Client Incentives

TreadStone

Do many of you offer existing clients a "financial carrot" for them to recommend you to potential new clients ?

If so, is it usually in the form of a "cashback", "% discount on next years fees", B&Q vouchers or whatever ?

More importantly, does it work in gaining new clients ?

TreadStone

Nice idea

burg

I've tried various methods. We have done a discount and we have done a cash back. We currently do vouchers. All the various methods made little difference in my opinion. Referrals from clients have gone up but I think that is because of client numbers. When I send a voucher to the client the response is often thanks but we would have referred you anyway.

We gain plenty of new clients both via referral and via advertising. I think this comes from good service, fair pricing and being honest and helpful. Take care of the clients you have and they will tell others.

TreadStone

That's interesting. It will obviously depend on current client numbers, if you already have 300 clients then referrals will be higher than a new business with only 30.

I'm coming at this from my my own perspective (under 20 clients but looking to increase numbers this year) and from the practice I work for (250+ clients with occasional referrals).

Gem7321

I thought about doing something like this but refrained and so far I feel I've made the right decision, referrals are coming in anyway based on good service and fair rates