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

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 then 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.

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Stephen Oliver’s Wealth Mastery was founded in 1999 (previously also known as Extraordinary Marketing.)   Our program is designed for Financial Advisors and similar professionals to teach them effective sales, marketing, and practice management practices.

We provide a combination of mentoring, coaching, peer support and accountability to grow financial practices utilizing a range of focused and effective marketing and sales processes.

For Financial Advisors we provide a free package of support materials that includes two special reports: “10 things that you must do to grow your financial practice,” “Social Media Marketing for Financial Advisors,”  Along with two of Stephen Oliver’s business growth books: “Everything I Wish In Knew When I Was 22,” and, “The Way of the Mile High Maverick” along with several valuable training videos that include “The Bozo Explosion,” and “Key Growth Secrets for Financial Advisors.”    Receive these free gifts at: https://www.AdvisorWealthMastery.com

You may contact us at:  [email protected] or, by phone or text at 1-303-808-8719.   

About Stephen Oliver.   Stephen Oliver graduated from Georgetown University with a degree in International Economics, expecting to go onto a Harvard or Wharton MBA then onward to Wall Street.  Instead he ended up in Denver, an started 6 martial arts schools in 36 months.   He ended up with over 2,500 active students and promoted one of the largest martial arts tournaments in the country along with 100’s of other events.   Very early on professionals ranging from Financial Professionals, commercial realtors, lawyers to, of course other martial arts schools sought him out as a consultant on Marketing, Sales, client relations, and staff development.   He completed his MBA in 1992.  His first book in 1999 was on using the internet to market a small business.   Since then, he’s written a number of books on business management, marketing, personal development, and sales and has worked with 100’s of clients on growing their businesses aggressively and effectively.   He’s taught business seminars all over North America and has shared the stage with speakers ranging from former NYPD commissioner Bernard Kerik to Tony Robbins and Brian Tracy to marketing guru’s such as Dan Kennedy and Jay Abraham.  More at LinkedIn:    https://www.dhirubhai.net/in/stephencoliver/