Get your new referral clients to thank your referral source.

Here’s a tactic that most financial professionals never think about. The ones who do, make sure they do it every time. When Client A gives you a referral to Prospect B, you need to thank Client A. When Prospect B becomes Client B, you want Client B to thank Client A. How do you think Client A will feel? You become more referable, so this stimulates more referrals.

You can just ask the new client to thank the old client (or Center of Influence). Or, you can take the two of them out to lunch together. Try this! You’ll get more referrals from both clients.

Today: Think of some new clients who have come to you through a referral. Make sure they thank the referral source or you do it together.

12. Send small gifts to people who give you referrals, even if the prospect doesn’t become a client.

I’ve seen several studies that demonstrate conclusively that sending a small gift to say “thank you” for referrals stimulates more referrals. And you don’t wait for the prospect to become a client. Reward the behavior of giving.

I like things that are flat and easy to mail such as movie tickets or gift cards from places like Starbucks or Blockbuster. I would say that your minimum should be a handwritten note. Make the thank you personal.

Some people like to get very creative with their thank-you gifts. For instance, I know several reps who send their client one Waterford or Tiffany crystal wine glass each time the client gives them referrals. Of course, the client wants the set.

Whatever you send, make it appropriate for your personality and your clientele. Have fun with this!

Today: Decide on a few inexpensive generic gifts you’d like to give for referrals. You or a staff member should go buy a few and create a small inventory that you keep on hand. If you have to go shopping each time you get referrals, you’ll forget to do this step.

11. Contact referral prospects as soon as you can and keep the referral source in the loop.

Your referral sources need to know what it going on with the referrals they give to you.. Remember, these are their friends, family, and colleagues. These are the people that they see the most often and share connections with. Keeping your sources in the loop will help both you and them. Let your sources know you are on top of their referrals and you care about their relationships with the people they referred to you.

Today: Send emails to all of your referral sources updating them on the status of your contacts with their referrals. Send updates when you feel it is appropriate.