Finding a way to incentivise partners and clients to refer your business is only the first step towards growing your customer base. The crucial next step is to convert that referral into a client. This requires a combination of strategy, personalisation and professionalism to ensure that the opportunity is not squandered.

Here is some advice on how you can effectively pull this off.

Act Quickly

The biggest mistake many small businesses make is delaying action on referrals, resulting in lost opportunities. Although the referral might come with a warm introduction, the interest in your business might cool if you do not reach out soon enough.

Acting promptly demonstrates enthusiasm and reliability, which builds trust. Generally, a 24- to 48-hour time window is ideal for contacting a referral after receiving their details.

Personalise Your Approach

When a referral comes your way, be sure to reach out with a tailored experience. Reaching out with a generic pitch can quickly undermine trust – not only in you but also in the person who referred them.

Once you are offered a referral, make sure to research them before contacting them so that you are able to mention specifics about their business, their industry or the challenges they might be facing. When it looks like you have done your homework, you are more likely to generate a positive interaction.

Build Rapport, Don’t Just Sell

When you contact a referral, avoid making them feel like the focus of a sales pitch. Instead, build rapport with them, as a personal connection is much more likely to result in a conversion.

Ask lots of questions and listen. As a rule of thumb, before trying to sell them a pitch, focus on understanding their needs. This will help establish trust, as it makes them feel heard and valued rather than manipulated into making a purchase.

Be Clear On Your Value Proposition

Even when a referral has come to you based on a strong recommendation, they will want to understand why they should choose your product or service over the competition. You need to articulate clearly how your specific offering can address their pain points and add value to their business by solving their problems.

Have concrete examples, case studies and testimonials on hand to back up your claims.

Follow Up

Once you have made initial contact, remember to follow up. Many referrals will not convert immediately, but with a few consistent and professional follow-ups, they may eventually decide to make a purchase.

It is important to balance your follow-ups so they do not feel overly pressured. Instead, keep the relationship warm and establish yourself as a reliable resource should they need you.

Infuse Advisors & Accountants aims to provide the assistance you need to grow your business. Contact us today to find out more about our business advisory services.