Stacey Randall – Referral Empire
In this episode of The Millionaire’s Lawyer, JP and Stacey Randall discuss:
Stacey helps her clients generate referrals without asking for them; to do that she helps cultivate relationships between the business owners and their sources.
Referrals are great because:
- Easier to close
- Less price sensitive
- Trust is already there
Definition of Referrals:
- Always a personal connection – The trust is transferred
- Need Identified – Already in the buyer mentality and know what they are looking for
Once you notice it is a referral the dynamic of the sales pitch is different, it removes the stress and pressure. Stop selling yourself, just start helping them!
Stacey helps her clients understand that referrals do not fall under prospects or Marketing, rather they are their own thing.
Work is involved in getting your referral sources locked down, and is only successful you are referable.
You need to deserve it, you are not owed anything
First two steps to start Stacey’s program:
- Create a list of the referral sources, it is a HUGE asset as they are handing you work
- Determine how to take care of the sources, touch base with them to maintain that trust.
- Should reach out between 4 and 8 times a year – keep it consistent.
- Different based on who the sources are
- Be comfortable and genuine
- Stay on the top of their mind
- Connect human to human
You need to ensure that you are getting good quality referrals, and if you are not then you may need to shift your language when talking to the source to notify them.
Make sure that you close the loop, let the source know that you are thankful for the referral if it worked out or not, and if not why it didn’t. Do not become noise, make it personal.
Touchpoints should not become noise and interrupt the source; be memorable and meaningful.
From this episode of The Millionaires Lawyer with Stacey Randall:
- Cultivating a relationship with your clients is more beneficial than one may believe.
- Referrals only work if your actually referable, make sure your customer service is on point and your work is up to what they are expecting.
- Reaching out to your referral sources to maintain a trusting relationship is something all business owners should do.