Why Referrals Matter: Igniting Growth Through Client Advocacy
It’s an interesting contradiction to me; correctly leveraging a referral is one of the most lucrative and dependable forms of business development, yet so often, professional service organizations focus on acquiring new clients as their primary growth strategy, while neglecting their referral base. If the majority of a B2B’s book of business is repeat business, why not develop a robust referral program? Why not take your clients who love you and make them brand advocates?
Let’s face it, it’s easier to get work when you’re referred because you skip all the “sales activities" that you do when you have to nurture a lead, educate a client, review pricing and close the sale, vs. starting a valuable and trusted relationship with someone based on a referral. These clients tend to also yield higher fees and longer relationships over time.
Are you standing in your own way?
It can feel awkward to ask at first, I get it. But the irony is if another professional that you like and trust asks you for a referral, you’re more than likely going to give an enthusiastic “Yes!” followed up with “What do you need me to do?” If receiving the ask doesn’t feel weird, then why should asking?
Or maybe it’s a misperception of time or scale. Taking the time to do this must take hours and hours and a full marketing team, right? Wrong! No matter the size of your business or how many clients you currently serve, it only takes one quality referral to start building momentum. Plus, it’s a confidence boost to get such a positive response from a client.
You’re ready to ask, now what?
Asking for a referral does not have to be a huge time commitment but it does require doing your homework and being prepared. You could consider one or all of these tactics:
Cross-reference two to three individual prospects you would like an introduction to utilizing LinkedIn. Ask your client about those individuals, how well they know them and if they would make a good match for your business.
Prepare a brief written statement outlining why you’re seeking the introduction. Now your client or partner has the reason to make it happen. Ask for the introduction via email (preferred as it is more personal) or LinkedIn.
Be prepared with a follow-up to the introduction. Send out a message within 24 hours to show you are responsive and out of respect for your client’s efforts. I like to use a scheduling link that I include in my follow-up to make it seamless for my new prospect to schedule a meeting with me at their earliest convenience.
Most importantly keep your client or partner updated if you do connect and/or start an engagement. This makes them feel great and closes the loop on the ask.
Do the work up front so your client or partner doesn’t have to. This way you will get the most out of their effort.
What asking for a referral unlocks
The best part of it all? This gives you an excuse to reach out to your clients and connect over something other than a project. Even if the conversation goes nowhere (and that’s highly unlikely), at least you’re in front of them again. You never know what might come up in the conversation. This could lead to more work from them.
If you can successfully leverage referrals and continue to nurture these valuable relationships, you’re creating a network of people who are selling on your behalf. You’re turning your best clients into brand advocates for your organization. Most importantly, you’re spending less time selling yourself and more time winning work and performing the actual work you love.
Over the next week, think about two to three clients you can reconnect with. Make a plan then go for it! I promise it will be worth it.
