11. Use Technology To Make A Good First Impression
“The use of technology is becoming an essential part of the client referral process. We find that our prospects who come from existing clients look us up online and like what they see. Because we did some rebranding work a few years ago, we make it clear who we work with and what we do for them. For that reason, they pretty much come in ready to hire us when we do get to meet them, as they have researched us online.
To help make a great first impression for folks that are out of town or just cannot make it to our office, we use video conferencing. We have found this to be more effective than just having a normal phone call. We are confident this technique helps improve our odds of bringing on new clients.”
Ann Pendley, director of business development at Payne Wealth Partners
Although this article is focusing on client referrals, do not forget centers of influence as a great way to get referrals. Here are two bonus tips.
Bonus #1: Have An Extended Team
“We have had much success getting referrals from our COIs (centers of influence). We identify accountants, attorneys, bankers and TPAs that we want to have deep relationships with. We then educate them on our value add, such as planning and investment management. We have four to five face-to-face meetings with a COI in a year’s timeframe. Our long-term planning around these relationships has reaped countless referrals to our firm.”
Jim Betzig, COO of Beirne Wealth Consulting
Bonus #2: Explain Who Is A Fit For What You Do
“COI's are just people. They are going to refer business to people they a.) know, b.) like, c.) trust to be honest, competent, and d.) who they think will serve their own clients well. That therefore argues that you first have to get to know them and develop a relationship with them. They need to understand what you do and how your approach may or may not be different from the next advisor. They also need to know your strengths as an advisor, so they can figure out which clients to send you, distinguishing by both personality match and skills match. Your job in marketing to them is to help highlight those things that would make you right for the few ‘right’ clients of that COI.
"I think it is important to give them a hook, something to remember you by. It will most often be the kinds of clients you specialize in and how you serve those particular clients in special ways. Trying to be ‘all things to all people’ won't give them anything to go on.”
Norman Boone, founder and president of Mosaic Financial Partners Inc.
Hope these tips help strengthen your own referrals strategy!
Mike Byrnes is a national speaker and owner of Byrnes Consulting LLC. His firm provides consulting services to help advisors become even more successful. Need help with business planning, marketing strategy, business development, client service and management effectiveness? Read more at ByrnesConsulting.com and follow @ByrnesConsultin.