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4 Tips To Get Valuable Referrals That Turn Into Clients

September 01, 2017 10:00 am

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4 Tips To Get Valuable Referrals That Turn Into Clients

Without the shadow of a doubt, valuable referrals are the perfect source of new business. But how can we generate more of those valuable referrals that convert to actual clients?

Here are four research-backed tips from Hinge Marketing for generating client-producing referrals.

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When it comes to generating new business, most professional services firms rely on referrals. In fact, according to a study of 530 professional services firms, generating referrals ranked highest in terms of current marketing priorities.

But sadly, most of that marketing effort may be destined to fail.

There are ways to ensure you keep the referrals coming in. Here are some of our favorite research-backed tips.

1. Share Your Expertise By Speaking At Industry Events

We found that speaking engagements are a top source of referrals.

The reason is speaking at conferences and other industry events raises your visibility as an expert. You may even find that some attendees approach you directly. Like a kind of “self referral.”

More importantly, others in the audience will learn of your expertise, and when asked by a client or colleague, will be able to make the referral based on what they learned from you.

2. Write Educational Articles And Blog Posts

Another great way to get non-clients to make referrals is to educate. Just remember that your audience for your educational content is prospective clients not fellow professionals. For maximum effect publish or post in publications read by your target audience and their influencers.

3. Give More Valuable Referrals

People often make a referral to a firm that sent a referral their way. So, to get more referrals, give more referrals. This remarkably consistent relationship is shown in Figure 1.

The impact of reciprocity is evident when looking at the top 20% of referral makers compared to the bottom 20%. Professionals who make more referrals receive more referrals.

Reciprocity works well, but only if you are in a position to give a lot of referrals to someone who can make the appropriate referrals to you. Make sure both conditions are true before your invest your time, resources or reputation.

4. Deepen Social Relationships With Selected Referral Sources

Referrals can come from social relationships and friendships, but only if the referrer is familiar with your expertise. The notion of meeting new people and developing friendships to get referrals is destined to fail if it is not based on understanding your expertise.

That is why we suggest you concentrate on those individuals who both know your expertise (such as a client or fellow professional that you have worked with) and are in a position to make referrals to you.

To learn how to generate more referrals, click here.

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