What should accountants be asking to get the right referrals?
It’s no secret that when an existing client base is retained and sold to, it means cheaper, quicker expansion overall.
One of the biggest catalysts for organic growth is word of mouth referrals – and getting this right means creating buyers that remain customers for their entire life cycle.
Research suggests that referred enquiries are 7x more likely to buy than cold enquiries, and according to a study conducted by Nielson, 92% of people trust recommendations from friends and family over all other forms of marketing…
So why aren’t “refer-a-friend” schemes generating the number of warm enquiries they should be?
The main reason is the most obvious. The majority of accountancy firms are simply not asking for referrals because they either:
- don’t know how to bring it up, or
- forget to mention it altogether.
The general consensus is that accountants need to work harder at generating more referrals and getting them over the line… Not true.
The key is to implement a more effective strategy.
Here’s how can you initiate a conversation with clients that doesn’t sound like a sales pitch:
- Include a P.S at the bottom of your written communications…
EXAMPLE: “P.S – do you know someone who would benefit from our accountancy services and business development expertise? Pass their details on to us and we’ll send you _______ to say thanks for recommending us.”
- Add a line to your email signature that links to your “refer-a-friend” landing page…
EXAMPLE: “Can we help someone you know? Click here and get _______ for recommending us.
- Invite clients to a workshop that extends to their business associates and others…
EXAMPLE: “Here’s your invitation to the _______ workshop we’re holding. We’d love to share our knowledge and expertise with your network. Why not bring your associates along?”
These are just a few of the ways you can make asking for referrals easier AND automatic.
If you’d like more prompts you can start implementing immediately, get in touch with our senior partner James.