Everybody knows you should thank clients when they refer business to you. But financial advisors can’t agree on the right way to express their thanks.
Is a verbal thank you at your next client meeting enough? How about adding a card, gift or discount on your professional services? Often your response depends on the nature of your relationship with the client and the value of their referral.
If you decide on a card, must it be handwritten? Or could you use an automated service such as SendOutCards? I know advisors on both sides of this debate.
Some advisors reward referrals with a discount on their fees. Others shrink from this approach. They feel discounts make clients question the validity of their pricing. The non-discounters may prefer to buy dinner or send a gift to the referral source.
What do YOU think? Express your opinion in the poll you’ll find in the right-hand column of this blog. I’ll share the results of the poll in my April e-newsletter. (Note: The poll is no longer active, but you can read the results on page 3 of my archived newsletter.)
Update on June 23, 2013: The combination of urLetters and urFont might substitute for SendOutCards with something that appears handwritten. Learn more about the two apps in “App puts a techie twist on writing letters,” which appeared in The Boston Globe. I haven’t tried either app because I prefer to write longhand.
Image courtesy of Stuart Miles/FreeDigitalPhotos.net