Referrals provide an excellent resource for extending your reach. These are people who know you and the value you provide and, most importantly, will promote you to their network.
Identifying quality referral sources is the first step. In this article from Accounting Today, John Napolitano offers advice for identifying appropriate people as referral sources and how to encourage them to provide client referrals.
With time, you will start to identify those individuals who provide your best Referral opportunities. They may be existing clients or professionals you have worked with. As these individuals become more prominent in your business, it is just as important to nurture and grow those relationships as it is with your Clients and Prospects.
Cultivating Quality Referrals
You should foster referrals in a similar manner as other business relationships. Referral opportunities require major and minor growth interactions. It is imperative that you maintain that relationship, stay top of mind, and communicate that you are a thought leader. Particularly with Referral opportunities, they must know and remember you because they may facilitate a valuable introduction at any time.
When identifying your most cherished referrals, consider not only the relationship, but also how the relationship positively impacts your firm. ABLE features a Referrals dashboard. On the Referrals dashboard, gauge the inbound and outbound referrals and their estimated value. This dashboard enables you to see, at a glance, the value of the referral relationship to your firm.
You can identify a contact that may not be on one of your Tiles, but has led your firm to thousands of dollars in business. Conversely, you may discover an individual you thought of as a strong referralhas not provided you with quality leads recently.
ABLE provides these tools to help you run your firm better and improve your business development processes. Schedule a no-obligation demo today to see how you can measure and manage your referrals more efficiently.