A new study by the National Association of Certified Valuators and Analysts (NACVA) and Hinge Marketing suggests that a valuation firm’s “visible expertise” is the most important single factor in generating referrals. Visible expertise is developed by conducting activities that promote thought leadership, such as speaking and writing frequently on topics of interest to your target audience. This can raise your industry profile; as more people recognize and trust your expertise, you will receive more referrals.
Other factors that can help trigger more referrals, the study found, include professional and social relationships, reciprocity, attending networking events, directly asking for referrals, social responsibility (charitable contributions), and sponsorships.
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