Latest / What is Business Development? / Episode 65: BD Book...How To Implement a Referral Management System with Andrew Z. Brown

Transcript

Episode 65: BD Book...How To Implement a Referral Management System with Andrew Z. Brown · What is Business Development?

• 0:03
  Speaker 1: Welcome to the Business Development podcast brought to you by
• 0:06
  Speaker 1: the Global Business Development Association, delivering the strategies and tactics
• 0:11
  Speaker 1: to boost your career and corporate growth.
• 0:22
  Speaker 2: Hello BD pros, and welcome to the Global Business Development
• 0:26
  Speaker 2: Association podcast called What is Business Development? You know, referrals
• 0:35
  Speaker 2: have the highest conversion rate out of any business development tactics,
• 0:40
  Speaker 2: and sometimes it could be higher than fifty percent conversion
• 0:45
  Speaker 2: rate on referrals, especially those high quality referrals. And when
• 0:51
  Speaker 2: you compare that to other BD tactics like cold outbound,
• 0:55
  Speaker 2: cold calls, cold email, warm email, social selling, whatever you
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  Speaker 2: want to call it, sometimes those only have less than
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  Speaker 2: ten percent and sometimes even worse conversion rates. So that's
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  Speaker 2: a real problem for some companies. But if you want
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  Speaker 2: to have higher converting BD tactic like referrals, well this
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  Speaker 2: is the episode for you. Today. We're talking with Andrew Z. Brown.
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  Speaker 2: He is the father of business to business referral programs
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  Speaker 2: and he is here to talk about the methodology that
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  Speaker 2: he has in his book for building a referral management system.
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  Speaker 2: His book is called Get Referred How to Increase Sales Velocity,
• 1:45
  Speaker 2: volume and Value. The book provides a reader friendly how
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  Speaker 2: to guide that is instantly usable by anyone on the
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  Speaker 2: hook for generating revenue. He draws on thirty years of
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  Speaker 2: helping organizations accel rate sales in fast moving technology companies,
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  Speaker 2: well established financial institutions, and conservative professional services firms across
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  Speaker 2: North America. This is unlike other books. It's designed for
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  Speaker 2: improving sales and ways that are truly meaningful to anyone
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  Speaker 2: selling products or services, whether that's B to B or
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  Speaker 2: B two GB business to government. The book is organized
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  Speaker 2: clearly so that readers can immediately find value by focusing
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  Speaker 2: on key takeaways and objectives. He gives you plenty of
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  Speaker 2: use cases, tools and frameworks, and walks you through the
• 2:37
  Speaker 2: whole process on rolling out a referral program. I've read
• 2:41
  Speaker 2: this book. I gave it five stars like a lot
• 2:43
  Speaker 2: of other people on Amazon. Looks like thirty two ratings
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  Speaker 2: to date, all five star ratings. That seems like. So
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  Speaker 2: this is a wonderful book and I'm so excited. This
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  Speaker 2: is the second time we will have Andrew Z. Brown
• 3:01
  Speaker 2: on our podcast. We'll have the previous podcast in the
• 3:05
  Speaker 2: show notes. Andrew, welcome back to the show.
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  Speaker 3: Hey Tony, thanks very much for having me. As always
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  Speaker 3: a real, real pleasure to catch up with you and
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  Speaker 3: engage with the bad community.
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  Speaker 2: Well, thank you, Andrew. And you know, tell us why
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  Speaker 2: is it so important to have a referral system, a
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  Speaker 2: referral management system like the one that you talk about
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  Speaker 2: in your book.
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  Speaker 3: Well, you've said you've talked about some of the business benefits,
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  Speaker 3: about the higher conversion rates which are extraordinarily high with
• 3:41
  Speaker 3: the right referral source. The cost of acquisition for a
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  Speaker 3: new business when there's a good referral is next to nothing.
• 3:53
  Speaker 3: And so you know those are the business benefits, and
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  Speaker 3: so it gets you to think, well, why should it
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  Speaker 3: twe actually put something into place, And it turns out
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  Speaker 3: that the ROI on managed referral programs is forty percent
• 4:08
  Speaker 3: or greater. The other reasons, I think that business development
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  Speaker 3: folks and organizations in journal we want to be able
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  Speaker 3: to understand and a process where we can measure, we
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  Speaker 3: can learn, we can adapt. Also, having a systematic process
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  Speaker 3: places someone in the role of responsibility. And we know
• 4:33
  Speaker 3: that if you put someone, if we give responsibility to someone,
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  Speaker 3: it's more likely to happen than if it's amorphous and
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  Speaker 3: no one really owns up for it. And perhaps the
• 4:44
  Speaker 3: greatest reason is you avoid the negative consequences of not
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  Speaker 3: systematically managing referrals, which includes things like loss opportunities, wasted
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  Speaker 3: resources in time, irritating clients, disrespecting prospects, all of those
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  Speaker 3: consequences of many organizations default way of managing referral programs,
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  Speaker 3: which is kind of ad hoc, nonsystematic, not measured, not thoughtful,
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  Speaker 3: not measured. So that's why you know you have the
• 5:24
  Speaker 3: positive business benefits and you want to avoid some of
• 5:29
  Speaker 3: those negative consequences. That's why it's so important to understand
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  Speaker 3: how referrals in B to B, particularly big ticket products,
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  Speaker 3: services offerings, actually happen. And that's why I having a
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  Speaker 3: process in place that's built on the realities of good
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  Speaker 3: referrals is so important.
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  Speaker 2: Yeah, and folks, you can see if you're watching the
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  Speaker 2: video a copy of Andrew's book on the screen. A
• 5:59
  Speaker 2: lot of what he just talked about is packed into
• 6:02
  Speaker 2: his book. And if you want to learn a little
• 6:05
  Speaker 2: bit more about the overview of his book in his
• 6:08
  Speaker 2: top three tactics. Again, that's in the first podcast we
• 6:12
  Speaker 2: recorded with Andrew, and again we'll have that link to
• 6:16
  Speaker 2: the podcast in the show notes, so you can go
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  Speaker 2: back and listen to that show. All right. So in
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  Speaker 2: this episode, Andrew, we plan to jump into the overall process,
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  Speaker 2: that overarching process that you talk about in your book. Sure,
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  Speaker 2: and I'm showing the process now on the screen. But
• 6:34
  Speaker 2: for those that are probably listening and not seeing a
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  Speaker 2: screen or any kind of video version of this podcast,
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  Speaker 2: can you walk people through the seventh step referral program?
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  Speaker 3: Sure, and I'll do it rather quickly because it is involved.
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  Speaker 3: We know that human behavior and organizations are messy things
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  Speaker 3: to deal with, and that's why there is a program
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  Speaker 3: to try to manage that in a systematic way. So actually,
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  Speaker 3: can I ask you to put that back up? Awesome?
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  Speaker 2: Thank you, and Andrew. If I may, just for the
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  Speaker 2: listeners today, we will go through the first couple of
• 7:16
  Speaker 2: major steps. We'll have a three part series that goes
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  Speaker 2: through the entire process. So this is a deep dive
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  Speaker 2: into the first couple of steps in the managed referral program,
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  Speaker 2: and we'll roll out podcasts in the future that do
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  Speaker 2: deep dives into the other remaining steps until we go
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  Speaker 2: all the way through the entire program. All right, So
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  Speaker 2: let's continue forward with the deep dive, Andrew.
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  Speaker 3: Okay, so a quicker review beside is there. The first
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  Speaker 3: step is to select goals. And I know that sounds silly,
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  Speaker 3: but the reality is that many organizations are very imprecise
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  Speaker 3: when it comes to the kind of goals and targets
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  Speaker 3: that they're looking for from referrals. Of you might think
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  Speaker 3: it's just we want more. Well, when we actually come
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  Speaker 3: to developing these precise actions that spark the actual generation
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  Speaker 3: of those profitable referrals, we have to measure it against
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  Speaker 3: the goals. Otherwise a program could be less successful than
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  Speaker 3: you would like. And the whole point is to introduce
• 8:35
  Speaker 3: a discipline around referrals and referral behavior. And that means
• 8:41
  Speaker 3: spending time with the sales folks perhaps or the marketing perhaps,
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  Speaker 3: with the executives, and identifying specific, specific goals. And those
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  Speaker 3: goals generally fall into sort of a handful of buckets.
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  Speaker 2: Now, let's let's jump through the other two through steps two, three, seven,
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  Speaker 2: so people can just if they haven't read the overall program,
• 9:06
  Speaker 2: real quickly how it works. So you Step one is
• 9:09
  Speaker 2: you select your initial goals. Step two is get referral ready,
• 9:14
  Speaker 2: just real quickly. What does that mean?
• 9:16
  Speaker 3: So everyone believes that their organization, their process is deserving
• 9:21
  Speaker 3: of referrals. But the truth matter is that's not the case.
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  Speaker 3: So organizations have to be able to quantify their reputation,
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  Speaker 3: address capacity, and reinforce the value of referrals within the organization.
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  Speaker 3: That's step two. That's getting referral.
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  Speaker 2: Ready, okay, and then what about step three?
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  Speaker 3: And step three is evaluating referral sources, you know, as
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  Speaker 3: business development, sales, as marketing folks, we're a customed very
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  Speaker 3: much to coming up with profiles, ideal client profiles, for example,
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  Speaker 3: but we don't apply that same methodology that discipline towards
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  Speaker 3: referral sources. And so that's the third step. Because a
• 10:09
  Speaker 3: good referral source can be awesome and can bring you
• 10:13
  Speaker 3: exactly what you want, and a bad referral source can
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  Speaker 3: do some of those other things that I mentioned earlier.
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  Speaker 3: They can misrepresent an organization, bring you crappy business, and
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  Speaker 3: we feel obligated to take it anyway. So we want
• 10:29
  Speaker 3: to be able to evaluate referral sources in the systematic
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  Speaker 3: and respectful and legitimate way so that we can have
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  Speaker 3: an army of folks who know how to engage with
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  Speaker 3: the kinds of organizations and people that we want them
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  Speaker 3: to bring.
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  Speaker 2: Us Okay, great, and then I'll just quickly go through
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  Speaker 2: the remaining steps here because we will deep dive steps
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  Speaker 2: one through three. But step four, once you have that
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  Speaker 2: army of referral sources is identified, then step four is
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  Speaker 2: you give them. You arm them with the referral sources.
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  Speaker 2: So you know, that's what you want to arm them
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  Speaker 2: with the content to so that they're well advised on
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  Speaker 2: your solution, the value you bring to the table. Step
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  Speaker 2: five is you activate the referral sources. This is where
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  Speaker 2: you engage them and they start, you know, bringing in
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  Speaker 2: referrals to you. Step six is measuring the results. And
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  Speaker 2: then finally step seven is you hone the program, you
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  Speaker 2: modify the program, you enhance the program based on the
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  Speaker 2: data that you're receiving. Okay, well that was a great overview, Andrew.
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  Speaker 2: Let's jump into these steps one through three. We can
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  Speaker 2: talk through them in sequence, or we can talk through
• 11:47
  Speaker 2: them all at once, whatever you prefer. But again let's
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  Speaker 2: talk through step one to three. And again step one
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  Speaker 2: was select your initial goals. Step two is get referral ready,
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  Speaker 2: and step three is evaluate your referral systems. So going
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  Speaker 2: to step one, when you're talking about these initial goals.
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  Speaker 2: You're essentially talking about KPIs key performance indicators for your
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  Speaker 2: referral program. Right, what specifically, what type of KPIs should
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  Speaker 2: somebody be thinking about?
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  Speaker 3: Well before getting to the KPIs, because KPI is again
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  Speaker 3: cascade down from goals.
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  Speaker 2: Okay, So.
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  Speaker 3: There are a number of different types of goals, particularly
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  Speaker 3: when an organization has said, you know what, we want
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  Speaker 3: to have this program in place, and so process goals
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  Speaker 3: for example, like we don't want to spend more than
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  Speaker 3: x amount of time engaging with referrals. Right, that would
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  Speaker 3: be a process goal, and that's very very common because
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  Speaker 3: if it's a brand new program, people are already out
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  Speaker 3: going direct and they're meeting with people and so they've
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  Speaker 3: they've got time allocated to other things, so they may
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  Speaker 3: have very specific process goals. May also be skills development goals,
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  Speaker 3: so uh and you again you can drill these down
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  Speaker 3: to KPIs, like, you know what, we want to increase
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  Speaker 3: the active listening skills of x number of our BD
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  Speaker 3: folks or increase the account management skills of uh x
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  Speaker 3: number of our b DE folks. So we get it
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  Speaker 3: could be a skill development goal, it could be a risk.
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  Speaker 2: What about just generating revenue isn't like the B goal, right,
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  Speaker 2: I mean, we want to generate leads that generate revenue, right.
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  Speaker 3: Exactly exactly, so that when when we start to unpack
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  Speaker 3: the goals that are revenue goals, and I I always
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  Speaker 3: recommend these precise as you can, you're going to go
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  Speaker 3: through an iterative process us in setting those goals, because
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  Speaker 3: after we actually finished step three, where we've evaluated and
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  Speaker 3: chosen referral sources, we're going to take a look at
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  Speaker 3: those folks and we're going to say, you know what,
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  Speaker 3: maybe our goals are too ambitious, or maybe the goals
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  Speaker 3: aren't right because of the opportunities that the referral sources
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  Speaker 3: we believe we can help them bring us.
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  Speaker 2: So should they just start with a generic goal and say, okay,
• 14:25
  Speaker 2: we want to generate revenue or should they say we
• 14:28
  Speaker 2: want to boost revenue by thirty percent?
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  Speaker 3: I would say you would choose, let's say an offering.
• 14:34
  Speaker 3: We want to boost the offering of sorry, boost the
• 14:39
  Speaker 3: sales of this offering offering a by thirty percent in
• 14:44
  Speaker 3: this quarter.
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  Speaker 2: Oh, so we're actually saying pick one specific product or
• 14:49
  Speaker 2: solution that's right, and okay, and are you keeping the
• 14:53
  Speaker 2: other products and solutions as constants, so they're not part
• 14:58
  Speaker 2: of the referral program, so that you can see what
• 15:00
  Speaker 2: the uplift and revenue is from this kind of test product,
• 15:04
  Speaker 2: this test referral program to kind of match it to
• 15:07
  Speaker 2: the growth rate of the others. Or is that why
• 15:09
  Speaker 2: you're doing it? Why why would you only pick one product?
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  Speaker 3: We pick a product that we can match our referral
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  Speaker 3: sources too, and we pick a specific offering that we
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  Speaker 3: can actually measure success, and we pick a a focus
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  Speaker 3: for our referral sources in order so that they can
• 15:38
  Speaker 3: be successful.
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  Speaker 2: Got it? Okay? I like that. I like that. So
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  Speaker 2: specificity is the key to success here.
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  Speaker 3: And Tony, as I said, we may find we might say,
• 15:47
  Speaker 3: you know what, we want to increase this software analytical tool.
• 15:51
  Speaker 3: We want to increase the revenues this tool by thirty
• 15:56
  Speaker 3: percent this quarter in this geographic region for example, and
• 16:00
  Speaker 3: then that really starts to get when it comes to
• 16:04
  Speaker 3: choosing referral sources, we say, wait, wait a sec this
• 16:07
  Speaker 3: geographic region. Well, way, that becomes in a filter for
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  Speaker 3: helping us to refine and define some of the referral
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  Speaker 3: sources that we might be choosing.
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  Speaker 2: From okay, and I like that. I like that yeah,
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  Speaker 2: and so okay, So this is kind of an evolutionary thing.
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  Speaker 2: It's good to start with some ambitious goals, right, that's fine,
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  Speaker 2: but you will refine those ambitious goals once you start
• 16:31
  Speaker 2: to dig into the details of your program, and then
• 16:33
  Speaker 2: you'll really start to determine the viability of achieving those goals.
• 16:39
  Speaker 3: So I like that, all right, I'll jump onto I
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  Speaker 3: just want to say, at the end of stage three again,
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  Speaker 3: once we've chosen our army, and usually it's just a handful,
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  Speaker 3: it's three, four or five people who we've chosen to
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  Speaker 3: be a referral sources. Once we've chosen them, we revisit
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  Speaker 3: the goals and we say, are those realistic? Because we
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  Speaker 3: don't want to set up those referral sources for failure.
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  Speaker 3: We want to set them up for success. So we
• 17:06
  Speaker 3: have to be prepared to modify those goals. And that's
• 17:11
  Speaker 3: why those other goals like risk reduction goals, organizational goals,
• 17:16
  Speaker 3: reputational goals, expense goals, how much are we going to
• 17:19
  Speaker 3: stand on a referral program? Right, those kinds of things
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  Speaker 3: come into play once you start to actually go through
• 17:26
  Speaker 3: this process and they're all legitimate. And the more people
• 17:30
  Speaker 3: you've got talking about this thing, the more likely that
• 17:35
  Speaker 3: you're going to be successful. You'll get more buy and
• 17:38
  Speaker 3: when you start acknowledging that this program can also deliver
• 17:43
  Speaker 3: on other goals. So yes, it first and foremost the
• 17:46
  Speaker 3: business development initiative. There's no doubt business development in sales,
• 17:50
  Speaker 3: but it has implications. It can stand alone, but it
• 17:55
  Speaker 3: opens up the door for other great goals to be
• 17:58
  Speaker 3: met as well.
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  Speaker 2: Okay, that sounds like a good segue into step two here,
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  Speaker 2: which is get referral ready, right, I mean this is
• 18:05
  Speaker 2: the part where the goals start meeting the actionable functions.
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  Speaker 2: So let's let's get into uh, get getting ready. How
• 18:14
  Speaker 2: do we actually do that? You've got goals, now we've
• 18:17
  Speaker 2: got these are initial goals, but what do we do?
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  Speaker 2: What do we do with those?
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  Speaker 3: So getting referral Ready is a bit of a reflective
• 18:24
  Speaker 3: process where we take a look and we ask ourselves
• 18:28
  Speaker 3: some tough, tough questions. Because when we are pulling together
• 18:32
  Speaker 3: a referral program and asking referral sources to essentially act
• 18:37
  Speaker 3: or rep for us, to recommend us to be staunch
• 18:42
  Speaker 3: advocates for people to go out and find the right
• 18:45
  Speaker 3: business and qualify for us. If we're going to do
• 18:50
  Speaker 3: that legitimately, we have to prove to them that we
• 18:54
  Speaker 3: are worthy of their time, and that is getting for already.
• 19:00
  Speaker 3: Part of that is actually summarizing, synthesizing our reputation as
• 19:08
  Speaker 3: an organization. So how are we viewed, because again, we're
• 19:13
  Speaker 3: asking people to rep for us. We could it would
• 19:15
  Speaker 3: be irresponsible if we ask people to rep for us
• 19:20
  Speaker 3: if we don't have a good reputation. And sometimes we
• 19:22
  Speaker 3: have an awesome reputation but we haven't quantified it put in.
• 19:26
  Speaker 2: But let me stop you right there, Andrew, because it
• 19:29
  Speaker 2: seems like if you ask senior leadership and companies what
• 19:32
  Speaker 2: their reputation is, they say, well, we have an awesome
• 19:34
  Speaker 2: reputation exactly, no problem here, no implement this referral program.
• 19:39
  Speaker 2: But I think what you're saying too is, yeah, that's nice.
• 19:42
  Speaker 2: That's nice, boss. But let's look at the real numbers. Here.
• 19:46
  Speaker 2: Here are the customer satisfaction scores. That's it from the
• 19:50
  Speaker 2: product we intend to launch. Here is our you know,
• 19:56
  Speaker 2: here are the other customer experience metrics.
• 20:01
  Speaker 3: Exactly.
• 20:01
  Speaker 2: Looking at that that justify our overall brand record? Probably
• 20:07
  Speaker 2: not not only brand perception in the marketplace, but brand
• 20:11
  Speaker 2: recognition probably comes into this as well, right, I mean,
• 20:14
  Speaker 2: how how recognized are we as a brand? You know,
• 20:16
  Speaker 2: if our referral partner says, oh, you should meet company
• 20:20
  Speaker 2: x y Z, who's company x y Z? I have
• 20:23
  Speaker 2: no idea who they are? You know? Is that?
• 20:25
  Speaker 3: Is that?
• 20:25
  Speaker 2: What you're talking about? These types exactly.
• 20:27
  Speaker 3: And there are a number of different different ways of
• 20:29
  Speaker 3: different sources. You've identified two very important on customer satisfaction
• 20:35
  Speaker 3: and sometimes the organizations have that, but they haven't summarized,
• 20:38
  Speaker 3: they're synthesized it in a way that's useful. So there
• 20:42
  Speaker 3: has to be some agreement within the organization. Hey, you
• 20:45
  Speaker 3: know what, we've got to capture this. We've got to
• 20:47
  Speaker 3: make it digestible. For our referrals are chosen referral sources.
• 20:51
  Speaker 3: So let's let's put it into a one patie. What's
• 20:53
  Speaker 3: our reputation like? So customer satisfaction over a period a
• 20:58
  Speaker 3: period of time? For example, how about employee satisfaction because
• 21:03
  Speaker 3: we know that when organizations have have employees who love
• 21:07
  Speaker 3: working there, there there is a strong correlation between that
• 21:11
  Speaker 3: and high performing companies. So you can quantify that maybe
• 21:15
  Speaker 3: it's a discussion with HR. Maybe this helps to kick
• 21:18
  Speaker 3: start some of those discussions internally around that. How about sales?
• 21:23
  Speaker 3: How could take a look at your the progress of
• 21:26
  Speaker 3: sales so that you say, wow, you know what, our
• 21:28
  Speaker 3: customers are eating up these products by the barrelful, right,
• 21:33
  Speaker 3: and so looking for different men and you can and
• 21:36
  Speaker 3: the simplest, the simplest one is just going online and
• 21:41
  Speaker 3: taking a look at reviews that are generated by Google
• 21:46
  Speaker 3: or by glass Store. Right, that is an indication of reputation.
• 21:50
  Speaker 3: I'm not saying it's comprehensive. I'm not saying it's it
• 21:53
  Speaker 3: is by it means the entire organization, it's it's a
• 21:58
  Speaker 3: small piece about What we're trying to do is provide
• 22:01
  Speaker 3: referral sources with additional proof points around the awesomeness. Yeah,
• 22:08
  Speaker 3: and that's quantifying the reputation and companies that go I'm
• 22:12
  Speaker 3: not sure I really want to do that. You have
• 22:16
  Speaker 3: to ask yourself, are they or for already? Are they
• 22:20
  Speaker 3: prepared should they be asking other people to rep for
• 22:24
  Speaker 3: them if they are not prepared to quantify their own reputation?
• 22:28
  Speaker 2: Yeah? Right, yeah, because you're going to be burning up trust,
• 22:31
  Speaker 2: mutual trust with your partners, your referral sources if you
• 22:35
  Speaker 2: send them down a quixotic adventure and trying to pitch
• 22:39
  Speaker 2: products that aren't high performing. So let's just peel that
• 22:43
  Speaker 2: back a little bit, because this is a fascinating discussion here.
• 22:46
  Speaker 2: First of all, folks, we have an entire chapter in
• 22:49
  Speaker 2: the Business Development Body of Knowledge dedicated to customer experience
• 22:53
  Speaker 2: and all of the metrics associated with those net promoters score,
• 22:58
  Speaker 2: customer satisfaction score. We have I think over a dozen
• 23:01
  Speaker 2: documented in there to include employee experience. So I'm glad
• 23:05
  Speaker 2: you mentioned that, Andrew, that employee experience is also something
• 23:08
  Speaker 2: that's a worthy metric to take into account when you're
• 23:11
  Speaker 2: trying to decide here in step two, are you are
• 23:16
  Speaker 2: referral ready? And you know, so let's let's kind of
• 23:20
  Speaker 2: use GBDA as an example organization here and talk through
• 23:26
  Speaker 2: where we are. I mean, we're in the process at
• 23:28
  Speaker 2: GBDA building out a referral program and you know, I
• 23:34
  Speaker 2: would say we're probably into step three here, so we're
• 23:39
  Speaker 2: not not too far down the path. And you know,
• 23:43
  Speaker 2: we've we just crossed the line where we have over
• 23:46
  Speaker 2: one hundred business developers certified as Business Development professionals analyzed
• 23:52
  Speaker 2: the data the pre exam surveys and the post exam
• 23:57
  Speaker 2: surveys from the Business Development Professional certification. We also have
• 24:02
  Speaker 2: another product called the Business Growth Practitioner Certification, which is
• 24:06
  Speaker 2: an early entry certification, and the results have been great
• 24:10
  Speaker 2: for both of those. We've had more activity in the
• 24:13
  Speaker 2: BDP certification, and you know, I'm building relationships with partner
• 24:21
  Speaker 2: organizations like other business development entities, whether those are consulting
• 24:26
  Speaker 2: firms or business development associations. We just signed an agreement
• 24:31
  Speaker 2: with BEDASA, which is the Business Development Association of South Africa,
• 24:36
  Speaker 2: for example. And we also have a built in referral
• 24:40
  Speaker 2: program with our Business Development professionals, so as soon as
• 24:44
  Speaker 2: they finish their certification as BDPS, they can become referral
• 24:49
  Speaker 2: partners for us. It's an automated system where if they
• 24:54
  Speaker 2: provide a referral to a fellow colleague, which a lot
• 24:58
  Speaker 2: of our one hundred BDP certified folks have come through
• 25:03
  Speaker 2: word of mouth, if they provide their referral code to
• 25:08
  Speaker 2: their colleague, family friend, whatever the case might be. We
• 25:13
  Speaker 2: have a revenue share agreement with our BDP certified members.
• 25:18
  Speaker 2: So okay, so we and obviously the goal for US
• 25:22
  Speaker 2: is grow the membership, grow completions of bd be certified
• 25:29
  Speaker 2: folks that are out there. So those are our goals.
• 25:32
  Speaker 2: Those are the types of you know, referral readiness things
• 25:37
  Speaker 2: we've looked at because the customer satisfaction scores are fantastic
• 25:43
  Speaker 2: and for those that have postgraduate degrees with over a
• 25:47
  Speaker 2: dozen years of experience, we're talking ten out of ten
• 25:50
  Speaker 2: customer satisfaction net promoter score, five out of five on
• 25:54
  Speaker 2: the Business Development Body of Knowledge. So we have some
• 25:56
  Speaker 2: great data. Now, So what you're saying, Andrew, is now
• 26:01
  Speaker 2: that I have that data that kind of proves that, yeah,
• 26:03
  Speaker 2: we have some solid credibility. We have some solid feedback
• 26:08
  Speaker 2: over one hundred that's a pretty solid sample size that
• 26:12
  Speaker 2: we can use that to provide the AMMO if you will,
• 26:16
  Speaker 2: the referenceable credibility to BADASA, our other partner organizations, to
• 26:24
  Speaker 2: our BDP certified members. We can now we can use
• 26:29
  Speaker 2: those as assets, referral assets, right, and so that's the assessment.
• 26:35
  Speaker 3: That's exactly I mean, that's when it comes to step forward.
• 26:39
  Speaker 3: We're talking about arming your referral sources, your chosen referral sources,
• 26:45
  Speaker 3: those that kind of proof point helps make their lives easier,
• 26:50
  Speaker 3: and it actually builds greater trust because you've got these
• 26:54
  Speaker 3: quantified sources of proof evidence that you are are, that
• 27:00
  Speaker 3: you've got an exceptional reputation. We we know how important
• 27:06
  Speaker 3: UH trust is when it comes to UH making referrals,
• 27:10
  Speaker 3: and they're generally two kinds of trust, right there's UH
• 27:14
  Speaker 3: cognitive cognitive trust where you know what, that's the thinking part. Yes,
• 27:19
  Speaker 3: I believe these people are credible, and I believe they
• 27:23
  Speaker 3: know they know what they're doing. And then we have
• 27:26
  Speaker 3: the effective or emotional trust. It's that god feel Oh
• 27:30
  Speaker 3: you know what Tony and is as folks are awesome. Well,
• 27:33
  Speaker 3: when it comes to actually great referral sources, we want
• 27:38
  Speaker 3: to make sure that we are referral sources with that
• 27:43
  Speaker 3: which allows them to leverage both to feel very strongly
• 27:48
  Speaker 3: both cognitively as well as emotionally to Tony, you and
• 27:51
  Speaker 3: your team are the people that and the organization that
• 27:55
  Speaker 3: we want to refer.
• 27:56
  Speaker 2: Wow, that's a Mike, that's a mic drop moment right there,
• 27:59
  Speaker 2: Andrews Brown. I love what you just said because you
• 28:02
  Speaker 2: are quoting chapter and verse from the Business Development Body
• 28:05
  Speaker 2: of Knowledge. Again, folks, business development is trust building. Okay,
• 28:11
  Speaker 2: the definition of business development is customer and community advocacy
• 28:16
  Speaker 2: that creates corporate growth. Now face value. That makes sense,
• 28:20
  Speaker 2: but it's also a double entendre. It not only means
• 28:24
  Speaker 2: that you advocate for your prospects and clients so that
• 28:28
  Speaker 2: they can grow and you build trust with them to
• 28:31
  Speaker 2: achieve that, but in turn, when you make them a success,
• 28:36
  Speaker 2: when you help them grow, they become your strongest advocates
• 28:40
  Speaker 2: and they advocate for you within the community. And that's
• 28:43
  Speaker 2: what we're talking about here today is building those the network,
• 28:47
  Speaker 2: the community of trusted partners, whether they're your clients, whether
• 28:51
  Speaker 2: they're third parties, and bringing them together in one solid
• 28:54
  Speaker 2: referral management program. And we've talked about today steps one
• 28:59
  Speaker 2: in two. Step one was select your initial goals. Step
• 29:03
  Speaker 2: two was get referral. Ready now, folks, if you want
• 29:08
  Speaker 2: to read about the entire program again, you can get
• 29:12
  Speaker 2: a copy of Andrew's book. It's available on Amazon. It's
• 29:16
  Speaker 2: called Get Referred How to Increase Sales, Velocity, Volume and Value.
• 29:23
  Speaker 2: Five star rated with thirty two ratings on Amazon. It's
• 29:28
  Speaker 2: a great book. I've read it, I really enjoy it.
• 29:31
  Speaker 2: Please grab a copy and folks, like I said, this
• 29:36
  Speaker 2: is a multi step process of podcasts, and we will
• 29:41
  Speaker 2: proceed with steps three and four in the next episode,
• 29:46
  Speaker 2: and I know I can't wait to dig deeper into
• 29:50
  Speaker 2: steps three and four. Andrew Z. Brown, welcome you. Know
• 29:56
  Speaker 2: all of your insights are just so fantastic. Every time
• 30:00
  Speaker 2: I talk to you, I come away not only informed,
• 30:03
  Speaker 2: but just emotionally charged and excited about referral management. You
• 30:10
  Speaker 2: have such a great disposition, it's hard to talk to
• 30:13
  Speaker 2: you and feel down. You would just want to hit
• 30:16
  Speaker 2: just a fantastic source of motivation. How can folks read
• 30:21
  Speaker 2: and connect with you, follow your work and follow your magic, Andrew, The.
• 30:26
  Speaker 3: Easiest, easiest way is connect by all means everyone within
• 30:29
  Speaker 3: the community. Thank you, Tony. It's always a pleasure with you.
• 30:31
  Speaker 3: I get energized after after I speak with you. I'll
• 30:37
  Speaker 3: contact me through LinkedIn and I'm happy to give some
• 30:42
  Speaker 3: copies of Get Referred away to your enthusiastic and very
• 30:45
  Speaker 3: talented members of the GBDA and the community, because I
• 30:50
  Speaker 3: believe strongly in what you're doing, and I think that
• 30:53
  Speaker 3: business I know that business development is as a profession
• 30:58
  Speaker 3: that needs more and more support.
• 31:02
  Speaker 2: Well, and thank you for that generous offer, Andrew. Folks
• 31:05
  Speaker 2: We're going to have a link to Andrew's profile on LinkedIn.
• 31:11
  Speaker 2: All you have to do is click that link, hit
• 31:12
  Speaker 2: the message button, send him a direct message a LinkedIn
• 31:16
  Speaker 2: direct message, and say hey, Andrew, I heard you on
• 31:19
  Speaker 2: the podcast. Would love to get a copy of your book.
• 31:23
  Speaker 2: And if you're a nonprofit organization looking to build your
• 31:26
  Speaker 2: own referral management program, Andrew is also a generally generously
• 31:30
  Speaker 2: offering to help one nonprofit out there. It's a part
• 31:34
  Speaker 2: of his mission for his company to give back to
• 31:38
  Speaker 2: the community. So if you're listening to this and you
• 31:42
  Speaker 2: are in a nonprofit organization that would like to build
• 31:44
  Speaker 2: a referral management program, whether that's to bring in revenue
• 31:48
  Speaker 2: or whether it's to bring in donors or to bring
• 31:50
  Speaker 2: in members, Andrew can help you with that and help
• 31:55
  Speaker 2: you continue your mission forward and giving back. And again,
• 31:59
  Speaker 2: if if you want to reach out to him, just
• 32:02
  Speaker 2: simply DM him on LinkedIn. Andrew, I'll continue to DM
• 32:07
  Speaker 2: you because we have a lot of work to do
• 32:08
  Speaker 2: to talk about the next episode, and I can't wait
• 32:12
  Speaker 2: to jump into those two next steps in your book,
• 32:15
  Speaker 2: and that is evaluating the referral sources and arming those
• 32:21
  Speaker 2: referral sources. With a lot of powerful content and folks
• 32:27
  Speaker 2: stay tuned that episode will be coming out in the
• 32:30
  Speaker 2: coming weeks. Thank you, Andrew, thanks so much.
• 32:32
  Speaker 3: Tony, you well everyone.
• 32:40
  Speaker 1: Thank you for listening to the Business Development Podcast. Join
• 32:44
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• 32:49
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• 32:53
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