Generating referrals is not a ‘set and forget’ exercise as many advisers will have experienced. It does require some forethought and active engagement but where to start can often be the first hurdle to overcome.
I know that gaining more referrals [introductions] is typically on the minds of most financial advisers. Attracting clients through others, whether existing clients, professional referral partners or other people that you know in your life, is the most efficient marketing strategy there is for financial advisers. Why? We know that people aren’t waking up each morning jumping out of bed thinking, “I must get some insurance advice today.” It just doesn’t happen.
However, we do know that if their accountant, family member or even friend talks about the value of personal protection, it can prompt them into making a call or meeting with you.
With that in mind, below are seven proven referral steps that you can take immediately in your business. There is nothing stopping you from taking any of these steps. No compliance excuses, system excuses or budget excuses!