough to download your solution s? Shift the downloading criteria some examples he gave, we're leftto figure out the rule on our own : Domino's pizza in It wasn't having a great pizza that was important, it was having it fast. FedEx When it absolutely has to be there over night. They're not doing anything different thanthe mail, just focusing on a different area. Rules for a slogan: It should describe what the product or service is unless your name already does that it should contain a benefit i.
Thoughts on setting up the headline or stadium pitch attention grabber. Motivate your downloaders to download more, and more often. Keep in mind, these are strategic objectives. There are plenty of tactics to get there.
The MasterMind Marketing System
Looked at another way, these are the questions you should be asking about how you want to do business. Additional strategy: How can you create brand loyalty at every turn?
This is where your USP comes into play. This is how you get into the minds of your clients.
It's how you set yourself apartfrom your competitors, so even if they do end up copying you later, you're already in the mind. Here's a great tactical suggestion: Whenever a prospective client comes in or calls you, say to them whether or not you download from us, here's the 5 things you should know about this industry. Here's what you should look for when comparing services. Set it up real nice for yourself. Make sure you consider these strategic objectives, which are great, but also make sure you consider what you can do at a tactical level to bring them to fruition.
Be the most sought after for information; if you can provide more info thanyour competitors, you'll get 16 a lot of leads just from that. Once you have somebody coming to you, it's a LOT easier to sellthem, thanif you're the one trying to get them on the phone. Dream strategy This candouble even fairly big businesses Figure out beforehand who your ideal clients are.
What's the size of the sale you want? How frequently do you want them to download? Over the next week or two, I want you to write or call five, ten, or 20 of your best customers, clients, or patients and tell them how much you appreciate the business they do with you.
And tell those highly valued people that you're trying to find more nice customers just like them, and you want their help in recruiting the new customers! Remember to revere the customer and revere the benefits of your product or service.
And explain to the customer why generating a continuum of referrals is integral to your ability to keep doing business the way you have it enables you to invest more time and money into the appropriate staffing, products, services, and other business aspects that ultimately benefit the customer. Give it a try. I guarantee you'll get more customers before the month is over.
Conceivably a lot more customers. And since it doesn't cost a thing in terms of advertising or commissions to generate substantial ongoing referral business, I hope you will jump at this chance to put one of my best, instant, no-cost leverage tools immediately to work. And don't forget: A referred customer or client will download a higher quality and quantity of product or service on average than customers acquired through general advertising or marketing. They will download more often.
They will download more products and services to add on to the initial download. They will refer more people and they will download for a longer period of time. Referral-generated customers or clients are the best category of business you can develop! So don't delay. It's time to mobilize the latent, untapped gold mine of referrals that are just sitting idle, waiting to be unleashed upon your business.
Don't let the opportunities in referrals pass you by. Believe me, they are golden! And, as always, I'd love it if you'd drop me a Page 7 8 line and tell me about your new referral system and the newfound profits it brought to your business. April Supplement Summary from Guerrilla Marketing The nineteenth Guerrilla marketing weapon is the referral program, again, based on the reality that your greatest source of new customers are old customers and all you've got to do is ask.
All of your customers have friends. They could recommend your business to friends.
They have relatives. They may attend a school. They may be connected with a business. They may be a member of a club. That means there are many people to whom they can recommend your business and if you have a referral program, it means you are contacting these people once or twice a year asking them for the names of people who might benefit from getting on your mailing list.
And because you take such good care of your customers, they're going to be very happy to give you the names of people who might benefit from getting on your mailing list.
Guerrillas know to ask for three names, maybe five names, never more than that. It's hard to come up with a lot of names. It's easy to come up with three names or five names.
When Guerrillas ask for these names in their referral program, they include a post-paid envelope. This is the time for you to furnish the stamp, but you'll find out that this drastically reduces the cost of you doing business because getting referral customers is a way of growing geometrically, the way that Jay Abraham knows is the healthiest way any business could grow in the 21st century. His clients fit a certain profile.
They are affluent, avid golfers who want to improve their golf games, and his clubs seem to help them do that. My client reasoned that his customers, who loved him and his custom-made golf clubs, would know other people like themselves. Although a lot of his business came from word-of-mouth advertising, he'd never put a formal referral system in place.
93 Extraordinary Referral Systems: Jay Abraham's Money-Making Strategy Clusters
At first, he tried his referral program on a small basis, so he could test and refine his pitch. Here's what he ended up saying: "Joe, you've been coming to me to make your clubs for several years now. I know you've been getting positive results you've taken a few strokes off your game, and you like the look and feel of the clubs, right? I have to tell you that I'm getting a little frustrated in my business. I have plenty of customers, but my favorite customers are people like you who truly appreciate my work.
That's where 1 get the real satisfaction in my business. Page 8 9 Then he went on and said, "I've decided to reduce my client base to people who enjoy my work those people, like you, who appreciate my clubs. I've decided to limit my business to only a select few customers, and since you've been such a good customer, I don't want you or the people you respect and care about to miss out.
If they like them, maybe they'll download a custom-made set of their own. If they don't like them, if they don't shave a couple of strokes off their game, all they have to do is return the clubs, no questions asked. For every friend you refer to me, I'll add a new club to your set, just because you've been such a loyal customer.
There's no trick or hidden agenda, Joe. I get the satisfaction of dealing with customers who respect and enjoy my craftsmanship people just like you. And, if your friends happen to enjoy the clubs and order a set, they'll be grateful to you for sending them my way. It was a hole-in-one! My client soon had more business than he could shake a golf club at! Here are some other examples of real-life success with referral systems. See if you can't adapt one of these to your own business or practice: A client of mine is an expensive consultant in the Far East.
He goes to new clients and offers them two compensation choices: The first is a large consulting fee. The second is a respectable discount on that fee in return for two referrals. Ninety percent of his clients accept the lesser-priced referral deal.
By the way, my client expects his satisfied clients to not merely provide names, but to actually call or visit the intended referral and get them to contact my client. It works! Another client of mine holds regular customer briefings at a prestigious hotel every month and invites every one of his customers to bring along one qualified guest. Fifty percent of the customers attending do bring a guest, and half of the guests become my client's customers. Why so many? Because they wouldn't want to come to the briefing unless they had a strong interest in my client's area of business.
A photo studio I've worked with asks for referrals each time it completes a "photo shoot" for a customer.
As an incentive, the studio operator offers the customer free 8x10 glossies of the photos that have just been made. When he gets referral names, his tele-marketers call those prospects and offer them an introductory photo session at a reduced price. Since he started using this referral technique, my friend has become the largest volume photo studio in his area. Another client of mine sells training materials.
This approach has sparked many people to really work hard getting him referrals.
He supplies them with an introductory letter explaining his credentials. Over half of his new business is produced by extending his valuable service to relatives, neighbors, and friends of his present clients. Exercise Now that you've gotten into the referral mindset, use the spaces below to write down the names of your ten best customers or clients prime targets for your referral efforts.
Then work through the five-step plan at the bottom of the page. And don't forget to drop me a note once you've begun to reap the rewards of your new referral system! Five Step Plan for Getting Referrals 1. Contact your best customer or clients and ask them to recommend you to their friends. Have you done this? Yes No 2. Offer incentives, such as product discounts to those customers who send you referral business.
Yes No 3. Ask other business owners or professionals to recommend you to their customers or clients. Yes No 4. Offer special price breaks or share-profit deals to businesses that send you referral business.
Yes No 5. Use the holidays as a time to offer your customers special incentives for giving you referrals. I stated that if you spend money to get a prospect who's interested in your product but your product doesn't quite fill the bill, the dumbest thing in the world to do is say, "OK, sorry we couldn't help you" and forget about that prospect.
The smartest thing you could do is say, "Look, Mr. Prospect, I understand you're a sincere downloader and I understand that I just don't have the right product for you. But I've made arrangements with a company that has what you're looking for.
Normally it comes with a day warranty, but I can get them to give it to you with a six-month warranty. Everyone has to pay for it in three installments, but I've worked it out so you can pay for it in six installments. A guy called in to the show who sold for one of the major photocopier companies. He had never heard of selling your competition's products.
I did an illustration for him. How many will you close? That's probably more than YOU made on the three sales of your product. They all say, "Well, that's ridiculous. I don't want to sell my competitors' products! But I'm suggesting that you make a deal with your competitors so you can share in the business that they would get anyway. What's so bad about that? Naturally, a referral is not worth as much as a sale, but it is worth something. You could make a deal with your competitors whereby they give you so much money per lead against so much per sale.
What if you're the beneficiary company? Well, let's say you sell a very inexpensive photocopier and you know that many people can't afford the expensive copier like Xerox. Yet Xerox brings in 1, prospects for every 10 they sell and they just basically abandon the other You're just wasting your money.
I'll make you a deal that's irresistible. But if they won't do that you want them to give you the leads they're finished with. In return, you give them a share of the profit from every sale you make.
It's so logical, but no one does it. The same thing applies in spades to car dealers. I think you're foolish, but if you're going to download a Toyota anyhow, I can get you a good deal on a Toyota because I have very good relations with the Toyota dealer.
I can make a deal with you right now and you won't even have to go anywhere else. Just tell me what you want and I'll give you the best price.
Quite a few, right? So why not make them? Conversely, you could also go to other dealerships and try to get them to sell your cars. You can actually reclaim your lost marketing expense! All you have to do is sell my car as a backup when you can't sell yours.
I do it and it works great! Most people do it wrong.
93 Referral Systems. By: Jay Abraham
They beg for customers. One of the great ways of getting referral business that I've developed is to write a letter to your current customers, explaining that it's a privilege for someone to be your customer. Here is a sample letter that should help get you started on referral business: Dear Mr. Business Owner I'm writing as a service to alert you to the fact that my consulting practice is getting extremely full, and I'll only be able to accept maybe a dozen or so more businesses.
But before I accept new people from the outside, I want to alert you, because if you would like to refer any of your associates or friends to me, I'll give you first priority.
I ask only that you don't dally. Give me a call and register their names so I'll know how many spaces I should reserve for you. I appreciate your business. Page 12 13 Sincerely, Jason W. Leonard Or, go to companies and offer them a service where you will send a letter to all their employees saying: As a service, we've bought every one of you an hour and a half with John Schmidlapper.
It's paid for; he's not going to charge you. He's going to overview your taxes and financial situation, etc. If, after he's done, you'd like to avail yourself of him, we've arranged a preferential rate with him. There's no obligation. It's just a service we thought you could benefit from.
Here's an excellent example that could work for you: It's rare for me to ever write to you in the first place, much less write to you about someone in another business. But I'm writing to tell you about my attorney, John Schmidlapper, and tell you about all the things he's done for me. Then give a litany of all the ways he's saved or made you money. Because I appreciate the patronage you've given our firm for so many years, I was thinking about sending you a letter or a gift box, but I decided the most noble thing I could do for you is download you an hour of my attorney's time.
So I've arranged to do that, and there's no charge or obligation to ever use him again. It's not going to cost you anything, but you've got an hour with him to talk about any subject you want, whether it's over viewing your business, financial planning, contract negotiation, or whatever. I can't recommend him enough. Here's his number. Just tell him that you're the person I've bought the hour of time for. You want referrals because this is the least expensive, has the least risk, and has the highest leverage and highest potential payoff of any of the different ways to acquire new customers.
It's simply human nature. People are usually attracted to like-minded people. Therefore, if one person downloads a product or service, the chances are they know someone who also would enjoy the same.
In most cases, the person giving you the referral will even call the prospect and introduce you and your product or service and let that person know you will be calling. The referred prospect then becomes warmer and more open to hearing about your offer because he or she has already heard how good your product or service is! You'll never have to worry about coming off as an intrusive salesperson to new prospects. Now you'll be viewed as a friend, a consultant, or an expert. Think of the advantage you'd have over the competition who are spending countless dollars trying to sell their products and services to unwilling, skeptical prospects.They may say yes, they may say no.
What are the demographics of your ideal prospects? If they like them, maybe they'll download a custom-made set of their own. This approach has sparked many people to really work hard getting him referrals. And don't forget: A referred customer or client will download a higher quality and quantity of product or service on average than customers acquired through general advertising or marketing. If not, improve it. Cause if they're your clients, then you have a moral obligation to be an expert, and to bring them as much information as you can.
See a Problem?
It's just a service we thought you could benefit from. Abetter than risk freeis even better, where if you terminate the process, you still end up with more than you had going in information, grounding material, whatever , just to sign up for something generates leads. Employees and former.
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