According to a study reported in Selling Power Magazine, 80% of all introductions turn into sales, whereas just 55% of referrals do.

Here’s what they found:

• 1% of all cold calls turn into sales.
• 5% of all leads turn into sales
• 55% of all referrals turn into sales
• 80% of all introductions turn into sales.

Knowing this, and knowing that asking for introductions is probably easier than asking for referrals, you should be asking yourself, “Who do I know I could ask for an introduction?”

Maybe everyone. Because everyone knows someone you’d like to be introduced to.

When you’re speaking to a client who mentions taxes, for example, you could ask them who they use to prepare theirs. When they tell you about their accountant, you could ask them to introduce you.

And when you’re speaking to an accountant who does taxes, you could ask them if they have any clients or contacts who are a match for (your ideal client). If they do, ask them to introduce you.

Any time you speak with someone who knows a professional, a business owner, or anyone else who is influential in your niche or local market, find out how they know them and ask for an introduction. This is a simple way to build your network.

And yes, you can also ask for introductions instead of referrals when someone mentions they know someone who needs your services, or is otherwise a likely candidate therefor.

Now, why do you suppose it’s easier to ask for an introduction than a referral?

Is it because a referral implies that you get something out of it, while an introduction seems more benign? Is it because an introduction seems less intimidating and easier to make than a referral?

Why the difference?

I don’t know. All I know is that according to a survey. . .

Of course, if you’d rather cold call and pay for leads, who am I to insist otherwise.

Lawyer-to-Lawyer (and other professionals) Referrals