More VIP clients: the no-cost strategic referral system
Have you ever wished you could duplicate your A+, VIP clients? You know, those people that you love to work with, and if you had a hundred (or whatever) of them, life would be perfect. Wouldn’t that be great? Wouldn’t it be even greater if it wouldn’t cost you anything to do it? This article will show you how to use a no-cost strategic referral system to attract more of the VIP clients you want.
Estimated reading time – 3 minutes
Offer a gift to make your Top 5 clients look great
Make a list of your Top 5 clients. The Top 5 clients spend the majority of their time with people like them. Think about it – people who play tennis hang out with other people who play tennis, lawyers hang out with other lawyers, and people who shop at Pottery Barn hang out with others who shop there.
Now, go to each of these Top 5 people and say this –
“We really, really appreciate you as our client. In addition to that, we feel that you’re not just our client, but our friend. If we had a hundred (or whatever) clients like you, this business would be even more fun than it already is. As a thank you, I’m going to give you something, and it’s going to be a gift that you can give to someone just like you. This certificate for $50 (or $500 or whatever) is for you to give to a friend as a gift so he or she can try my products or services. I’ll pay for it, but I want you to look great by giving this as a present. May I ask you a favor, though? Please give it to someone who is like you.”
Why does this no-cost strategic referral system help you attract more VIP clients?
1.) It costs you nothing initially to give it. It only costs you if someone redeems it. Depending on your profit margins, this could cost you very, very little to offer.
2.) One of your best clients gets to look awesome in front of a friend of his/hers by giving a present.[tweetthis]Get more #referrals and make your best #clients look awesome.[/tweetthis]
3.) This friend will value this opportunity to work with you because it was given as a gift.
How do you know what the amount of the gift should be? Look at these Top 5 clients, and determine their Customer Lifetime Value (LTV). How much will one of these VIP clients spend with you over their lifetime? $500? $5,000? Need help determining Customer Lifetime Value? Now, think to yourself, “If I could have another person just like my Top 5 clients, how much would I be willing to spend to earn them as a customer?” That will help determine what to offer.
Instead of advertising free initial consultations, free reviews, or giving away sample products that cost you money, help your existing clients by helping them look great to their friends.