“It’s not your clients job to get you clients!” If you’ve ever read any of my previous blogs or articles then you may have seen that statement, or similar from me in the past. It’s still a statement I stand by today. However gaining introductions (referrals) to your business is, as we know, one of the most effective and popular ways for Financial Advisers to grow their business.
May I ask? Do you:
- Deliver what you promise?
- Deliver when you said you would?
- Deliver value to your clients?
- Deliver a high-class experience to your clients?
Did you answer yes to all of those questions? Great! That means you are referable (not everyone is!). Now we have that out of the way, let me suggest a change of term for you. Let’s shift away from the word referral and change it to introduction, it has a far better ‘ring’ to it.
- Create an alliance with businesses that can also introduce new clients to your business. For what purpose would you invest time and energy into introducing your clients to another business if they never do the same to you?
- Say thank you – I wrote a post about that last week – gained wonderful feedback thank you!
- If a client has not been able to introduce someone to you, think of other ways they can support you, for example, perhaps they can write a testimonial or be happy to be a case study. Not everyone can or will introduce someone but they can ‘like’ your business on FB or share your content too.
- Develop a one page process that you can share with others that demonstrates when someone is introduced to your business there are treated with care – it really helps with what we call referral reluctance.
- Welcome your new clients to your business (community) at the bottom of your newsletter with a thank you to those who introduced them – first names is fine to use.
- Create an ‘invitation to introduce’ culture – makes sure you only get introduced to those you want to work with.
- Be a manic referrer yourself, I am constantly thinking of who knows who and who can help who – what goes around comes around!
- Stay top of mind so that you are tip of tongue – do you have a communications plan in place? People are busy they can’t be expected to remember you if you don’t communicate to them.
- Create relevant content and have the appropriate social media share buttons so it can be shared.
- Treat every client like a ‘member’ as part of your community.
- Support your clients in their social media efforts, ‘like’ and share their content.
- Ask – if you never ask you never get. Research conducted by SRSCC revealed that 80% of clients, who loved their Adviser, didn’t even know the Adviser would like more clients because they never asked! It’s not your client’s job to get you more clients, it’s yours!
If you would like more information about how to leverage your existing referral partners (COI’s) then please feel free to watch the training video “9 Ways to Leverage Your Referral Relationships”.
If you liked this article please feel free to share it on any of your social media platforms, thank you.
At the end of the day, introductions shouldn’t be your only way to grow your business. If you can develop and implement an effective marketing strategy that uses these tips and others, your business will flourish in this competitive market.