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4 Strategies for More Referrals & Better Referral Marketing


This exercise can help you, whether you’re a rookie or season veteran by refocusing your efforts to land new clients using your own inner, and likely untapped entrepreneurship, which you control. Here are four specific things you can do in order to improve your chances at attracting new clients by referrals without having to endure the bum rush of dialing for dollars and hearing the word “no” barked at you 200 different ways.

1. Commit yourself to the mantra of U-S-E – “Unique Service Extras.” Or as I say, use “USE.” Focus on the unique (and often) small details in your business. Is their big business in all these little insignificant details? You bet! That’s because prospects shop advisors, and when they shop, they notice little things, like your office décor, business cards, even your conference room. On their own, these small things might not carry much weight. But stack them up together and they could unleash an arsenal called a “Wow” experience. What details should you focus on? There are ten. Check out this report: “10 Minor Details That Attract Major Clients.” {link to: http://www.strategic-impact.com/report.asp?ID=8}

2. Consider teaming with others. Look around your office and you’ll probably see other successful advisors. It’s been said, success leaves clues. Consider approaching an experienced FA in your office about a short-term team relationship. They’ll likely welcome the added help. John Baxter of a regional brokerage firm in Teaneck, NJ did exactly that, working with a top producer in his office. “I learned more in one week than in my first nine months in the business,” he says. “One partner was looking to transition out, so the experience helped us both.” Ideal activities to team up on could include seminars, direct mail, client appreciation functions, radio shows or more. We created such a structure for a coaching client of ours and debuted a Surprise Birthday Party strategy with the rookie and veteran team that created synergies and $25 million in new assets. A veteran advisor in your office might not split commissions or revenues with you 50/50, Baxter says. But anything you can get done together – even if it’s just for the new experiences – is more than you’ll get from an angry housewife you just interrupted with a cold call.

3. Focus on investing in your own personal brand name. Sure fancy brochures, audio business cards and hot new seminar marketing may work. But advisors who have had the real staying power and continue to put the ball in the end zone, despite the bear market, have done so by capitalizing on their reputation and to a large extent, their name credibility. How? From money they invested in education, coaching, teleconferences, books, learning, and ever personal publicity programs years ago. “Every dollar I’ve spent on my name I’ve gotten back 100-fold,” says Nancy Hite, CFP, and 25 year veteran based in Boynton Beach, Flroida. Tapes, books and mailings come and go, Hite says. “But your name is something that’s around a lot longer.” Kudos to Nancy. And since you’re new in the business, it’s even that more critical that you put every free dollar back into something that lasts and that no one can ever take away from you – your reputation.

4. Train yourself to network, help others, and embrace a referral mindset. It goes without saying: You can’t continue to be a cave dweller and expect to prosper in this business. You must network. Heath Shackleford, publicist with Seigenthaler Public Relations in Tennessee, says advisers must go beyond the natural referral opportunities such as CPAs and attorneys. “Work out agreements with other professionals such as doctors dentists, even auto mechanics,” he says. ‘At the very least, you can probably gain permission to leave collateral materials in their waiting rooms.”

Perhaps the biggest mistake as a rookie is simply going about the referral game the wrong way. Key: think about the words to that old song, “Matchmaker, matchmaker…” The key to networking when you’re new is helping people “make the match” – or helping others before you help yourself. If you approach every Chamber, Rotary or Business Leads networking group with the intent that you’re going to help meet people and then match them up with others at the event, you’ll prosper long term. Why? People are human. Even with technology everywhere today, the power of reciprocation is still alive. It’s still a people business. People like to feel important and helped. When you do this, they’ll respond and lead you down a golden path towards referrals.


Submitted by:

Daryl Logullo

Daryl Logullo is the founder of http://www.MaximumReferrals.com/blog

To receive FREE referral strategies, ideas, sample referral letters, tips and referral marketing systems, visit http://www.MaximumReferrals.com/am





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