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 4. The $250,000 Formula.
Obviously, both Justin and I were pretty stoked about the results of our initial exploration into referral marketing. To the outward observer, it appeared that a quarter-of-an-hour conversation led to a quarter-of-a-million-dollar payday. Not bad. In terms of that math we talked about earlier, the formula was simple. One referral text, one sales conversation, $250,000 sale.
Basically, an infinite return on investment, ROI. But before I got too excited and started trying this strategy with my other clients, I wanted to make sure this would work with other businesses and other offers. How could I systematize and templatize this to make it as foolproof and efficient as possible? How could I ensure I fully understood what made for a successful referral? Like a baker perfecting her sourdough recipe, or a brewer going after that perfect IPA, I wanted to make sure every ingredient was accounted for, quality checked, and optimized.
So I started by figuring out why it had worked so well with Justin Donald. My logic was that by deconstructing what happened with the lifestyle investor, I could determine what elements were critical to the success of that particular referral. What was it about Justin's business, his offer, and his messaging that made it so attractive? What about my friend? What was going on in his life and what was on his mind that made him the perfect fit? What made it so he recognized the opportunity and bought in? And me. What part did I play in this? Would my friend have been equally excited if he'd heard about Justin on a podcast or through a colleague he knew well, but had never done business with? There was a lot to unpack.
Here's what I determined made Justin's situation such a success. Mindset. Though he was hesitant, Justin was in a position to transform his business and his own persona. He'd never asked for such a large dollar figure, particularly for a single transaction. Because we'd already spent a full day together, though, he was in a mental and emotional space to try something completely outside his comfort zone. If he'd had the same conversation a week earlier, I believe Justin would not have had the energy or presence necessary to ask for and receive $250,000 for personal coaching. Thankfully, we'd already talked through the value of his offerings and created a new brand, the Lifestyle Investor. He just had to step into it, try it on, and own it. Most importantly, Justin became clear about what his core non-negotiable values were and what he was looking for in a right fit client. Market.
Together, Justin and I had carefully described the type of person he'd love to work with, as well as who he could best serve. We'd mapped it out in such detail that when my friend texted me, I immediately knew they were a match. In fact, it was almost like the forces of the universe delivered exactly who Justin had ordered right to our door. but even quicker than Amazon Prime model. We had created Justin's business model for a mastermind the day before and I knew a certain person in his market would also love the idea of being mentored personally by the lifestyle investor himself. That's why I was pushing him so hard to develop a one-year one-on-one coaching option. We mapped out in detail everything you'd get with a direct relationship that wouldn't overly tax Justin or overwhelm the client. The conversation with my friend was proof of concept that my hunch was right. He matched the right offer to the right person at the right time.
Message. Knowing the right things to say to create confidence and desire in the prospect was absolutely key for Justin. This was a challenge because we just created his new business persona the day before, and he hadn't yet had the chance to practice and fine-tune his messaging. Fortunately, I was able to help him in real time, connecting his offer to the prospect's pains and needs.
Media. The final essential piece of Justin's success was what, for the sake of alliteration, I'll call it the messenger. Who connected Justin to the prospect, meaning who was the messenger, was critical, because my friend already knew, liked, and trusted me. He was able to pretty much instantly transfer those positive feelings to Justin, even though he'd never met or heard of him before. Note, in growth accelerator parlance, the messenger would correlate to the fifth of my 6Ms, media. Media refers to how you get in front of your audience and drive them to buy now. The word media doesn't quite make sense in this scenario, so I've relegated that role to the messenger.
Once I identified these key pieces, I was able to begin the process of imagining a structure that might apply to any business person, any offer, and any industry. And with what I'd already proven with my growth accelerators, I could envision a repeatable foolproof referral system that would replace the clunky, attention-hogging traditional marketing funnel with something sleek, effective, and even fun. Over time, I dialed in the process even more and the referral party was born.
While I made some tweaks, the five components above remained. They're so critical that I'm going to dive into each one in later chapters. For now, just know that while simple on its surface, a successful referral is actually quite sophisticated if you want to get it right. Don't worry, I'll show you how.