Five ways for advisors to get more referrals

Five Ways to Get More Referrals

In a previous blog post, I listed 5 facts about referrals you need to know.  If you haven’t read that yet, go read it now, then come back.  I’ll wait.  


Welcome back!  Now that you know to PROMOTE referrals instead of ask for them, here are 5 easy ways to do so.    

 1.  Promote referrals over the phone and in person using rehearsed “referral conversations”

Whenever you speak with a client, end the conversation by verbally promoting a referral.  Here are a few examples of “referral conversations”:

Express Appreciation: “I want you to know how much I appreciate your business.  In fact, I wish I had a hundred more clients just like you.  So if you ever have a friend or family member that needs help with their finances, don’t hesitate to let me know, okay?  I’d be happy to help in any way I can.” 

Reminder: “Before I forget, I wanted to let you know that I’m currently taking on new clients again.  So if there’s ever anyone you know who has expressed the need for financial advice, please think of me.”

During Market Volatility: “I know market volatility can be a little unsettling, so if you know anyone who is unsure of what’s going on or what to do about it, please let me know.  I’d be happy to speak with them and tell them what I’ve told you.”

2.  Promote referrals in the postscripts of all letters and emails

Here’s one of those surprising-but-true facts every FA should know: the first thing most people see in a letter is the headline or salutation.  The second thing is the postscript.  That’s because people will often quickly skim the message, read the postscript, and then, if they’re still interested, go back and read the entire letter.  That’s why the postscript is prime real estate to promote a referral.  Here are a few suggestions:

P.S.  I’m always on the lookout for more clients just like you.  If there’s anyone you know who could use a second opinion on their investments, I’ve love to hear about them.  

P.S.  Since I love what I do, I’m always ready to do more of it.  If there’s someone you know who could use a second opinion on their investments, please think of me. 

P.S.  Helping people reach their financial goals is the most professionally satisfying thing I do.  So if you ever have a friend or family member who would like help with their goals, let me know.  I’d love to talk to them.  

3.  Post a sign in your office that states, “Your referrals are greatly accepted.” 

Referral marketing is all about building a “referral consciousness” in the minds of your clients.  To do that, you must subtly plant a seed in the back of their minds that you value and accept referrals.  That way, when the situation arises where they can provide a referral, your clients will remember to do so.

Posting a referral sign in a highly visible location in your office is a simple but effective way to do this.

4.  Send a laminated business card to all of your clients, along with 2-3 regular business cards

Whenever you get a new client, send them a letter thanking them for their business.  Include a laminated version of your business card, with written instructions to keep the card so that you can always be reached should the client ever be in an emergency where they need immediate access to their money.  Also, include a few regular business cards for them to keep in their purse or wallet.  You’d be surprised how often this leads to more referrals.  

 5.  Give a “Thank You” gift that encourages more referrals

Clients who provide multiple referrals should be promptly rewarded with a gift.  Some suggestions: movie tickets, gift cards, bottle of wine with custom label on it, or crystal wine glasses.  Include a hand-signed “thank you” letter along with it.  

So there you have it.  There are other ways to promote referrals, of course – many other ways – but these five will help you build a referral consciousness in the minds of your clients.  

The end result?

More referrals!  

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