By Antoinette Rodriguez, MBA
- Be consistent in your service model. The more consistent you are, the more a referrer will trust you will provide that same level of care to their friend, colleague or family member.
- Respond quickly to referrals. There is nothing more frustrating to a referral source than your not treating their contact with urgency and respect.
- Educate clients on what you provide and do. Have you ever had that sinking feeling when you heard that a client referred a big ticket item to another Advisor because they simply didn't know (or remember) that you provided that very service? Whose fault is that? Yours, of course!
- Make sure your front line staff is happy. There is nothing worse than getting a surly or harried attitude on the phone as a first impression to your practice. You set the tone for your staff and thereafter, they set the tone for all client and prospect interaction. It's your job to take and monitor the temperature of your practice.
- Tell memorable stories. Referral sources are much more likely to repeat a visceral story than a list of services you provide. The more anecdotes and color you can use when describing or showing what you do for clients, the easier it will be to get business sent your way.
- Provide a feedback loop to the referral source. Let referrers know you contacted the prospect ASAP. Never leave their contact hanging if you cannot help them. If their asset size doesn't meet your minimum, this might be a good time to delicately educate your referral source.
- Be grateful for any/all referrals you receive. By the law of attraction, you’ll receive more.
Do you need help with your referral strategy? Contact MarFi Advisors to learn more.