Referrals are the lifeblood of most service industries, especially legal and financial. And when it comes to how you market your firm, you should focus on maximizing the number of referrals you receive before ever trying to add on other initiatives like SEO or PPC.
But maybe you’re thinking, “Hey Spotlight, I totally agree with you and think you’re absolutely right, but the majority of my business already comes from referrals!”
And if that’s the case, then you stand to benefit the most.
That’s because Texas Tech published a study several years ago saying roughly 80% of your clients and contacts are more than happy to refer business to you, but only about 30% actually do. That means, at best, you’re likely only receiving about 1/3 of the referrals you should be getting.
And here’s the bigger part—that study was done back around 2015 when we had fewer distractions and things grabbing for our attention. It’s highly possible that you’re getting an even lower number of referrals than you should be.
So how do you close that gap from 30% to 80%?
Start by sending an email newsletter, and make sure it contains helpful information. Don’t fill it with calls to action, but instead provide surface-level advice that showcases your expertise and reminds people of the ways you help.
It’s that simple. Send this newsletter at least monthly, and as you get more comfortable in your system, post daily on social media, film videos, write blogs, and start a podcast! The more you do, the quicker you’ll see results.
In other words—build a content marketing ecosystem that creates consistent touchpoints with your audience! Marketing doesn’t have to be complicated, and this method has helped hundreds of firm owners all over the country increase their referrals.
Need help getting started? Reach out to us today.
Spotlight Branding
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