Referrals can become a lifeline for many businesses; this is especially the case for financial advisors. But it’s not always easy to figure out how to get those referrals, and with the risk of jeopardizing current client relationships many get deterred altogether from initiating the process. So here are some ways you can increase the odds of getting quality client referrals without sabotaging client relationships.
1. Go Above And Beyond With Your Customer Service
There’s nothing better to get your clients talking about you than giving them an excellent customer service experience. People love to talk about good experiences, in fact, “Americans tell an average of 9 people about good experiences”, with that being said, they tell twice as many people if they’ve had a bad experience. For this reason it’s imperative to make sure you are constantly delivering and staying in communication with your clients, making sure they are fully satisfied with their experience so far.
Quick Tip To Improve Customer Service Experience – Just Ask Them
By far the easiest way to improve a customer’s experience is to simply ask them how it is. You’d be surprised to find out how many clients won’t talk about issues because they are either intimidated, or think you just don’t care.
2. Make Clients Feel Special
This simple tip follows a topic we’ve discussed in a previous article; the topic of “reciprocity”. So what is reciprocity? Reciprocity is a psychological behavioral phenomenon discovered by sociologist Phillip Kunz. Essentially Kunz was able to demonstrate a relationship between the age old adage, “do unto others as they will do unto you”; through various experiments Kunz found that people feel a social obligation to reciprocate the same behavior experienced from others.
It’s for this reason that when you are able to go above and beyond for your client, and exceed their expectations; your client will feel much more obligated to somehow return the favor. In many cases this favor results in putting in a good word to people in their inner circle; resulting in organic referrals.
Quick Tip: Send Them Personal Letters
The personal touch is a great way to make clients feel special. Make sure you know your clients birthdays and try to send out a personal client appreciation letter and birthday letters to let them know you care.
3. Host and Co-Host Community Oriented Events And Invite Your Clients
A great way to get introductions without having to ask for them is by orchestrating local community events and inviting your clients to attend. If you’re doing the first two recommended steps, that is, providing excellent customer service, and making your clients feel special. You can start getting your loyal customers to act as brand advocates and brand ambassadors in these scenarios. Whether the events are education driven, giving back, or even supporting a cause, these venues can make for a fantastic non-threatening environment to encourage quality referrals, and get people talking.
Although referrals are an excellent way to grow your business, it is only part of the process of running a successful practice. Here at Resource Solutions, we know just how vital it is for financial professionals to continually expand their new business. Be sure to check out some of our completely turn-key, highly targeted direct mailer marketing programs. We offer everything you could possibly need in marketing to new prospective clients. From our affluent one-on-one appointment setting program to our very effective customized seminar invitations. We even go one step further than most mail houses, offering programs such as our acclaimed complete turn-key Social Security Maximization System and IUL marketing programs. Call one of our experienced Marketing Consultants today at (866)855-3710 to find out more about what sets us apart from all of our competitors!