Referrals. They are arguably the fastest way to grow your business. But it can also be one of the most awkward parts of your relationship. Most of us can think of any number of things we’d rather do than ask our clients for a list of names of friends and family that might benefit from your services.
But referrals make sense. After all, the easiest way to grow your business is by finding more clients that have the same characteristics as your current A-list clients. And who knows people with those same characteristics? Your A-list clients of course.
So now you’re walking the fine line of trying not to put pressure on your best clients while still asking them for referrals. It’s tricky.
So, what can you do to make yourself more referable? Let’s look at advice from two industry experts. I’ve talked before about the Go-Giver series by Bob Burg and John David Mann, and specifically about their concept of the Law of Influence. In case you missed it, the Law of Influence states that your influence is dictated by how abundantly you put the other person’s interest first. In other words, you focus on your client’s interests, not your own. Treat everyone like the influential critic you want to impress by anticipating their needs. You need to think of everyone is an ambassador to your practice. Everyone you meet on the street could be a possible referral partner. This includes your A-level clients’ centers of influence. It’s important to understand where they are and what their challenges are today.
The second expert I want to recommend is Ash’s National Director of Practice Management, Paul Kingsman. Paul is the creator of the popular Say It So it Sticks series. He has done a wonderful job putting together some talking points about how to ask for referrals, in a nonthreatening way. Start by making sure the client is comfortable, because it’s pretty likely they are just as uncomfortable as you are when it comes to having a conversation about referrals. And then you want to be upfront about your services. You and any new client are trying each other on for size. You might be able to help them, but it might not be a good fit. You’re reaching out to answer any questions they might have, whether or not they become a client. With this approach, you’re offering value to your existing clients while gaining introductions to your very best new clients.
Earning new clients and strengthening your relationships is exactly what every advisor needs to grow into a High Performing Practice. And now you have the tools to do just that.
Gain access to new A-list clients by asking for referrals in a nonthreatening manner. You’ll provide value to both existing and potential clients.
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