getting a steady flow of profitable referrals
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Getting a Steady Flow of Profitable Referrals
Sponsored by
Synergy Financial & Consulting Group/Business Owner Wealth
Strategiesand
Solutions for Financial Advisors
Mark Hollingsworth Stan Mann
Referrals Are Great!
• No more cold calling!• Your prospects are pre-
sold and ready to engage
• Your close ratio goes up.• You have more time to
do what you truly enjoy.
A steady flow of profitable referrals means…
Today we'll cover how to get a STEADY flow
of profitable referrals
Bonus for Attending14 research questions you can use to… • Determine the most compelling messages to attract ideal clients• Learn exactly what solutions, services and products prospects are eager to buy • and much more
This webinar is for you if you’re a financial advisor and want . . .
• A steady flow of referrals• More profitable referrals• Higher fees and commissions• To market less and do more of what
you truly enjoy
And if…
• You want to make a difference, but are frustrated because you're not able to help enough people.
• Your plate is too full• You're spending too much time
hunting for new clients..
• The surest way to get clients to refer to you• How to position yourself to be the logical choice • The four best times to “ask” for referrals
You’ll learn ...
• How to maximize the quantity and quality of referrals
• Exactly what to say to get referrals without even having to ask
• How to educate referral sources
And I promise to also show you how you can get more information about getting a steady flow of referrals month after month
Ask or don’t ask?
The Referral Conundrum
Financial advisors are split down the middle
Some say ask
Some say don’t ask
• You have to be referable
But Everyone Agrees
The Better Question
How will you make yourself referrable to your clients?
Clients made referrals when…
A friend described a financial need = 57%A friend asked for a recommendation = 41%
Only 2% make a referral when asked
Your client has to think of you when someone she knows needs your services.
Getting a steady stream of referrals is all about …
• Building a strong partnership with your clients from the get go.
• Getting them engaged
An effective referral systembegins with…
• Define your ideal client
• Craft an ideal client profile
Your ideal client profile
Ideal Client Profile
• The special characteristics that make him part of your target market
• Their values and motivations, problems, issues and aspirations
• Groups they belong to*
• Define your ideal clients age, occupation or retirement status, investable assets
Target a unique audience to build loyalty, longevity and referrals
Making Yourself Highly Referable
The Most Powerful Way to Make Yourself Highly Referable
Be known as a specialist in two areas
• Your financial expertise
• Who you serve} a niche
“You’ll lose prospects”
• Position yourself as the expert• Create a compelling value proposition• Be top of mind• Strongly bond and engage your clients
Makes You Highly Referable
Having a Niche enables you to...
Don’t be a mind reader • Research your target market• Start with your present clients – or• Pick a market you're attracted to
Create Your Key
Questions
• Craft about a dozen questions you want to ask. • Write them down so you ask everybody the same ones
Set the Stage To Get Higher Quality Referrals
• Show your Ideal Client Profile
• Show those special services you provide
• How you add value
A Script for Asking
• "I need your help. If you can help me build my business, I can spend more time helping you. Who do you know that could benefit from my services?
• "Here's a profile of the type of person I work with best."
A Script for Asking without Asking
• "I don't need any more clients, but as a service to you, I'm willing to help your family, friends, and colleagues with their financial questions. Does anyone come to mind that needs my help?“
• You're not asking for a favor. You're offering them a favor.
Advantages
• You do not come across as needy.
• You're not placing any obligation upon your clients.
• It's much easier to offer a favor than ask for one.
• You'll feel comfortable and do it more often.
• You’re conditioning him to refer in the future.
Or You Don't Even Have To Ask at All.Whenever it's appropriate...
• Show your Ideal Client Profile• Show those special services you
provide • How you add value • And provide WOW service
When you get a referral, reinforce to the max
• Keep them current and in the loop• Show them appreciation• Reward them as much as you're allowed
Key Referral Sources
• Current clients• Prospects• Affiliated Professionals• Your advisory board
1. Meet with clients to review their finances
2. Start with a new client.3. Know they are pleased with
your services4. Are doing research interviews
The 4 Best Times to “Ask” for Referrals are when you...
Overcome Your Reluctance to “Ask”• Be highly referrable• Choose an approach
and script that feels good inside
• Change your mindset from “Can you help me?” to “Can I help you?”
Action Steps
• Create your ideal client profile• Specialize in a niche• Conduct your market research• Clearly communicate your...– Value proposition– Ideal client profile– Special expertise
You Can Do It
• Put a referral system in place• Get a steady flow of profitable clients
Special OfferTo learn more and become a master
referral-makerTODAY you can apply for my “Referral
Strategy Session" -- my treat!
“Referral Strategy Session”
• Create a crystal clear vision and goal for your practice in 2013
• Identify hidden roadblocks that will derail your efforts to get a steady flow of profitable clients.
• Craft an action plan to get a steady flow of profitable clients
• Get yourself into action immediately in the new year
During this 45-minute session I'll guide you to:
First 5 to apply get a BONUS: Your own computerized
personality profile. Find out where you fit on this wheel.
You’ll find it a powerful tool for influencing others.
Value $180
To be considered for one of these 5 spots
• You need to apply and qualify• Request your application now. Go to
www.solutions4advisors.com/apply
www.StanMann.com
Bonus for Attending
14 research questions to… • Determine the most compelling messages to attract ideal clients• Learn exactly what solutions, services and products prospects are eager to buy • and much more www.solutions4advisors.com/key
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