Attracting and developing new business is a top priority for agencies.
And for most agencies, referrals are the route to more new business and new clients. According to Hinge Research Institute, generating more referrals is the top marketing initiative for professional services firms in 2015.
The problem is in the results of another study by Hinge that found the sources of expertise-based referrals, which is defined as a referral to a firm that the person knows can solve a specific problem.
People refer someone they've seen speak. They refer people whose content they have read or who they have interacted with on social media. People refer people who have talked about or written about their expertise in a way that builds trust and increases credibility.
Yes, you might have Cobbler's Children Syndrome: your marketing agency is too busy marketing its clients to market itself.
This is a constant struggle.
But if you make the decision to remain "shoeless," you are also making the decision to lose out on valuable referrals, new business, and new clients. You could also surmise that this chart indicates revealing information about not only the sources people use to refer firms but also the sources prospects look to when evaluating firms. We ask for recommendations from friends and colleagues, and then we research those recommendations -- online.
Take the time to craft a positioning statement. Define your purpose. Hire a talented and driven marketing director. Build a conversion-focused website. Become known for being the expert in your field. And write a book about your expertise. Then, watch the referrals roll in.