Referrals are key to any financial advisory business. Whether it is through a friend or a happy customer, getting introduced to a potential client is the most efficient way to grow your client base.
Here are a few ideas that can help you grow your referral network.
- Identify top referrers: You will most likely know people who like to stay informed about your business – its progress, any new services that you have introduced, and so on. They may be or may not be your clients, but understand your business very well and give you referrals based on that. Always keep in touch with them and keep them updated.
- Create real life client studies: You can show the results you can achieve for clients through client studies. Share stories of how you were able to deliver impressive results to clients and create a buzz so that investors talk about you. By quoting these cases, without using actual names and divulging other personal information, you can demonstrate what you are capable of delivering and build credibility. Make sure case studies include the following three aspects:
- What was the financial situation of the client?
- What necessary action you took to help him or her?
- What was the happy ending for the client?
- Interview clients: Such interviews will enhance your business profile and get people to recommend you to others. You may do these interviews for your website, and even upload them on YouTube.
- Do the work for them: When you have met or exceeded your client’s expectations, you have created the opportunity for them to refer you to others. Check who he or she is connected to on LinkedIn, or other social media platforms, or any other association they may be part of; zero in on the names of individuals you would like to be introduced to and ask your client to recommend you to them.
- Make your presence felt among your clients: Increase your visibility by approaching your target audience indirectly. You can approach them in a differentiated and targeted manner. If you look at the HNI space, there are pockets of wealthy people depending on where they live, where they work or what they do. You can create your brand presence in these pockets. For instance, many HNIs in South Mumbai are associated with premium clubs. You can do a lot of branding activities in such clubs. This way you will get noticed.
