Referrals REQURIED - YES! I Charge A Premium To Clients Who Don’t Refer Friends... Here's Why.
And why, I recommend many of my clients do the same!
I can't Seem To Break The Habit
My mom warned me about this...
My mom was a very successful corporate ethics consultant in the 90’s.
She warned me once that her biggest client was also one of her biggest mistakes when she went out on her own.
She was so focused on going above and beyond for them, which they loved, that she didn't have enough time to get more clients for her business.
Her business took a hit from doing too good of a job.
It makes so much sense. You may have done it before yourself.
As for me… I always put client work ahead of my own.
Try as I might, I just can't help it.
It happened Again Last Night
I woke up a few hours early today to finish this very article for my business, but - I was supposed to have finished it last night.
It’s not like I didn’t work long enough to get it done…
It’s not that I didn’t know what I wanted to write…
It’s just that I had a late meeting with a client and I got completely absorbed into what we were talking.
By the time we got off our call my brain was spinning with ideas for them.
If you know me at all… you know that’s a good thing for them.
going An Extra Mile - Past The Extra Mile
Next thing you know:
- I Created a framework for the idea.
- I branded a tool for the framework.
- I wrote a short script to promote it…
I couldn’t wait to show my client how to use it to book more calls with ready-to-buy prospects.
When I was done, I had no energy or inspiration for my own stuff.
I get so much joy out of helping my clients get more clients…
Sometimes I forget to help myself get more clients.
So, It's only Fair
Here's the thing...
If I can’t stop putting extra effort into my clients, then I want to put forth the effort for clients who appreciate the extra.
The best way to show appreciation, is to share how I helped you with people who could also use the same type of help.
Or to put it another way…
As I help you get more ready-to-buy clients - pre sold on your value…
You bring me potential clients - pre sold on the value that I provided to you.
Then I can spend my extra time and effort helping you - even more.
Referrals Are REQUIRED
Isn't that asking a lot?
I get that it is an extra effort to essentially REQUIRE clients to bring me more clients.
But, I will put in the extra first.
I will go above and beyond because that’s what I do.
All I ask is, if you appreciate it, you introduce at least 2 referrals by the end of our first year together.
If you don’t want to, or if you can’t send referrals, that’s fine...
It's actually more than fair
If you don't want to sent any referrals my way, no hard feelings.
I just have to charge you accordingly for the extra work I did for you - if we want to continue working together in the future.
The way I do that is to charge a premium in our second year working together. After the efforts have had a chance to pay off in your business.
What's the premium I charge?
It depends on how much value my extra effort brought to your business.
So you see. - It’s actually more-than-fair!
Because it gives the extra work I do time to pay off in your business before you have to actually pay for it.
In the End, It's All Up to you
If you choose to...
Now, if the extra work doesn’t add extra value, then chances are we wouldn’t still be working together after a year anyway. You won't owe me a thing. We walk away friends.
But if it does help bring you more ready-to-buy clients, then why wouldn’t you want to pay back the extra effort?
You would want to pay it back.
And I would want to keep going above and beyond.
CASH or CLIENTS -
It gives you options on how you to pay it back - if you choose to...
If you are my client, I will go above and beyond.
you should make referrals required too
Hopefully my REFERRALS REQUIRED program will help me avoid the challenge my mom warned me about.
The goal is to help me continue to grow while I help you do the same.
And here's the thing about referrals that you may not know:
- Referral clients cost an average of 6X less to acquire.
- Referral clients generate, on average, 500% more revenue in the first year.
- Referral clients have a 37% longer client lifecycle compared to regular clients.
Referrals are typically the most valuable type of client you can have.
That is why I charge a premium for clients that don’t introduce referrals to my business.
And because I care about my clients growth...i
It's why I suggest my clients do the same.
"Most Businesses Get Most Of Their Business Through Referrals - But Most Businesses Spend Most of Their Marketing Efforts Not Getting Referrals." NK=