The number one way to acquire a new client without spending any money is through referrals – asking for them. Hand on your heart, do you actively ask for referrals? It’s silly if you don’t isn’t it?
If referrals work then why doesn’t every Adviser actively ask for them? The 5 most common reasons are:
1. You feel too pushy
2. You don’t know what to say, how to ask?
3. You think it’s way too sales focused
4. You don’t know how to get it to work
5. Fear it will ruin your relationships
Having seen Advisers use this strategy successfully allow me to suggest some ways you can use it to generate more business
1. Use the three C’s – be conservative, confident and consistent
2. Write out what you are actually going to say to your client – how you are going to ask
3. Time when you are going to ask – when they have enjoyed your excellent service
4. Give yourself a goal of asking 3 people every week for a referral – share the goal with someone so you become accountable
5. Position referrals as a privilege
6. Write a referral policy so clients know you take them seriously
At the end of the day know that you are worthy of getting referrals and that you add value to clients. If you practice this one strategy for attracting clients, it wont have cost you any money and you will become excellent at it.
If you’re not asking for referrals someone else is.