How to do Referral Marketing

You have a true business once you have a marketing system that delivers quality clients in a predictable and consistent manner.

[1:25] Marketing comes down to three fundamental elements: your market, your message, and your medium. Most people focus on the medium first which is a major mistake, the first thing you must do when it comes to marketing is to focus on your market. Understand the things they want to experience, the jobs they do, and the pains they are trying to avoid.

[2:50] The number one mistake people make with referral marketing is going into it saying “what’s in it for me?” Instead of leading by being selfish, we should flip that around and think more about what we can offer your referral partner.

[4:00] Ask them about how you can help them and listen to the conversation to identify the same jobs, pains, and gains as you look for in your market. You need to see referral partners like you do your clients because in many ways they are.

[5:05] One of the struggles of commercial bankers is having a business with a loan that has incomplete or nonexistent financial statements. This is a problem that you as a professional bookkeeper can solve for them.

[6:20] You can use the same framework to identify good referral partners in all sorts of industries. The key action item is to change your mindset around referral partners and lead by bringing value to the relationship first.

[7:15] Make a list of the roles that have the eyeballs of the niche that your business serves. Ask your clients who they work with and pay attention to, those are great candidates for referral partners.

[8:30] Like all marketing, referral partners won’t yield results immediately but will pay off long term and lead to greater success in your bookkeeping business.