Difference between a Lead, Tip & Referral

WHAT’S THE DIFFERENCE BETWEEN A LEAD, TIP AND A REFERRAL?

      

THE DEFINITION OF A REFERRAL

      I once heard Joe Stumpf, the founder of the real estate coaching program, “By Referral Only,” put it this way:

“A referral is when you give someone that you know, like and trust to someone you care about.”

I agree with him. Although, I think a good referral is when you pave the way with a connection to someone who has a need.

           

WHAT IS A GOOD REFERRAL?

     

My definition:

A good referral is when you connect someone you know, like and trust to someone who has a need.

      Statistics soundly prove that the more you know, like and trust a business person, the more you will refer them to your friends, associates and family.

      A good referral opens the door so that you can walk right in and easily get past the gatekeeper to talk to the person making the decisions.

     A good referral is when you are asked to contact a person who has a current need for your product or service and they are waiting for your contact with positive expectations.

      A lead or tip is nothing but a fancy-wrapped cold-call. That’s when you hear, “Hey Bob, here’s a good lead for you. My neighbor’s house lost some shingles last night in the storm. You should give them a call.”

      If it was a referral, it would sound something like this. “Hey Bob, I spoke to my neighbor last night after the storm and gave them your card. I told them how much I trusted you and they’re hoping that you can help them too. They would like you to call them right away.”

      That’s a pre-qualified quality referral that will probably land a sale. There is a good chance that those neighbors won’t even entertain any other bids. They will go with the person referred to them. That’s the beauty of referrals.

Dress to Impress

Looks matter! Even when business networking with friends. In fact, I've never heard any Gold Star Referral Club member complain about another member over dressing. However, we have heard comments about members that dress inappropriately.

Although business networking events are becoming more and more informal. Please remember that the next all-important referral may depend on how clean and/or professional you look.

Good or bad, you are ALWAYS making an impression.

Here are a few attire do's and don'ts:

DO:

• Make sure that your clothes fit you and are well pressed.
• Keep your your accessories, cologne and perfume subtle.
• Have clean and nicely groomed hair and nails.
• Consider wearing your "best client" clothes.
• Wear appropriate daytime make-up and jewelry.

DON'T:

• Wear see-through clothes, mini-skirts, low-cut blouses or anything too sexy.
• Wear anything smelly, wrinkled, torn or mis-matched.
• Display tattoos and body piercings.
• Skip the shower or forget to wash your dirty hands.

When you're business networking, you are on the frontline of your business. It's like you're interviewing for referrals. Ask yourself, "Would I send business to me?"

The right clothing will instill confidence and will empower you to be your best.