Business

5 Reasons Incentives For Existing Client Referrals Work

Building your business by having incentives work for existing client referrals can be both profitable and problematic.  On the one hand it’s nice to thank a family for making an unsolicited recommendation, but at the same time, very little can be done in the event the family is not a good fit for your practice.  If that happens, then what?

There are a thousand ways to say thank you and for many IEC’s — especially those newer to the industry — finding different ways to incentivize a recommendation can be challenging.  What is too much?  What is insulting?  We don’t want to do either!

All-in-all, you want your incentives to work for you, not against your efforts.  You want them to assist in building your brand, reputation and promote your expertise.  So, finding the proper balance between incentives through your existing client referrals while building your client base is important to assess.

Here are the top 5 reasons why incentives work with existing client referrals:

  1. Service-based discounts or perks can strengthen your clients loyalty, become more invested in your brand and therefore, they will become likely to refer more potential clients.
  2. It doesn’t have to end with one referral.  By providing incentives to provide ongoing referrals, former clients continue to stay on the lookout for families, like them, who need your services.  Receiving ongoing rewards becomes just the thing to keep your client base growing.
  3. Incentives make your existing clients or former clients feel valued!  Continue making them feel valued and the more referrals you’ll obtain.
  4. By providing something of value to your existing client or former client before asking for a referral will build respect and loyalty to your brand and create an atmosphere that grows your client base.
  5. Providing a personalized service to your existing client with personalized incentives for referring potential clients builds confidence in your existing clients knowing the quality of service others will receive.  This assurance in service will become contagious!

Do you have any good ideas for quality incentives to offer existing clients for referrals?  Leave a comment with your idea!

 

 

 

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