Referrals | Eric Lofholm Training For Sales Mastery

How to Find New Prospects for your Business by Leveraging your Network

As a sales professional or business owner, you need to find prospects you can deliver your sales presentation to. My sales mentor, Eric Lofholm, calls this process lead generation.

One of the keys to lead generation is systems. You want to develop multiple lead generation systems.

Lead generation begins with a database. Do you have a database where you are entering leads? If not, then you might be leaving money on the table.

Lead generation begins with identifying your target market. Who is your ideal client? You need to find ways to connect with new prospects, whether through networking, phone calls, or email.

A POI is a Person of Influence!

Eric's number 1 lead generation idea is POI. A POI is a person of influence. Everyone has a network. A POI is a person who has a large network where a % of that network is your target market.

Another great strategy to prospect for new leads is through Top Down Selling. This is another way of describing a POI relationship. You influence the POI to refer you, recommend you, or endorse you to their network.

So, what can you do if you want to reach a POI in an organization? You can use an approach called Climb the Ladder Selling. This is where you know someone who knows the POI. You get the person you know to refer you to the POI.

Another strategy that many people know about, but that few do well is the Reciprocal Referral Relationship. This is where you find someone that you can refer business to and then can refer business back to you. An example would be a real estate agent and an insurance agent.

What are you doing to find new prospects? Select one new strategy to implement and you will be well on your way to finding new prospects.

Sell with Confidence,

Kevin Perkins
Sales Trainer, Eric Lofholm International

Kevin delivers training through conference calls and live training sessions.

Benefit Sales Scripts Part 5: the Benefit-of-the-Benefit

sales_scripts You can use sales scripts to increase your sales results. Develop benefit sales scripts to share the value of what you offer with your prospective client.

What is the benefit-of-the-benefit?
The Benefit-of-the-Benefit is the real reason why prospects buy products or services, so the most powerful way to sell them is to find out what is needed or wanted and then provide it. Your probing questions will help discover what is most important to your prospect.

A Strong Motivator for Prospects
The Benefit-of-the-Benefit is a very strong motivator for prospects. When you connect your product or service to the prospect's most important need, you will rarely have Buyers' Remorse. Customers who have purchased a product or service that helps solve their Benefit-of-the-Benefit needs are those who will willingly give you referrals; in addition, these happy customers will often give you testimonials, as well.

The Benefit-of-the-Benefit in Action
Imagine this situation: A financial services sales professional is talking to a young couple with a newborn daughter and shows how this family could save $200 a month, or $2,400 a year. The sales presentation, demonstrating the Benefit-of-the-Benefit for the couple, would sound like this:

Sales Professional: "Mr. and Mrs. Prospect, I can save you $200 dollars a month or $2,400 year! How would you invest the money?"

Prospects: "We would invest the money, so we could send our daughter to college." [This is the Benefit-of-the-Benefit.]

Sales Professional: "Imagine having enough money to send your daughter to the college of her choice. How would that feel?"

Prospects: "That would feel wonderful!"

In this example, the financial services professional found the family's most important reason for buying; furthermore, he connected his product or service to fulfilling that need and has helped to satisfy the Benefit-of-the-Benefit for the family.

Discover and Link the Benefit-of-the-Benefit
Discovering the Benefit-of-the-Benefit should be a key outcome from your probing questions. Linking the Benefit-of-the-Benefit to your product or service in your sales script will help you make more sales, since these customers will be a rich source of referrals and testimonials.

Be sure to read my next Blog Post
"Sales Scripts: Seven Secrets of Persuasion and Influence”

Sell with Confidence,

John Kurth
Sales Script Writing Expert

How to Find New Prospects for your Business by Leveraging your Network

Benefit Sales Scripts Part 5: the Benefit-of-the-Benefit

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