The Rainmaker Academy Presents

Referral Source Development

Start / Stop / Continue The Rainmaker Academy will equip you with a number of tools. One way to organize the tools in a constructive manner, is to place a Start/Stop/Continue matrix inside the front cover of your course book

Objectives Describe the Power of Referral Selling Allocate Time and Money Appropriately to Referral Selling Develop Techniques for Generating Referred Leads Target Specific Individuals for Referral Development

The Pipeline Concept

How Do We Generate Leads? Advertising Newsletters Networking Seminars Referrals

Target Markets Clients Third-Party Referrals Target Prospects General Business Community Individuals

Tell About A Time… … You received a phone call from someone you did not know and they said to you, Your client, _______, said that you did this and I would like to talk with you about doing it for me."

Why Referrals? Prospect is Pre-Sold Prospect is Pre-Qualified Less Competition Less Fee Pressure No Written Proposals High Closing Ratio Perpetuates the Firm

Better Than Expansions Opens New Doors Broadens Client Base New Referral Base Reduces Risk of Client Loss

Why Clients Don’t Refer… Focused on Their Business Don’t Think About It You Don’t Ask Not Aware of Range of Services Don’t Think You Want More Business Think You’re Overworked Not Pleased With You

How We Stimulate Referrals? Ask Enhance Their Revenue Regular Contact

Breakout Session Firm’s Marketing Budget Allocation to Referrals Personal Marketing Time Money Allocation to Referrals

Seven Aces Value of one $15,000 Client x Ten Years = $150,000 If An Ace Brings You One a Year = $1.5 Million total over 10 years

Who Is The Best Source For Referrals Delighted Clients Attorneys Bankers Client Former Employees Other CPAs Others

Prepare Your List Largest Potential Seven Names Good Yield Cross This One Off

Target Profile Magic Word We are expanding our business and I need your help. Who do you know who....?

Target Profile Visual Aid Positions Your Target Lead Focuses Your Referrer’s Thinking Is a Sales Call Leaves a Lasting Impression

How Do We Go About Asking For A Referral? Direct Approach Do you know this person? Client’s Customers and Suppliers Indirect Approach Client's Lawyers and Bankers Annual Letter Seminar Response Card Newsletters

Direct Approach

Workshop Use Your Own Words

Target Client List Client’s Vendor Client’s Customers Client’s Competitors Client’s Friends Client’s Other Professional Associates

Indirect Approach

How We Stimulate Referrals? Client Panel Glenda Binkley Jack Jacques Michael Burcham

Client’s Attorneys/Bankers

The Annual Letter

Seminar Response Card

Is There A Time and Place?

Time Client is in Euphoria Business is Good Cash Flow is Good Good Times Client is Delighted

Place Most Prepared Their Office Lunch Golf Course Our Office Phone

Enhance Revenue Do Business With Clients Encourage Staff to Trade With Clients Encourage Clients To Trade With Clients Introduce Two Prospects Send Potential Prospects

Attorney Panel Joe Gibbs Andrea Bachra John Titus

Contact Mail Meetings Telephone

Clients Attorneys Bankers Other CPAs Insurance Agents, Sureties & Stockbrokers Real Estate Agents Hosting A Private Business Reception

Once You Have A Name…What Next ? Keep Information Ask Questions Ask for Personal Introduction Thank Your Ace Keep Ace Informed Reward Your Ace

Referral Process Name – Address - Phone Number Why Would They Be A Good Client? Who Do They Use Now? May I Use Your Name?

Fourteen Referral Sources What can I do to stimulate them? Clients Attorneys Bankers Other CPAs

Assignment Next 120 Days Make 14 Personal Calls On Your Referral Contacts Take Staff Members On Several Live Referral Calls

The Rainmaker Academy says… Thank You!