Tracking referrals has a couple of key benefits:
1. You can follow up with that referral in a timely manner - no need to let it go cold. As soon as you get the referral and add it in to the system, you can schedule a call to get in touch. Make it that day or the next one: it's best to move fast.
2. You can send the person who made the referral a note or gift to show your appreciation. Saying thank you will go a long way to encouraging future referrals.