You’ve heard this for eons: People do business with people they know, like, and trust.
It’s one of the truest sentences in business, and everything else in your marketing derives from that statement, in one way or another.
But have you ever thought about how it applies to getting referrals?
It works the same way. Existing clients will refer new clients to you only if they like and trust you.
Specifically in relation to getting more referrals, there is another universal law of marketing that also comes into play: The Law of Reciprocity.
If you’ve read any of Chialdini’s work, such as Influence, then you’ll recognize this principle with no further explanation. In short, the law of reciprocity states that when you do something nice for somebody, they normally feel compelled to do something nice in return.
In a business context, what we often want in return is to get referrals.
But most service professionals, accountants included, tend to make the assumption that the fact that you did good work for somebody, or saved them a bunch of money, is reason enough for a client to send you referrals. Saving them money on taxes or expenses is the nice thing you did for them.
No, that’s the service they paid you for.
To proactively generate referrals, you have to be nice to clients in other ways. When you are, they will reciprocate with referrals.
There is one single thing that works better than anything else for putting the law of reciprocity into action. One thing that can drive referrals more than anything else.
I’m dedicating my entire section of the July 2020 issue of The Profitable Accountant to explaining what this one thing is.
If you’re ready to start triggering the law of reciprocity in your practice and generate more referrals, then you need to subscribe to the newsletter before it goes to the printer on the 1st, which is this Wednesday. Here’s the link: