5 strategies to double your referrals
Having a referral process can get you the best clients in a short time frame, with minimal effort—it is arguably your most important client acquisition strategy, and not one worth leaving to chance or ‘word of mouth’.
You can easily implement a process to effectively gain referrals, and in doing so, acquire more clients who have a higher potential for retention, loyalty and profitability.
Here are 5 steps you can take today to dramatically increase the number of referrals your firm is currently getting.
Identify who your best advocates are
Those who you enjoy working with most and are the most profitable (hopefully these are the same clients) are your best bet for new referrals. These are the clients that you want more of, that you have strong relationships with, and that have good reason to refer your services. It’s yet another reason why building great relationships with your clients is so vital to the success of an accounting firm.
But don’t miss out on less obvious potential advocates. If you send out a client survey, include the question: How likely would you be to recommend us to your family and friends? Those who answer ‘very likely’ obviously make sense to approach about referrals!
Identifying who the right clients are to speak to will give you a more targeted strategy and a better chance of those referrals leads converting.
Learn to notice referral opportunities
Every client interaction can be a referral opportunity, but there are certain scenarios that can prove more fruitful than others. At the completion of work that your client is happy with, or at the close of a great face-to-face meeting, you must take advantage of a clients’ satisfaction.
Remember it isn’t always obvious to your clients that they can do something simple to help you immensely. You may only have to mention how important referrals are for your firm for them to become a more outspoken advocate—they may even be happy to make introductions.
Just ask
Asking for a referral will not threaten a client relationship and if you ask in the right way, won't come across pushy. Keep it natural and unobtrusive—as simple as a quick ask at the end of a client meeting:
“Do you know any other business that may want or need our services?”
If the answer is yes, dig deeper—get the name of the business and their contact, then reach out. Remember it’s not a cold call, it’s a warm lead. Mentioning the referral source will open the door, and then you need only show them what your referring client sees in you.
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