Situation: A company is growing its sales capabilities and adding staff. The CEO wants to improve the company’s ability to generate new business. To date they have relied on informal channels to generate referrals. How do move from informal to formal processes?

Advice from the CEOs:

• Establish as standard practice that all personnel ask for referrals in normal communications with:
  • Clients
  • Sales associates of partner firms
  • Individuals who are trusted advisors of potential clients – lawyers, CPAs, financial advisors.
• Different groups – CPAs, lawyers, financial advisors, etc. – have different interests and potential fears about making referrals. In conversations with individuals from each group, ask why they make referrals, how they are serving their own clients, and what potentially concerns them the most about making a referral.
  • Once this data has been collected, develop proof statements for each audience that address their needs and concerns. These may be different between different audiences.
• Do the same with new clients, as they become clients. Ask why they chose your firm, and what most appealed to them about the firm. Make this part of the initial client services interview. Collect this data and create proof statements about company performance that will appeal to other potential clients.
  • Note that the responses from brand new clients may be significantly different from those of clients who have been with the company for a year or more. The latter group knows the company, and this will color their vision. Responses of new clients will be more germane to the needs of prospects.
• Create a system to track frequency of contact with key referral sources. This system will identify, among other things:
  • Contact name, contact information
  • Contact history (contacts to the individual by the firm)
  • Referrals received from the contact
• After contacting an individual who has been referred, always communicate promptly back to the referrer that the company has made the contact and the results. Always say thanks. Provide the referrer comfort that they will not be shut out.

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