Referral leads – all professional services companies want them; very few of them can easily get them. No matter what marketing activities our clients in the services arena undertake, they all report referrals as the best type of lead they can obtain. Why? Referrals are typically acquired at a lower cost while also being more sales qualified than your standard digital or traditional lead. After all, your firm’s clients are out there attending conferences, networking, and meeting other businesses with needs similar to their own. So why not leverage them as a lead generation resource?
But attracting referral leads is typically easier said than done. Hinge Research Institute found that 69% of clients are willing to make referrals to their service providers. And yet, 72% of clients have never been asked to do so by the firms they work with. Many professional service firms struggle with the “ask”. These referrals often come as friends and close associates of existing clients, and it can be challenging to ensure the relationship with the existing client isn’t damaged during this process.