Part 4 of 5 – Getting a Steady Flow of Profitable Referrals
We’ve been talking about how to create a five-star referral system that attracts and enrolls ideal clients.
This blog tells you how to add a fourth star to your referral system.
Why do some clients become advocates who will refer to you? Clients become advocates when they are made to feel invested in building your practice. Some will even become raving fans who talk favorably about you every chance they get.
Giving wow service to your best clients is the start, but only a start. To get them really engaged, you need to solicit their advice. Ask them how you can improve your practice.
It’s a win-win-win.
- You get constructive ideas to improve your practice.
- The clients feel flattered they are part of your team.
- They will help you get a flow of ideal referrals.
You can ask for your client’s advice individually at the end of financial reviews.
You can ask them in groups. Form an advisory board, take them out to lunch and have one of your clients lead the discussion about improving your practice. Or it might be worthwhile to hire a professional facilitator.
If a client brings a wealthy friend to the meeting, you have another ideal prospect.
Be sure and listen to their advice respectfully. When criticized, do not defend yourself. This might be hard for you to do, but if you get defensive, you will ruin everything. What you want to do when criticized is to thank them, tell them they are right, and ask them for specific things you should do to correct the problem.
So this is the fourth strategy: give wow service to your best clients and systematically ask them for their advice to improve your practice. Be sincere. Do your best to implement their suggestions.
When you have put in place this system of making your best clients advocates, give yourself four stars.
The next blog reveals a little-known secret that, if not addressed, will snuff out your chances of getting referrals. You won’t want to miss this.
Be the best you can with Stan the MannP. S. Like this blog? Please pass it along to your advisor friends.Regards,
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