As many advisors know, getting new clients can become an extremely time-consuming task. The idea of attracting new clientele through word of mouth can become a lucrative component of your onboarding process. So how can advisors attract more word-of-mouth clientele?
Make Deeper More Meaningful Connections With Your Current Clients
First, and most importantly, you need to form some deep connections with your current clients. The only way you can really do this is by getting to know them well and by providing relevant insight and value above their expectations. It’s natural for people to want to talk about how well they have been treated and to compare their service providers with other people in their circle of connections. If you can connect with your clients and show them you care, these circles will organically develop into word of mouth machines for your business.
Distinguish Yourself from the Competition
Part of getting people to talk about you is creating the ability to stand out. The process of differentiation is important, but keep in mind, you don’t want to stand out in a negative way either. Try to think of a unique value proposition that can help customers both remember you and want to talk about you. Maybe it’s a weekly video addressing the market that your clients get to see. Maybe it’s an added complimentary service you provide your clients. The point is to do something different that gets people talking.
Make Use of Testimonials
One important and sometimes overlooked aspect of growing new business is showcasing satisfied clients through testimonials. This low hanging fruit is usually very easy to prop up and can go a long way in the social media age we live in today. People want to see that someone is legitimate and not just selling their services. Testimonials allow you to put a face on your customers and enable other would-be clients to relate and have social proof for becoming clients themselves.
Host and Participate in Local Events
As mentioned in one of our previous article’s (5 Ways Advisors Can Build Their Reputation More Quickly), one essential thing advisors should do to get word of mouth clients is to host and participate in local events. Many advisors already do some form of seminars to get new clients. These kinds of events generate a lot of buzz in the local area and will help you establish your name. Although seminars can sometimes be costly, hosting events in your local community is one of the best ways to get people talking. These events can be on myriad of different retirement/financial planning related topics. Offer free consultations to guests and try to provide value outside of just selling your services.
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