Learn Financial Advisor Marketing Ideas for More Referrals
Most advisors, be it legal, tax or financial, think of marketing as a strategy and tool to gain COLD new clients who had no idea they existed beforehand and had zero connection or ties to their firm. They think of marketing as a way to reach out to complete strangers, those who would have little to no understanding of this advisory firm.
Their view is true…partly!
What most advisors underestimate is that Marketing Strategies can actually help expedite and increase the number of existing client referrals they can get as well!
We all know that referrals will remain one of the best ways any advisor can grow, so why rely on the old fashioned “Do you have a referral for me” conversation or passive methods to get them?
You can use marketing strategies to make your existing client referrals more systematic and organized!
As a marketing company for financial and legal advisors, we have seen our clients grow significantly during and after working with us by making them more “Referrable.”
How?
Think of your your favorite doctor…one that you trust and love. You know this doctor has spent his or her whole life taking care of people like you. This doctor’s entire focus is on patient health and satisfaction. Website or office decorations? Using an ipad to take notes? Drip campaigns to keep his patients aware of the latest health alerts? Those are jokes to this doctor. To this doctor, it’s all about his/her service and expertise. Science!
You can even see it anytime you walk into his office. The smell of “oldness.” The stacks of folders behind the receptionist, perhaps going back to the 90’s.
But hey, at least he’s doing a fantastic job for you and your health!
Well, as a patient, you are happy. You can’t think of anyone else you would ever switch to.
But from a business perspective, you’re not going to be too excited introducing him to your friends and family members. It’ll require too much trust from their end on your judgement to explain why this doctor’s office refuses to reinvest in his business. You’ll be embarrassed having someone with high expectations walking in to that office, when you know the benchmark in the industry is so much higher these days. You don’t have time to explain, so you’ll just avoid making a referral.
In this video, I discuss how your rate of referrals can increase - and become much more predictable - if you are able to apply more marketing strategies into your practice.
I have also shared 3 key marketing strategies you should be incorporating into your practice immediately to get more referrals.