A simple script to endorse a center of influence

There are 3 parts to this article:

1.    The GOOD referral: 277 words (1-2 minutes)
2.    The GREAT referral: 503 words (2 more minutes)
3.    10 Real Life examples. 1013 words (3 more minutes)

The GOOD Referral:

Many of the business professionals I meet do know other people who have the potential to be a COI (center of influence/referral partner) for them.

What’s missing for referrals (or other revenue-enhancing value) to be exchanged is:

1.    There is seldom enough contact between the two
2.    There’s little or no water in the well of the relationship. What do I mean? The prospective COI needs his or her back scratched a few times first where you demonstrate your sincere desire to be a referral partner
3.    Your referral partner does not know what to say to recommend you.

This week I’d like to focus on point 3.

In any referral situation, the basic job is to open the door. That’s it. When you’re coaching others what to say, always start by keeping it SIMPLE. The referral has 3 basic parts:

a)    I know someone who’s great.
b)    Her name’s Michelle. I really recommend you talk to her.
c)    Would you like me to have her call you?

This is a GOOD referral.  It’s all you need to know.

Want more?

Two other great suggestions:

1.    My favorite wording:
“You should talk to a friend of mine.
She specializes in (ex.) health insurance, green construction, reverse mortgages, college education planning etc.
Shall I put her in touch with you?”

2.    Terrific  wording I learned from an attorney who brought in over $1 million of business for his firm in 2006 because he made so many referrals to others:
“I know someone who would be a great resource for you. His name’s Ryan Davidson. Do you want me to have him give you a call?"

The GREAT referral:

The difference between the good and the great is primarily:
a)    The level of enthusiasm. This can be expressed non-verbally through gestures, eye contact and tone of voice
b)     From giving more detail that will appeal to the person hearing the recommendation.
c)    From reducing the other person’s resistance (see example below)
d)    Using the word ‘because’

Awesome wording I heard from a client in Texas about how he recommended his property and casualty insurance agent to clients:

“He’s a great guy. I’ve recommended him many times. I’ve had the best experience with ABC’s customer service. He’s increased my insurance coverages, and decreased my deductibles and premiums. Now it may not work for you, but I would suggest you talk to him because I’ve been extremely pleased.”

I have to explain the power of this endorsement because you will get more referrals if you use this kind of language. I must emphasize that this is not the way to start out coaching others if you’ve never done it before. It’s more complex and they are unlikely to follow through – too confusing. Get them started with the good referral, then transition to this.

a)    Remember 92% of your communication is non-verbal

b)    Specific examples clearly can only help turn a referral from good to great. So you are starting with a very strong endorsement. I was talking to an employee benefits specialist from Wyoming recently. She explained that several clients had been referred to them because their previous benefits provider had a customer service call center that was frustrating to deal with and in some distant location while with her company each client was assigned a specific person who was easy to reach in person.

c)    Reduce the other person’s resistance

The final sentence is powerful and highly effective.

“It may not work for you” helps to reduce the other person’s resistance. You can’t be sure of the other person’s needs and feelings and saying this increases your credibility. People respond very favorably to having this acknowledged.

d)    Use the word ‘because’

You end with another endorsement; “But I would suggest you talk to him because I’ve been extremely pleased.” But that’s not the powerful part. The key word in the sentence is the word ‘because’. Robert Cialdini’s research has found that as humans we are triggered to comply with people far more after hearing this word even when the reason is totally feeble!

One hilarious example is given in his book, Influence. People waiting in line to make copies were asked by the experimenter (who only needed to copy 5 pages) for permission to jump to the front of the line but given no reason. 60% agreed. However, when he asked people waiting and added the words “because I have to make some copies” 93% agreed! Even though everyone was in line already because they wanted to make copies.

That’s it! The rest of this article consists of real examples of things others have said that have generated referrals. Sift through these, pick the wording you like, customize them for your industry and make them your own. Have fun!

Real Life Examples That Work:

Example 1: Property & casualty insurance agent recommending a financial advisor:

Over the years clients have asked me about life insurance. That’s not something I do. So I suggest that they talk to this friend of mine. His name’s Scott. I’ve known him for years. He goes to the same church as me. He’s very knowledgeable and all he does is life insurance and financial planning. Would you like me to have him give you a call?

Example 2: Realtor recommending an insurance agent

“I know a really good guy you should sit down with. He does a great job of explaining everything. And he’ll put together the best options possible to maybe save you some money. Would it be okay if I had him give you a call?”

Life Insurance: “I’ve got a friend who’d be more than happy to sit down with you to see if you’re underinsured or over-insured.”

Example 3: Mortgage professional recommending an insurance agent

“Are you working with an insurance agent on your homeowners? I have a great agent. His name is Tim Evans and I do business with him. He was able to save me $500 on my homeowners. Would it be okay if I passed on your information to him?” (Often opens a dialogue of frustration with current agent.)

Example 4: Mortgage professional recommending an insurance agent:

“Now that you’re investing in this asset you need to protect it.
When was the last time you met with your insurance agent? (Most haven’t heard anything lately)
What kind of coverages and replacement costs do you have? (Most don’t know)
I know someone who would be an outstanding resource that I use and recommend to others. Her name’s Stacy Perez. Do you want me to have her give you a call?”

Example 5: Financial Advisor recommending an insurance agent:

“It’s not all about making money. It’s also about protecting everything. One piece to that is your home and auto. You want to build a moat around your castle. I recommend Jeff Robinson. He’s done a great job for me and he helps many of my clients. If it’s okay with you, I’ll give him your phone number and have him give you a call.”

Example 6: Mortgage professional recommending a financial advisor:

“Now that you’re taking on this large debt, you’ll want to make sure you have enough life insurance to cover this. I know a really good guy you should sit down with. He does a great job of explaining everything. And he’ll put together the best options possible based on what matters most to you. Would it be okay if I had him give you a call?”

Example 7: as #6.

Asks what kind of assets they have. Asks how their planning for retirement is going. If she hears anything other than great enthusiasm: “I have a great advisor. Her name is Kim Richards.” She then explains how she’s helped her. “Would it be okay if I passed on your information to her?”

Example 8: as #6:

1.    “When are you looking to retire?
2.    Are you planning on carrying a mortgage during retirement?
3.    Are you on pace to accomplish your goal?”

If there’s any doubt:

“I recommend Monica Hughes. She’s a done a great job for me and she’s helped many of my clients. If it’s okay with you, I’ll have her give you a call.”

Example 9: Realtor recommending a financial advisor:

“Now that you’re investing in this asset you need to protect it and not just with homeowners insurance. When was the last time you sat down with a life insurance specialist?"

"I know someone who would be an outstanding resource that I use and recommend to others. His name’s Steve Olson. Do you want me to have him give you a call?"

Example 10: Any professional that discusses Big Picture topics with a client:

“What are you doing for financial planning? How is your retirement planning going? If you want to accomplish your goals faster, it’s wise to look at the Big Picture and build bridges between what we do and what others do. Here’s someone who can help you. He’ll ask you the broader questions and present you with the best options possible. Would you like me to have him give you a call?”