Question:

I just read the article, “End of Year Gifts for Clients” and thought it was great. We try to send personalized gifts to our clients as well. We have given some great gifts to those that referred someone to us that became a client. My question for you is what about birthday gifts? Are they necessary or should we focus only on end-of-year referral gifts? We’re currently doing both and want to know if our money is better spent elsewhere.

Answer:

Thanks for taking the time to write.

I have no strong opinion either way regarding sending birthday gifts.

My gut reaction is “yes” do this for your “A” clients or Centers of Influence who you want to treat like your “A” clients.

Pull out all the stops for your “A” clients and COIs. Pull back somewhat for your “B” clients and even more for your “C” clients.

Host client-appreciation events to build business friendships.

In my last entry, I addressed Referral Events. I see those separate from Client Appreciation Events. Remember, the purpose of the appreciation event is to say “thank you,” and not to drum up business. This is your chance to spend some real quality time with your existing clients and strengthen those relationships. The events should be fun and light, with absolutely no business being discussed, unless of course, the clients bring it up.

Client appreciation events can be larger than referral events, because you already have a relationship with your clients. The goal is to get to know each other in ways that go beyond your business relationship. Client appreciation events shield your clients against your competitor.

Today: Plan a client appreciation event for the next quarter. Think about your client’s interests and leisure activities when planning the event. If you’ve never done one before, start small.

There is no better way to get to know prospects than in a social setting. Your clients will appreciate being treated to a night on the town (or wine tasting, or chocolate tasting, or golf swing analysis, etc.) and their friends (your prospects) will too! This will also give your clients and prospects a chance to see more than just you as their financial professional, but as their business friend. If you’re married or have a partner, see if they’ll be part of this with you. In some cases, you might even have your children there. For more advice on referral events, check out the Referral Minute archives at: http://www.referralcoach.com/newsletter/ref-min-archives

If you have any Social Prospecting strategies and techniques that have worked for you, please contact me directly. I’d like to interview you for my book on the subject. Send your message to: Bill (at) ReferralCoach (dot) com.

Today: Plan a referral event for the next quarter. Don’t plan too big of an event. First, you want maximum time with your clients and prospects, to create a solid connections. Plus, if you create something too daunting, you’ll never get to it.

Have a process for keeping track of new referral prospects so none of them slip through the cracks.

I cannot emphasize the importance of this enough.  You MUST track your referral activity and keep in touch with prospects and referral sources alike.  Not only will this help you ensure no prospects fall through the cracks, it will enhance your reputation among your clients as trustworthy, capable, and on top of things.  This in turn will make you more referable.

Today: Create a tracking sheet for your referrals and use it.  Enter all the referrals you received over the last 30 days.  If you need some help, our Introductions Journal will get you on the right path.