Systems to Accelerate Referrals

February 22, 2021 by

Advisor Wealth Mastery Team

What “Systems” are you using to accelerate your referrals?

It’s always interesting when talking with advisors.

There’s a huge number with frankly limited interest in nor much going on when it comes to marketing their practice. There’s not much to say about that category other than a quick reminder of a Dan Kennedy quote: “Once someone goes into business for themselves they are now primarily in the business of marketing their product or service, that’s their number one job.”

I have MANY conversations that go something like this…..

I ask, what is your number one challenge in hitting your objectives for your practice?

They answer, I need more new clients. I don’t get enough prospects and therefore not enough new clients.

I ask, what is your marketing plan – what are you doing consistently to develop new clients?

They answer, I get a few referrals.

Well, okay.

Let’s start with, what “Referral Systems” are you implementing regularly?

They answer…… blank stare …..long pause….. “Referral Systems?”

Yes, for instance certainly it’s worthwhile to work on your script, come to your meetings prepared and ASK for referrals.

However, we also know that a book, or better yet a series of small books on specific relevant topics that you give to all of your clients as “pass-along” gifts to family and friends works great to generate referrals.

We also know that generally your clients are horrible at “selling” your services. They really don’t know how to describe what you do in an appealing way. Certainly they aren’t going to “pitch your services” to their friends and then pick up the phone, dial your office, and put them on the phone with you.

However, many of them would be delighted to invite their friends along to any number of different types of events.

A client appreciation party. A webinar on a specific topic of interest. There are many, many different types of events that they’d be happy to, and successfully able to invite their friends to attend.

We also know that your clients really DON’T KNOW the range of problems you can solve and services that you provide. You must educate them for them about your range of abilities, about the various problems that you can solve, about the various situations where you can be helpful. You must educate them about these various situations so that they will know when their friends or family should seek you out or for that matter the range of situations where you can help them.

I might also add, as much as we’d like to believe it’s true on a day by day, week by week basis you really aren’t on your client’s mind. Many situations and conversations may come up where you would be very helpful, however it’s been along time since that last meeting and you just don’t spring to mind. There are many things that can be done to remain “top of mind,” most of which don’t require you meeting with them one on one. Typically we’ll build regular “touches” that include email (more or less daily,) personal (or personal looking) note cards, invitations to various live events, and much more. Perhaps a monthly newsletter with cards for various events in their life, and holiday’s, and more.

Well, I could go on and one, just on this one topic but, more to follow.

I’d love to chat with you about your “Marketing Plan” and various “Systems in Place” to give you and objective opinion and likely some small tweaks that would multiply your results. Call or text my team at 303-808-8719 to schedule a free practice evaluation.

Stephen Oliver
Wealth Mastery

  • Free gifts package

    Complete form to get Instant Access to the free training course, books, and 1 on 1 coaching session.

  • Name(Required)

  • Recent Posts

  • Categories

  • Tag/Topics