How to structure Your Referral Program to Generate All the Referrals You Will Ever Need

If you want to drive your business through referrals, it’s vital to implement a systematic process you can execute consistently. Whether you call it a referral system or referral program, it needs to contain several components.

These include:

  • Define how you will integrate the most appropriate referral strategies into your client service system in a consistent way so that it becomes standard operating procedure. For example, you might make the referral conversation a standard part of certain types of meetings. It always happens in those meeting types.
  • Determine how you want to position the referral process with your clients. Do you want your clients to perceive your referral program as primarily a way for you to grow your business or do you want it to be about helping people they know?
  • Map out how you will cultivate closer relationships with those who can be consistent referral sources. You will need to include how you will make the effort of referring you a WIN for the referral sources.
  • Specify how you will reinforce referral sources when they refer you so they continue to do so.
  • Define how you will make the introduction process easy and comfortable for your referral sources.
  • These components of your referral program (referral system) need to fit together in a congruent way. When you clearly specify the 5 components above, you will see a steady rise in the quality and quantity of referrals you receive.

To learn more about constructing a powerful referral program that generates all that you will ever need, write to or visit

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"While last year was a tough year for most advisors, for me it was a record year and so much more. While others advisors were playing defense, I doubled my assets. With the strategies and processes you help me put in place, I was able to re-structure my business to protect my clients and rapidly bring on new HNW clients. With your help, I was able to hit all my targets and bonuses. And I was able to reward myself with my ultimate dream come true. A new Shelby Cobra replica with a 500 hp - 428 Cobra jet engine. I feel like a 6 year old on Christmas morning! Thanks for helping make this happen.

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Paul A, Wells Fargo Advisors

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