Referrals are the centerpiece of most professional services firms' marketing programs. Everyone wants more. But wanting more referrals is not the same as getting more. How do you change the odds in your favor? We've compiled our top 7 referral marketing ideas to Latest Mailing Database help you out. But to make the most of these opportunities, it helps to understand how professional services referrals actually work today. Rethinking Referrals: Why Conventional Wisdom Is Wrong…and What to Do About It, by Lee Frederiksen in the Agency Expert Webinar Series hosted by Hub Spot . Access recording on demand here. Referral marketing in numbers We know that generating more referrals has historically been a top marketing initiative for many businesses.
So most professional services firms know how important referrals are. In fact, many have been able to exist and grow solely through referrals, at least until now. Download the Rethinking Referral Marketing Guide So why aren't your existing customers making more referrals? In most cases (72%), the answer is simply that no one asked them. In other words, they are happy to Latest Mailing Database make a recommendation if asked by a friend or colleague. This is important because it is the source of many of the best referral marketing ideas. At the Hinge Research Institute (our specialist research unit), we conducted a research study of 523 professional services firms to drill down and get the full history of referrals. We know that when most companies think of referrals, they focus on getting referrals from customers .
But what we learned is that 81.5% of service providers were referred by a non-client , people with whom they had no direct experience. Thus, customers are not the only source of referrals. Two types of references To understand referral marketing, it helps to Latest Mailing Database realize that there are two distinct types of referrals. Each type works differently and requires a different strategy. References based on experience. These are references that come from direct experience working with your company. Think of clients or other professionals you may be working with on a project as a source of this type of referral. The strategy here is to get as many people as possible to ask them questions about your business. Reputation based referrals. These referrals come from people who have not worked directly with you but are familiar with your business and its reputation or expertise.