COMMUNICATE > Referral strategies

Referrals are too often taken for granted.
Referrals are the lifeblood of a professional’s business. Yet too often, they are assumed, not fostered. Referral sources need to be tracked, cared for, rewarded and added to as needed. Each professional should track the kind of business given by each source as to quality, profitability, nature of the work. Reward those who give you solid referrals. Educate those who do not, but could. Reclassify those who do not produce good leads as friends, fun, etc. but not sources of business.

Track your referral patterns.
Use research techniques to track referrals to and from professionals and practice groups. Then build referral systems that reward the most prolific relationships.

See Carol’s article about measuring referral efforts. “Turning Referrals Into Gold,” Solos and Small Firms Special Section, New York Law Journal, June 26, 2006 [with Laura Wexler]

Do You. . . .
        Know who are your best referral sources?
           How much they know about your firm?
           How often you reward them?