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Don’t dismiss a “hack” as just a clever way to do something more efficiently. Here are four hacks that I know will deliver referrals.
Cell phone favorites
The average person knows 600 people. And those connections are being carried in your pocket or purse every day. You naturally communicate with many of the same people over and over. Some of you may have identified those people as “favorites” in your phone. They are your most trusted people. These people care about you and vice versa. Your favorites often get past your do-not-disturb settings. Your relationships with favorites are stronger than average, and they are willing to help you in a moment’s notice.
If you’re looking to gain a few referrals quickly, turn to your favorites. Take a favorite someone out to lunch and ask for their help. My bet is they’ll be very willing to do whatever they can.
LinkedIn headlines
For those of you who are on LinkedIn, this one’s for you. Aside from your name, there’s one thing on LinkedIn that follows you everywhere, no matter if you post something, leave a comment, or invite a new connection. It’s your headline.
What’s that? If you look under your name, the first thing you’ll notice is your headline. I’ve observed that most advisors don’t leverage that headline nearly enough. Look at your headline right now. What do people learn about you by reading it? If you’re like most advisors, they learn that you’re an advisor/planner/wealth manager/etc. with ABC firm. From the marketing and referral perspective, so what? You are just like every other advisor, nothing special.
Why not stand out and capitalize on something that’s free and follows you everywhere on LinkedIn? Tell people who you serve and how you’re different. My client, “Michael,” has fully leveraged his headline by saying “Gen X you're crying for help. I can hear you. You're stressed out. Look no further. I can help get your retirement on track and avoid overpaying for your child's education. Schedule a virtual chat to learn more.” This headline teaches people who he serves (Gen X), what their struggles are, how he can help and that his practice is virtual. BAM! What a great way to attract referrals and meet new COIs without much effort.
Registration tables
Have you ever been to a networking event where there is a registration table? Sometimes those registration tables have name tags, agendas, and most importantly, people behind the table who know those who will be attending. Here’s how you can best leverage the registration table.
Talk to the people behind the table and show genuine interest in the event and their role to support the event. Tell them you’re there to meet a specific person (someone you know is planning to be there) and ask for their help in introducing you to that person when they show up. All they really need to say is, “Hey John, this is Sara. She was hoping to meet you today.”
If you tend to be a little shy, scout the name tags on the table and identify one person you would like to meet. Hang out near the table until you see that person pick up their name tag. Observe where that person chooses to sit and make your way to sit beside them or at the very least at the same table. Strike up a conversation when the time is right and, if appropriate, ask if they would like to continue the conversation over lunch at another time. If you practice strategic networking, you’ll get better results.
Dinner parties
I’m not talking about the steak dinners you host to attract prospects while giving a presentation on social security. This is much more personal, intimate and strategic (there’s that word again!). I have a client who loves to cook and hosts small, monthly dinners for people he would like to get to know better. He might invite a COI and their partner, a new client, someone from a board he belongs to, someone from the golf club… you get the idea. He makes a point to spend quality time with people to break bread and get to know them and let them get to know him.
Take this one step further.
Imagine inviting a few people to dinner (no more than six). When choosing who to invite, include people you want to know better but also those you believe they would enjoy meeting as well. For example, invite your CPA and his wife – who are planning a trip to Switzerland – as well as a couple from your pickle ball team – who just returned from a vacation to Switzerland. The quality of time you spend together is sure to nurture your relationships and bring enormous value, which is one of the cornerstones of earning more referrals.
A lot of advisors have exceptional skills and talents, but few have a strategy when it comes to referrals. Strategy implies intentional actions towards a specific outcome. If you’re hoping to generate more referrals without a strategy, you’ll feel the same way you do today a year from now. All four of these hacks are waiting for you.
Michelle R. Donovan and Patty Kreamer own Productivity Uncorked LLC where Michelle (Referral Coach) and Patty Kreamer (Productivity Coach) offer a one-two punch to help financial advisors get more done in their day and be more profitable. If you’re tired of feeling unproductive and overwhelmed, email Michelle at [email protected].
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