8. Reward Referral Behavior
Every referral – regardless of the quality – needs to be celebrated. At the very least, send a handwritten thank you note to the referrer. If the person they referred becomes a client, take an additional step by sending a thoughtful gift. Always follow up with the referrer to let them know whether you were able to help the person they referred. Have a special dinner with your top clients each year, and acknowledge each person who sent you a referral. The more you reinforce and reward referral behavior from your clients, the more referrals you’ll receive.
The bottom line is that if you want to build a referral-based practice, you can’t rely on a single source for referrals. Strategic planning and effort are required. As legendary football coach Vince Lombardi put it: “The only place success comes before work is in the dictionary.” So as long as you’re willing to put in the work, a thriving referral-based practice may be right around the corner for you!
Robert Sofia is a best-selling author, award winning public speaker, and financial industry thought leader. He has developed marketing strategies for Fortune 500® companies, personally coaches hundreds of financial professionals nationwide, and is the cofounder and C.O.O of Platinum Advisor Strategies.