Often people do not know how to follow-up when someone refers them out business. Referrals are powerful, but it is rarely a "one-way-street". Most people refer you business as a way to build their business up as well. When someone refers you out business, they are also acknowledging to the one they are offering the referral to, that your business has their "stamp of approval". So show them appropriate appreciation! If someone refers you out business, we suggest:
- Thank them
- Follow-up with them and let them know how the referral played out
- Attorneys are not allowed to provide compensation for referrals to anyone other than another attorney, but you can provide a "thank you" card
- Refer them business in return
- Affiliate compensation sometimes work and sometimes doesn't - consider all the expense involved.
It is very important that you take time out to say thank you to those who refer you business so that they know whether you closed the business or not and so that they feel motivated to refer you business again. We like to refer business your way.
Keep us in your loop, and let us know if you have any other helpful tips for business referrals!
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