The most effective and least expensive method of client acquisition is to create an endless chain of high-ty referrals. (A tremendous resource on this subject is Wayne Cotton's Web site: www.mycapabilitygap.com.) Here are three steps I've taken to make it happen.
1. To make the most of my referral-gathering efforts, I first had to establish a specific client profile. After a brief study of my practice, I found that my most enjoyable and profitable client relationships actually fit very narrow parameters, from age and income to even hobbies. I then knew exactly who I was looking for and what to do when I got there.
Our business provides the opportunity to be so many things to so many people that we can easily become distracted and diffused. We should focus on one or two areas and become experts in them. Ours is a society of specialists, not generalists, and it's important that we know our own specialty.
2. I have also learned to treat the referral-gathering interview as its own event. It is so easy to treat referrals as an afterthought, which causes clients to treat them that way, too. But when I properly set the stage and lay out my clearly defined profile, the quality and quantity of my referrals increase significantly.
3. In order to turn these introductions into appointments, it is important to properly overcome the most common phone objection. After I've asked for a meeting, the prospect almost always says, "That sounds fine, David, but my schedule next week is really up in the air right now. Call me on Monday, and we'll set something up."
This objection derails more appointments and careers than any other. It is destructive because it doesn't sound like an objection at all, and in the mind of the prospect, it may not be. The problem is that nothing will change between now and Monday, so when I call back, he or she will ask if I can follow up in another week. This pattern will continue until I break through it.
When I hear that from a prospect, I respond with, "How about this? Let's tentatively plan on Tuesday at 9 a.m. at your office. I'll put that in an e-mail to you, and if you end up having a conflict, just let me know."
