Meet David Leichter, the owner of Leichter Accounting Services. He owns an accounting firm with 7 team members and over 350 clients.

In this episode, we talk about one of the biggest challenges for accounting firms… MARKETING! David shares the marketing strategies they use to generate 80% of their new clients.

Show Notes

Host:
Welcome back to another episode of The Accounting Firm podcast where we bring you valuable discussions and insights from accounting firm owners. I’m your host, Shahram Zarshenas and in today’s episode, we have a special guest joining us to discuss how her firm generates 80% of new clients through referrals. Our guest today is David Leichter, the owner of Leichter Accounting Services. David, welcome to the show!

 

Guest:
Thank you, Shahram. I’m excited to be here and share my insights on leveraging referrals for business growth.

 

Host:
Let’s jump right in. Generating new clients through referrals is a remarkable achievement. Can you walk us through the strategies you’ve employed to achieve such impressive results?

 

Guest:
Absolutely. At Leichter Accounting Services, we have made client referrals a central focus of our marketing and business development efforts. One of the key strategies we’ve implemented is delivering exceptional service to our existing clients. We strive to exceed their expectations and provide solutions that help them achieve their goals. This leads to a high level of client satisfaction, which naturally generates positive word-of-mouth referrals.

Additionally, we actively ask for referrals from our satisfied clients. We find that many clients are willing to recommend us to their network if we provide outstanding service and demonstrate our commitment to their success. We make it a point to ask for referrals at appropriate times, such as after successfully completing a project or delivering exceptional results.

 

Host:
Building strong client relationships and asking for referrals are powerful strategies. How do you ensure that your clients are motivated and incentivized to refer your services?

 

Guest:
Motivating clients to refer our services is an essential aspect of our referral strategy. We express our gratitude for referrals by acknowledging and appreciating our clients’ efforts. This can be as simple as sending a handwritten thank-you note or a small token of appreciation.

In some cases, we offer referral incentives, such as discounts on future services or referral bonuses. These incentives provide additional motivation for clients to refer us and reward them for their loyalty and advocacy. However, it’s important to strike a balance between incentives and maintaining the genuine, organic nature of referrals.

 

Host:
Acknowledging clients’ efforts and providing incentives can indeed strengthen the referral process. Have you implemented any specific systems or processes to track and manage your referral program effectively?

 

Guest:
Yes, implementing a structured referral program has been crucial to managing and tracking our referral activities. We have developed a referral tracking system that allows us to monitor and measure the effectiveness of our referral efforts. This system helps us identify which clients are referring the most business and enables us to express our appreciation accordingly.

Moreover, we maintain open lines of communication with our referral sources. We keep them updated on the progress of the referred clients and provide them with feedback on how their referrals have benefited our firm. This transparent approach fosters trust and encourages continued referrals.

 

Host:
A structured referral program and open communication certainly contribute to the success of your referral strategy. Have you encountered any challenges or obstacles in implementing and leveraging referrals for business growth?

 

Guest:
One challenge we faced was ensuring that our clients fully understood the range of services we offer. Sometimes, clients may not be aware of the breadth of our capabilities, and as a result, they may not refer us to potential clients who could benefit from our expertise. To overcome this, we regularly educate our clients about our service offerings, sharing case studies and success stories to showcase the value we provide.

Another challenge is maintaining consistency in the quality of service. As our client base expands through referrals, it’s essential to ensure that each client receives the same level of exceptional service. We address this challenge by investing in training and professional development for our team members, ensuring they are equipped to consistently deliver high-quality solutions.

 

Host:
Thank you.