If your products and services are seen as too expensive, then you end up slightly mitigating the impact of the four core factors. For example, if your service is seen as being too expensive, you are seen as less caring and even less competent.
Limitations Of Direct Referrals
There are some very pronounced limitations when it comes to direct referrals. For example, very few of the self-made super-rich share aspects of their lives with each other, including their financial lives. I've found them to be very secretive about much of their worlds. They're also not inclined to recommend their "prized professionals" to others.
What can be incredibly useful is to identify the relationships of select clients. A sociogram, for example, can be a very effective tool in mapping out a client's or a friend's array of relationships. If a path in the sociogram leads to one of the super-rich or any high-quality prospect, the next step is to develop an individualized marketing plan to reach that individual.
In my next column, I'll discuss referrals from influencers.