Podcast Summary: Roadmap to Referrals – Ep #337: Designing Great Referrals

Host: Stacey Brown Randall
Guest: Liz Walton, Owner of Liz Walton Home, Pennsylvania
Release Date: November 26, 2024

Introduction

In Episode 337 of the Roadmap to Referrals podcast, host Stacey Brown Randall delves deep into the art of designing effective referral strategies without resorting to manipulation, incentivization, or direct asking. This episode features an insightful interview with Liz Walton, a VIP client from the “Referrals in a Day” program, who shares her transformative journey in enhancing her interior design business through natural and consistent referrals.

Understanding the Coaching Programs

Before diving into the interview, Stacey outlines the distinctions between her two primary coaching offerings:

1. Building a Referable Business™ (BRB) Coaching Program:

   • Duration: 12 months
   • Structure: Participants engage with video trainings, complete assignments at their own pace, and receive feedback through weekly office hours and one-on-one calls.
   • Ideal For: Solopreneurs and small businesses seeking a flexible, self-paced approach to building their referral strategy.

2. VIP Experience – Referrals in a Day:

   • Duration: Approximately 13-14 months
   • Structure: After a comprehensive five-part assessment, Stacey personally crafts a tailored referral strategy. She conducts an intensive two-day workshop with the client’s team, followed by 12 months of ongoing support through a deployment roadmap and regular check-ins.
   • Ideal For: Businesses looking for a hands-on, done-for-you approach to implementing a robust referral system.

Notable Quote:

"The VIP experience is for those who don’t want to watch videos but want Stacy to build the strategy for them." – Stacey Brown Randall [05:00]

Interview with Liz Walton

Background: Liz Walton has been running her interior design business, Liz Walton Home, for 16 years outside Philadelphia. Her clientele predominantly consists of working professionals and families in the Mainline area, managing high-value projects in multimillion-dollar homes.

Key Discussion Points:

1. The Importance of Referrals:

   • Liz emphasizes that referrals have always been the cornerstone of her best projects. However, prior to working with Stacey, her approach lacked a strategic plan, relying instead on sporadic efforts like gifting and thank-you cards without consistent follow-through.
   • Notable Quote:

     "Referrals were something that we talked a lot about as our best projects were coming from referrals and we needed to get more of them." – Liz Walton [08:54]

2. Implementing a Structured Referral Strategy:

   • Collaborating with Stacey through the VIP Experience, Liz underwent a comprehensive assessment that allowed Stacey to design a customized referral strategy.
   • The program included two intensive days with Stacey and her team, followed by a deployment roadmap to maintain and grow referral activities over the next year.
   • Notable Quote:

     "We had success. So that's that feels amazing." – Liz Walton [15:06]

3. Overcoming Challenges:

   • Liz recounts a period during the summer when referrals slowed down, leading to uncertainty. Stacey advised maintaining consistency and trusting the process, which eventually resulted in a resurgence of referrals.
   • Notable Quote:

     "We saw a windfall of referrals came in. So it does work. And I've told my whole team...we will continue to do forever." – Liz Walton [13:37]

4. Measurable Results:

   • Since collaborating with Stacey, Liz’s business saw a significant revenue increase of $185,000 from referrals within nine months. Additionally, she projected that with upcoming referrals, her annual revenue could surpass the half-million-dollar mark.
   • Notable Quote:

     "We had success... it's a big number, at least for us." – Liz Walton [15:27]
     "That would put us well over half a million." – Liz Walton [23:11]

5. Key Takeaways and Aha Moments:

   • Liz highlights the transformative impact of adopting the right language and cadence in her referral interactions, leading to more authentic and effective engagements.
   • She also realized the importance of meticulous follow-up, such as correctly writing thank-you cards and maintaining consistent communication with referral sources.
   • Notable Quote:

     "We were writing thank you cards wrong... there are multiple spreadsheets and you can actually measure this. That was mind-blowing." – Liz Walton [27:40]

6. Endorsement of the VIP Experience:

   • Liz wholeheartedly recommends Stacey’s VIP program, citing its value and the significant return on investment. She appreciates the balance between structured strategy and maintaining genuine relationships.
   • Notable Quote:

     "I would say it's worth every penny and more. I would do it again in a heartbeat." – Liz Walton [31:02]

Key Insights and Strategies

1. Consistent Process over Sporadic Efforts:

   • Successful referral generation hinges on a structured, ongoing strategy rather than one-off actions. Consistency ensures that referral activities become an integral part of business operations.

2. Quality Over Quantity:

   • Focus on attracting the right referrals that align with your ideal client profile. It’s not about the number of referrals but the suitability and potential value they bring to your business.

3. Building Genuine Relationships:

   • Authentic interactions and genuine relationship-building are paramount. Referrals should emerge naturally from trust and mutual respect, not from forced sales tactics.

4. Systematic Follow-Up:

   • Implementing systems to track and follow up on referrals ensures that opportunities are not lost due to oversight or lack of communication.

5. Adaptability and Patience:

   • Referral strategies may experience ebbs and flows. Patience and adaptability are essential, trusting that consistent efforts will yield results over time.

Conclusion

Episode 337 of Roadmap to Referrals offers a comprehensive exploration of effective referral strategies through the lens of Liz Walton’s successful implementation. Stacey Brown Randall underscores the necessity of a well-structured, consistent approach to referrals, tailored to fit the unique needs of businesses across various industries. Liz’s testimony serves as a powerful testament to the effectiveness of investing in a strategic referral roadmap and the significant impact it can have on business growth and revenue.

For listeners seeking to transform their referral processes, this episode provides actionable insights and an inspiring success story, illustrating that generating referrals naturally and consistently is both achievable and immensely rewarding.

Stay Connected:

• Liz Walton Home Website: lizwaltonhome.com
• Liz Walton Instagram: @lizwaltonhome
• Stacey Brown Randall Show Notes: stacybrownrandall.com/337

Thank you for tuning into the Roadmap to Referrals podcast! Join us next week for another episode designed to help you build a referable business and achieve sustainable growth.