Stacey Brown Randall introduces a straightforward method for monitoring referrals that requires no complex CRM or database system. With just a basic Excel spreadsheet or Google Doc, Stacey recommends four essential columns: date, prospect's name, source, and outcome.

The "source" category encompasses a wide range of channels, from Facebook ads and networking events to specific referral sources' names or even LinkedIn followers. Meanwhile, the "outcome" field serves to indicate whether the prospect converted into a client, or if applicable, the associated revenue.

By implementing this uncomplicated tracking system, business owners gain valuable insights into the most effective referral sources, ultimately streamlining their approach to generating referrals. Tune in now to learn this practical technique and elevate your referral game!

Episode Highlight:

02:24 - Any of the applications for people to work with me, they have to tell me, "How did you hear about Stacey?" It's a standard question that's required. And sometimes they don't know, and so we take, "I don't know." That's fine, but you should be asking those questions through your processes. Or just when you're in that first conversation with a prospect, you could be like, "Hey, by the way, I don't think I know this, but how did you hear about me?" It's a simple question. Most people kind of expect it, but tracking it should be super simple. So, we're talking about four columns in an Excel spreadsheet or a Google spreadsheet. What I'm looking for is the date. I think it's important that you track the date. Now, one of the reasons why I tell my folks to track the date that that prospect entered their world is because you're not going to close every prospect. And we teach a strategy inside our coaching program at the beginning of every year. We remind our coaching clients exactly how you go back to anyone referred to you the year before that didn't become a client and the correct way to follow up.

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