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The Power of Referrals

Posted by Ken McGovern in Board Advisory, Executive Search, Leadership, Team Development | 0 comments

02.11.20

Have you ever commented on a social media post of someone looking for a recommendation for a plumber, pet sitter, accountant, etc. and recommended your favorite and most trusted people? If so, you’ve given a referral to someone. Whether solicited or not, you’ve just recommended someone to another person to consult, review, or take further action on because you think they would be a good fit for their need. From a business perspective, getting referrals from satisfied customers is one of the best ways to attract new customers.

For many  businesses, word of mouth advertising can say a lot about the quality of your products/services and can help you grow your business organically vs. paid marketing and advertising. Referrals offer the most effective return on investment and carry more weight for most potential customers vs. an online or print ad.

A referral is the ultimate compliment you can get from a customer. In fact, a Nielsen study found that 92% of people trusted recommendations from people they know, and 70% trusted consumer opinions posted online – think Google, Yelp, Facebook, Glass Door, etc. When it comes to choosing the right company/product/service, most people have several options to choose from and a plethora of information online to do their research. At the end of the day, people want to know that their decision is informed, they are getting value, and that their decision is validated by someone’s prior experience.

It doesn’t matter what type of business you own; referrals can still be your best marketing tool. Here’s 5 ways to gain more referrals:

  1. Have a WOW factor. What sets you apart from your competition and makes your clients say Wow, I need to work with Mr. Smith. Showcase that WOW.
  2. Give the people what they want. Make sure you are promoting the products/services that your customers want vs. what you think they want. If you are a financial institution that keeps promoting savings accounts when people really want to learn more about mortgages or home equity loans, then you’ve missed a huge opportunity with your customers.
  3. Make referrals easy. Don’t make people jump through hoops to get to you. If a current client wants to copy you on an email to a potential client, let them. Don’t force them to fill out a form or contact you via your website first. Keep it simple.
  4. Just ask. If you’ve just done an amazing job for a customer and they are showering you with compliments and thank you’s, ask them to spread the word if they are willing to anyone who might need your product/services. Even in this digital world, people still like human connection, and a direct word of mouth referral from someone can go a long way.
  5. Utilize social media. LinkedIn, Facebook, Twitter – all great places to connect with your customers and interact with them via your business. By having a business page, people can easily tag you when making referrals on social media. You can also enable reviews on some social platforms so customers can leave feedback on their experiences. You can add some of these testimonials to your website as well.

Referrals can be for so much more than just product/services as well. It’s also one of the best ways to find a new job if you are a job seeker or find employees as a business. Happy employees LOVE to talk about how great their job and their company are. They will go out of their way to recommend it as a place to work to people they know who may be job hunting. From the employer perspective, it’s a great way to find potential qualified candidates who are vouched for by a current employee.

Have a product or service that you highly recommend? Let me know, it might come in handy!

Hiring in the New Virtual World

Posted by Ken McGovern in Executive Search, Team Development | 0 comments

13.07.20

With some companies continuing to let their employees work virtually to increase safety and social distancing measures, many have found themselves in new and uncertain territory when it comes to the virtual hiring process.

The good news?  There are  myriad  virtual recruiting tools that can help you safely source high-quality talent. After all, hiring the right employees is still a vital part of the success of your organization.

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The IQ vs EQ Debate: Beyond the Resume

Posted by Ken McGovern in Executive Search, Succession Planning, Team Development | 0 comments

08.11.19

Identifying the RIGHT prospective employee is a journey that goes beyond simply finding resumes that boast high GPAs from highly ranked schools or impressive professional credentials.  In fact, I cringe when I think of all the truly qualified people who are overlooked by “black box” online hiring filters just because they are missing a key word in their resume.  Technology is great…until it isn’t.

For me, the credentials are important, but they are secondary to the “person.”

On behalf of my clients I phone screen prospective candidates for IQ (Intelligence Quotient) – hard skills, professional experience, job transitions – basically, reviewing what is in black and white on their resume. I am focusing on topics and skills that are teachable, learnable, measurable, and quantifiable. Yes, I need to know that they have the capacity to do the job, but I don’t overlook someone who has never held the position I’m hiring for. It’s about their overall skillset – I’m looking macro, not micro for most searches.

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What we can learn from El Capitan

Posted by Ken McGovern in Executive Search, Leadership | 0 comments

23.07.19

I’d like to think I’m a moderate risk taker – I’m one for taking some good calculated chances here and there.   I’m NOT one for even thinking of attempting a free solo climb of El Capitan like Alex Honnold (check out this documentary if you want to bite all your nails off and sit on the edge of your seat with one hand over your eyes and the other hand gripping the arm rest).

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Two Quality Candidates – A Nice Problem to Have

Posted by Ken McGovern in Executive Search | 0 comments

14.03.19

Two highly qualified AND likeable job candidate resumes are sitting in front of you.  You’ve gone through extensive interviews, background checks, and reference checks on both and now it’s decision time.  Enough waffling, enough “Pro and Con” back and forth in your brain – you must choose one or the other.

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Don’t Hire Me Until…

Posted by Ken McGovern in Executive Search | 0 comments

02.11.18

Let’s be honest, building out A-Teams for your business isn’t easy. Great talent, great culture, profitable business – we all want it! The issue arises when business owners get impatient with the process.  They have a talent gap, they want it filled… yesterday.  Unfortunately, when hasty hiring decisions are made to fill a role, a lot of proverbial rocks are left unturned.  The result is high turnover and employee morale takes a nose dive.

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Search is an Extension of Your Company

Posted by Ken McGovern in Executive Search | 0 comments

09.01.18

In my line of work, I speak with a lot of potential hires on behalf of client organizations, so it’s not surprising that I’ve learned quite a bit about what candidates want and don’t want from me and the companies I represent.  We believe that what makes KMR’s search process different from every other firms is our focus on becoming an extension of your business.  We learn the ins and outs of your company, what makes you different and unique, so that we can represent your brand and your culture in the candidate marketplace.  Beyond the job functions and expectations, we consult with a client organization to fully understand their marketplace, their culture, their pain points so we can provide to you a short list of the highest quality candidates for the role, not a long list of possibilities.

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