Manage Referrals Effectively

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Agenda

• Define your process for handling referrals and developing relationships with leads

• Be prepared when asking for referrals

• Use Internet tools to conduct market research on clients, prospects and competitors

• Prepare effectively for meetings with prospective clients

• Encourage your entire team to take responsibility for finding new clients

• Create a client advisory board and prepare for your first meeting

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Define Your Process For Handling Referrals And Leads

Identify the lead and collect background information

Contact each lead and attempt to schedule an initial meeting

Define action steps to be followed when the lead says “yes,” “no,” or “maybe” – if “yes,” send an invitation to the lead confirming the time and location

If “maybe” or “no,” send a “nice to meet you” email

Prepare for, conduct, and follow up on the initial meeting as you would with any lead

Identify opportunities based on the lead’s needs and add him or her to your sales pipeline report

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Define Your Process for Handling Referrals and Leads

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Be Prepared When Asking For Referrals

Know why you are asking for the referral

Share the definition of your ideal client and how you help them

Define, document, and communicate your process for handling referrals

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Best Practices When Asking For Referrals

Use a script or agenda the first few times

Gather background on the lead from the client

Ask for a warm introduction and arrange to contact the lead

Share your process for handling referrals

Use storytelling to guide the conversation where appropriate

Thank your client

Track activity in your pipeline

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Use Internet Tools To Conduct Market Research

• Understand more about who your client or prospect is and what matters to him or her.

• Build a profile of a prospect’s industry or company to show in-depth understanding and knowledge of the prospect's particular needs and challenges.

• Research a competitor's strengths and weaknesses (via website, published articles, etc.) to better position yourself and your practice when seeking to win new clients.

• Research industry trends for key clients and report back to them to proactively show your interest in and your knowledge of their specific operating environment.

• Access information on a key individual within a company you are seeking to work with.

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Resources For Conducting Market Research

• Warm Call Center

• AlertMix

• Google, including Google Alerts

• Pipl

• Glassdoor

• ZoomInfo

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Prepare Effectively For Meetings With Prospects

Do your research: recent news, background, industry/position, volunteer activities

Create an agenda in advance

Be able to describe what type of client you are looking for, and describe your services

Listen for the prospect’s goals, priorities, pain points, and needs

Define next steps together

Follow up as agreed

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Enlist Your Team In Finding New Clients -- Why

They know what you do for clients

They can vouch for your character

They know people you don’t know, who need what you do

They will feel more involved and included

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Enlist Your Team In Finding New Clients -- How

Include business development activities in job descriptions (making calls to prospects, community involvement, etc.)

Provide continuing education

Offer incentives or bonuses related to getting referrals and acquiring new clients

Publicly celebrate successes

Create A Client Advisory Board

Goals:

• Solicit feedback to improve your practice

• Deepen relationships with board members

Tips:

• Regular or one-off (focus group)

• Consider facilitation

• Develop objectives and a charter

• Identify your “dream team”

• Schedule your first meeting

All Rights Reserved to ActiFi

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Schedule Your First Client Advisory Board Meeting

• Plan the logistics

• Create an agenda and share it in advance

o Include questions to consider

• Prepare materials

• Follow up after the meeting with a thank-you note and a call

All Rights Reserved to ActiFi

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THE BEST QUESTION YOU CAN ASK:

“How would you describe what it is that we do?”

Questions?