IF YOU NEED MORE CUSTOMERS, YOU NEED THIS BOOK!
Serial entrepreneur, business expert, and best-selling author Mike Koenigs shows you the only marketing system you need to fill your pipeline with qualified leads. Generate six- and even seven-figures in revenue, fast — without a complicated funnel, a large team, or tons of moving parts.
This "secret" system is the Referral Party process, and it has generated literally millions of dollars for Mike and his clients.
If you're looking for a simple way to generate more leads and book more sales, jump into this step-by-step guide and learn:
WHY marketing has gotten way too complicated and costly (and how Referral Parties provide an optimal alternative)
WHO to partner with to ensure you both end up with valuable (and qualified), "right-fit" referrals
WHAT to say to your referrals to get them to book immediately
HOW to brief your referral partner so they intuitively know who in their network is the perfect lead for you
MUST-HAVE TECHNOLOGY to keep the process (and dollars) flowing
You'll get word-for-word scripts, swipe-and-change templates, and tons of case studies and examples to get you started.
Use this guide to shortcut the steps most businesses are going through to find their perfect clients with Referral Parties.
Chapter 11. Troubleshooting and FAQ.
The referral party process is fairly simple and elegant, and I'm sure you could jump right in and make a go of it by this point. All the same, you've probably got some questions about how things work. Plus, there's always the potential of things going awry. I've seen the wheels come off plenty of times, so I'm going to start with some tips and then go into FAQs and answers.
Here's my biggest suggestion. When you're first starting out, stick to the plan as laid out in the instructions in chapter eight. You can change things up in the future, but by following these steps, you can minimize the variables as I've already done the hard work and testing for you. Next, you really need a tight offer that's been road tested before trying a referral party. I jumped this step with Justin Donald as we developed his one-on-one offer that morning, but I don't recommend this path when you're just starting out. The more comfortable you are with your model, the more able you'll be to concentrate on your new connections.
Additionally, while referral parties remove the need for complicated sales follow-up by removing a multi-part funnel, you will still need to be comfortable and effective in a sales conversation. If this is a weakness of yours, address that before having five or ten hot leads waiting to speak with you. Those referrals are worth big money and you want to be ready for them.
Do not do a referral party unless you are going to book calls and follow-up. If you don't have a scheduling system in place and are horrible at follow-up or don't have a sales team in place, your referral partner will never trust you and you'll both harm your reputations. If you don't have a quality sales script or feel comfortable with sales conversations, go to www.referralparty.com slash sales to get a copy of my sales process. I regularly create sales systems and train founders and their teams on how to convert more prospects into high-ticket sales.
As you can probably tell from the detail I've gone into in this book, I'm big on optimization and iterative improvement. This requires role-playing and testing your message. I like to look at marketing as an experiment, always searching for ways to make things even more effective and streamlined. You can do the same. Keeping track of your outcomes can help a lot. If you don't have a great memory, make notes in a CRM or a Google Doc or your favorite platform in the cloud so it's never lost. Who did you meet with? How many people did you refer to your partner? Who did they end up working with your partner? If not, why not? How many referrals did you receive? When you add someone to your leads database, write down who referred them and how your follow-up conversations went. Over time, you'll be able to see patterns in your own network, your referral party partners, and your leads.
Okay, on to the questions or objections I commonly get about referral parties. Q. I love this idea, but I don't know anyone I can partner with. Help! This is probably the biggest question I get because people are so bad at making authentic win-win relationships with others. We either stay in our little silos or we see others at our level as competition. I believe in abundance and seek out relationships with others who do too. Your first stop should be to look through your customer database and find people you feel you can give quality referrals to.
Start by giving first. Get into that habit before you worry about getting. Once this process starts and you share offers, it's amazing how creative and abundant people get. If you can't think of a single person to get started with a referral party, you've got some work to do. Join a high-level coaching group, networking organization, or other professional group. I've included a list of some of my favorites in the resources section. Yes, you will likely have to pay to play, but I've found that when there's a cost to entry, you get better quality people because they are willing to invest in themselves and others. I belong to and invest in Strategic Coach, Genius Network, Abundance 360, Mastermind Talks, and three other peer-based mastermind groups. Some of my best relationships belong to EO, YPO, Vistage, Singularity University, XPRIZE, Tiger 21, and Tony Robbins Platinum Partners. They can walk me into those groups or secure a speaking engagement, book giveaway, or whatever. I can't stress how powerful platform affiliations are as a marketing channel. One referral to one platform could feed a business for years.
You can also ask your favorite clients what groups they're in. And don't overlook clients as referral partners. They fit a lot of the criteria I laid out in Chapter 10.
Q. I had a great time with my first referral party, but at the end of the hour, I had referred seven people to my partner and had only one in return. What happened? Sometimes things just don't work out for no good reason. If this happens just once, chalk it up to bad luck and do another referral party immediately with a different partner. If this happens more than once or twice, a few things are probably going on. Keep listening.
Q. This is a brilliant idea, but I hate video. Can I just do an email or text intro instead? You could, but you could also swim to Maui instead of taking a plane. Use the templates and scripts in the resources chapter and get over yourself. While text or email can work, video is better. I decided long ago to quit trying to convince anyone of the power of video and why it's effective. If you're not willing to get over whatever story, trauma, or judgment someone else inflicted on you, this isn't a right fit. If you absolutely cannot record a video, you just had a facelift, you have a bad case of oozing poison ivy, whatever, a voice text or audio memo would be the next best way to do an introduction. Don't believe me? Test it for yourself. I don't have anything invested in being right. just being effective. The only measuring stick that matters is your reputation and what's in your bank account.
Q. I had what I thought was a successful referral party with my partner, but none of the people I referred went on to set up a call become clients. I felt like a jerk. Watch the videos. Practice. Get better. Some of these won't work out, and that's okay. Like I said above, sometimes things just don't work out. Look over the list of people you referred, and maybe even reach out to them to see what the disconnect was. You may find out that you thought your partner did XYZ and they actually do ABC. Or you may hear that they just hired someone to do something similar. Or they may have no good reason, which may point to a trust issue. They didn't think your referral was a good one. The only way you'll know is to ask. That one didn't work.
Next, watch the examples and model what I do.