Episode 22: Let's talk about REFERRALS! How to build a solid referral program and system in place

Episode 22: Let's talk about REFERRALS! How to build a solid referral program and system in placeIn this episode of The Wize Guys, Ed Chan with Wize Mentors, Thomas Sphabmixay, and Timothy Causbrook discuss how having a referral program in place increases the chances of getting quality referrals and keeping the business of these clients. They also shared insight on understanding Quad activities and how tracking client NPS as part of the Fab5 KPIs can also lead to a much more streamlined referral system.Find out how a solid referral program and the system can help your accounting practice to scale up.Timestamps:0:55 - How to implement a referral process1:35 - Why referrals are the most efficient way to leverage2:18 - The importance of client service and communication3:29 - What is the ideal time to respond to clients4:10 - Understanding the service industry4:23 - How to create a communication client policies 5:49 - Why client approval meeting is essential7:33 - Tips for giving value to clients11:45 - The positive impact of having your clients involved12:36 - Understanding the emotional bank account13:43 - How to build a solid referral system15:03 - The biggest challenge with referrals16:43 - How habits can affect leading17:19 - The importance of being patient19:21 - Why you should know your team member’s full potential22:59 - How to build a referral strategy23:32 - Understanding the different concepts of quad activities28:49 - Why the first year is all about investment30:51 - The importance of having the right mindset33:01 - Best strategies and attitude to make your team ready35:45 - How client tracking can boost referrals40:50 - Why it is more expensive to win a new client than your existing client42:34 - How to take actionQuotations:“..if you don't focus on the client, you're not going to get referrals from them… The senior client manager's role is to talk to the clients and to have a bridge between the production team and the clients. So they're communicating at the client's level.” - Ed ChanGET IN TOUCH!Website: www.wizementoring.comFacebook: https://www.facebook.com/wizementoring/Twitter: https://twitter.com/wizementoringLinkedin: https://www.linkedin.com/company/wizementoring/Instagram: https://www.instagram.com/wize.guys/?hl=enEmail: [email protected] the full transcript here.________________  PS: Whenever you’re ready… here are the fastest 4 ways we can help you fix and grow your accounting firm:   1. Download our famous Wize Freedom Map for FREE - Find out the 96 projects every firm owner must implement to build a $5M+ firm that can run without them - Download here 2. Need to Hire right now? Book a 1:1 FREE discovery call with our WizeTalent hiring coaches to help find your next team member the Wize Way – Click Here 3. Work with Jamie and our mentors for 8 weeks - Build a custom business plan for your firm - Apply here