Referrals are generally warm leads. The amount of time needed to close these leads is usually shorter because the prospect is taking the word of someone they trust. That’s why referrals will always be an important growth strategy, but you cannot leave them to chance as they must be developed and cultivated.
Identify Your Referral Sources
A referral source can be a client or a center of influence (COI), you need both. Clients are easy to define, but COIs can vary. For example, the typical banker, lawyer or investment advisor is probably who came to your mind, first, but COIs are more broadly defined.
Do not do the same thing you do; as a result, they are not direct competitor
Come in contact with people who are your target client
Know exactly what you do and how you add value
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Katie Tolin is founder of CPA Growth Guides, which she helps CPA firms across the country drive top-line revenue and profitability through data-driven marketing strategies, specialization, inbound marketing and formalized sales processes. She has spent nearly 20 years in professional...