Tip 8 out of 12: What do you do when a new account opens in your territory?
Have you ever driven past a referral source and think that you need to do business with them?
I know I have. As business owners, we are constantly striving to better not only ourselves but our company as well. Time and energy is constantly being spent in order to get into these new accounts all focused on growth. However, once we have accomplished this and received some referrals, why do we feel the need to immediately move on to the next account?
You need to fight the urge of abandoning your current account to go after a new one. This is common, so know that you’re not alone… knock it off!
Here’s an abbreviation I want you to remember M.R.P., which stands for MAXIMUM REFERRAL POTENTIAL.
To get the most out of a referral source, remember it takes time and energy. It is crucial to understand that it takes a marketing rep on average 8-12 visits to get a referral. That means you must be PERSISTENT AND CONSISTENT. You should have multiple accounts that you visit every week to make sure you are getting the most out of your marketing efforts.
For example, I have a client who spends 80% of her time developing relationships with her current accounts. Because of her determination and persistence to visit these accounts every week and communicate her company’s needs, she is now getting 8-15 referrals a week. That’s right, 8-15 referrals from just one account!
Imagine what can happen if you take the time to develop your current accounts. The number of potential referrals that can come your way is limitless!
However, you have to remember that not every account will be ready to jump and refer both you and your business. This concept is extremely important to understand. Dropping by an account every week helps you form a relationship with them. In other words, getting the account to know, like, and trust you.
Think of the referral source as a rusty water pump. When you first start working with the pump, you need to take the time to clean it and oil it. Eventually, with time and maintenance, the water pump begins to trickle some water. Like this water pump, developing relationships with an account takes time. By “teaching” the account the right type of referrals your company needs you are training the account to eventually give you these referrals to grow your own business further.
We hope you enjoyed today’s tip! If you are ready to take your business to the next level, consider some of our holiday deals going on now until Dec 14th. Give yourself the gift of Home Care Marketing Training and SAVE with the following products:
- The Ultimate Referral Package
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President and Owner of Hurricane Marketing Enterprises
Steve Weiss has been in Marketing and Sales his entire life. At age 14, he owned “Neighborhood Kids Landscaping Services” where he cared for lawns around his school schedule. While in College, he sold Cutco Knives, and his honors received then were “Top Sales Rep” in 2000, he helped the Middlesex office have its first Million Dollar year in 2001, and ran the number 1 branch in productivity in the company (out of 400 locations) in 2002.
In 2005 Steve joined Care Choice (A Private Pay Home Care Company) and grew it from 16 active clients to maintaining a census of over 100, growing annual revenues from $750,000 to nearly $5 Million in just 4 short years. Eventually, he became Vice President and partner before selling the company to Senior Bridge. During his time there, Steve was recognized 14 for 14 months straight as a Top Sales Person in Inquiries, Starts, and New Revenue.
In June of 2012, Steve founded and became the President of Hurricane Marketing Enterprises where he currently is a Motivational Speaker, Business Seminar Leader, and Consultant/Coach to clients across the country.
Steve is happily married to his beloved wife Susan, and is the proud father of Steven, Sydney and Sienna who are the light of his life. Lastly, Steve went to school to be a Minister and aspires to accomplish that mission as a second career by age 45.