Our SmartPhones give us instant access to information. With search engines and apps literally at our fingertips, we can quickly pull up virtually anything we need, from directions to store hours, stock prices to airline ticket fares.

But for business owners and entrepreneurs, the true power of the SmartPhone lies in your contact list.

Make no mistake about it, that sprawling contact list is business gold. There is real VALUE in each and every contact you have.

Each contact is a possible gateway to new business and sales.

Of course, the first step is making new connections.

Expanding Your Contact List

As a business owner and entrepreneur, relationship building is integral to the success and growth of your business. Despite recent phone and email marketing trends, the best way to build new relationships is in person, not behind a telephone or computer screen.

That doesn’t mean that phone calls and emails aren’t effective business development tools. But nothing is more effective than a smile, handshake, and face-to-face conversation to make an impression and spark a connection.

I regularly attend networking events and advise my Celeste Giordano Coaching clients to do the same. Every event is an opportunity to expand our contact lists and make meaningful, potentially lucrative connections.

Tapping the True Potential of Your Contact List

Your contact list is a great starting place to connect with contacts you already know, share the value of your products or services, and learn more about their needs in order to gauge their interest.

If you have been in business for a while, you’ve likely made your way through that list already, and are working to expand it. Some of your contacts may now be clients or customers, and that’s great.

But don’t forget to regularly review your contact list.

Is there anyone you’ve reached out to previously who showed some interest, but “it wasn’t the right time”? Maybe it’s time to reach out again. Use an Excel spreadsheet to track your progress, and make notes of those individuals with whom you should follow up.

Is there anyone you haven’t yet called to remind about your products or services, or to share a new program or promotion with? If you attend networking events, your contact list will continue to grow. Make sure to schedule time to follow up with new additions to your contact list. Reaching out to these contacts must be part of your ongoing marketing and sales strategy.

The Power of Referrals

Each and every one of your contacts has their own circle of contacts. Tapping into that circle via referrals presents a golden opportunity. This is one of the most key understandings that can broaden your reach – and sales – exponentially.

Customers buy your products or services either because they like or trust you personally, or because someone they like and trust referred you. If you have ever sold to someone you’ve reached via a referral, then you know it’s often a more enjoyable, comfortable and effective sales experience with a higher success rate. When a prospect knows you have a relationship with (or better yet, the recommendation of) someone they trust, they in turn are more likely to give you their time and the opportunity to earn their trust.

Asking for Referrals from Customers

Of course, satisfied customers make the best referral partners. They already trust you and love what you do, so they can speak first-hand to the quality and benefits of the product or services you offer. Often, customers will be happy to refer you to friends, family and colleagues whom they feel would also benefit from your services. If a customer is satisfied you should remind them to – and even offer them an incentive to – share your program with others.

Asking for Referrals from Other Contacts

Don’t disregard the value of a contact if they don’t personally need the products or services you are offering. Just because they aren’t a customer doesn’t mean they aren’t a gateway to your next best customer. If you build strong personal connections with people and demonstrate the value you offer, they are often happy to connect you with those they feel would benefit from your product or service.

This is certainly true of friends and family, but it’s also true of new connections. When attending a networking event, don’t be too quick to cut a conversation short with someone who isn’t a potential customer. Learn what they do, and see if you can be helpful to them in some way. For example, let’s say you’ve just met a personal trainer. If your nephew has been looking for a personal trainer, get the trainer’s information, and make the introduction. When you have a “how-can-I-serve-others” attitude, you will always win in the long term.

People appreciate those who demonstrate real interest in them. If you have a pleasant conversation with a new contact who isn’t a prospective client, don’t be afraid to ask if they have anyone in mind whom they think might benefit from the services you offer.

Create an Incentive Program

As you build good relationships with your clients or customers, ask them to share your products or services with friends, family or colleagues whom they feel would benefit. Create an incentive for them for providing you with some strong leads. For instance, if you offer personal training services, you could encourage existing clients to provide you with the contact information of friends and family who may be interested in improving their physical fitness by giving them something of value in return. You might offer clients a nutritional shake package for every referral they make who turns into a new customer. Select an incentive that fits your business model, be it a special promotion, discounted rate or gift.

How to Communicate with Leads Provided By Referrals

When you pick up the phone to call these referrals, you may start off by saying:

“Hi Adam, I’ve been working with your friend Steve for several months now, and he mentioned that you might be interested in some personal fitness coaching. I offer a complimentary group training session, and I wanted to extend the invitation for you to join us this month. Is that something you’d be interested in?”

As soon as you mention “Steve”, Adam’s interest is likely to increase while his defense mechanism relaxes. Likely, Adam knows that Steve has indeed enjoyed your coaching, creating the perfect testimonial from a trusted friend. If Adam is interested in improving his fitness regimen, then you’re no longer a risky gamble. Rather, you’re a safe investment.

Referrals Help Establish Credibility

Referral selling is a strategy that allows you to more easily establish your credibility and therefore sell faster and more effectively. Referrals are an effective way to get your foot in the door.

At Celeste Giordano Coaching, we teach business owners and entrepreneurs both how to increase the number of referrals they receive and how to sell effectively once they’ve connected with new referrals.

Our clients learn a proven step-by-step referral system that generates results. In fact, they begin their day by calling referrals! This is one of the many tools that will help you “Double Plus” your income this year.

To be amongst the successful entrepreneurs at Celeste Giordano Coaching who are learning to master the art of referral selling, contact us today.