by Tony Vidler
Getting referrals consistently is how many great advice businesses achieve systematic growth. “Consistently” is the key word that should be linked to “growth” here…and some research a little while ago in Australia highlighted why so many firms struggle with this.
It is because they are not systematic in their approach to the problem.
A system of course would ensure that there is a regular process for ensuring the market is aware of the desire for positive introductions, and method of ensuring that referral sources are recognised appropriately, a method of capturing the necessary information, and so on. Systems leave little to chance. That is the beauty of systems….an orderly approach minimises the chances of error, and maximises the chances of obtaining a consistent result in a particular task or procedure.
Systems are good.
A systematic approach to the business of obtaining the right word-of-mouth promotion is necessary if you want well qualified and favourable introductions to prospective clients. Despite all the fabulous marketing tools and tactics we have at our disposal today – and there are way more than a decade ago – word of mouth remains the king of lead generation. There is no substitute for the transfer of trust that goes with recommendations or referrals.
Have a look at the summary below from the research and see if there are areas where you could improve your system, and generate more referrals.
I’d suggest that if you are not getting consistent referrals then you might want to look at each of the numbers in red above, and then have a look at whether you are guilty of “being in the red” in the same area.