E-News

Deserving Referrals

A special interest article for financial planners and advisors.

To get referrals, you must deserve them. It's important to culitvate specific areas of professional expertise, and be sure your clients experience the the benefits. Your attitude should project confidence in the value you offer, and your clients should feel part of an exclusive club that has access to your services.

Making you clients feel that they are part of an exclusive club is how you service your clients. It is what sets you apart. An effective informative website, e-mails, and e-newsletter in combination with personal calls and meetings will strengthen this connection with your clients.

You pride yourself in the rapport or chemistry you establish with the clients. The relationship is nourished by knowing what's important not just in your client's financial affairs but with their family, job, and recreational activities. It's important to document them in writing or in an e-mail note to yourself and then store it in a folder for easy review the next time you contact the client. Your clients will be impressed with the personal touch and build their trust in you. Trust is the key, and it is earned. Trust enables them to confidently refer friends, family and associates to you.

What triggers a referral?

One of the best ways to receive referrals is to position yourself as a qualified resource who can answer a few questions or offer a second opinion. This subtle attitude will give the impression of trust and concern and is only available because the referral is an associate of your client.

Referrals often occur when clients are discussing personal situations with friends and family over the phone, drinks or at the kid's hockey game. This is when having a website can be very important. Your client may not have your card or phone number handy but he may easily remember your website address for the referral to review prior to calling you.

A professional website with valuable information will start to build the referral's faith in your expertise and trust in your opinions. Before you meet, the client will know about how you have serviced his friend, your investment philosophy and the products you represent. This allows you more time to get to know the client's problems and needs. More time to build the trust that will eventualy lead to acquiring them as client.

The 80/20 Rule

With most businesses 20% of the clients will provide 80% of the revenue. Paying extra attention to the 20% or your key clients is an obvious strategy to retrieve quality referrals. Chances are they work and share time with people like themselves.

But can you forget about the other 80% of your clients? Again this is where a website, e-mail and e-newsletter can be effective in servicing their needs and acquiring new referrals. The value of viral e-mail campaigns have been well documented in the press. An e-mail to one client may easily be forwarded to an associate for reveiw because they were discussing the topic just days before. Effective and efficient your message will be promptly read and consider by the referral.

The personal touch, expertise and technology can all play a significant part in growing your business.

No business today is complete without a website. Learn more about our Websites for Investment Advisors.