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Should you prospect during the COVID-19 pandemic? Of course you should, but you need the right strategy.
In this article series, we'll discuss four campaigns you can run from home with just a few resources. Let's start with a question you may think is obvious. Should you ever ask for referrals?
You say, "Of course. I just don't do it."
I say, "No." Listen to your gut. It's telling you the truth.
Asking for referrals does not work because it generates names, not referrals. Rarely do these names become clients.
Asking for referrals puts clients on the spot and makes them feel uncomfortable.
Advisors hate it and won't do it. If you were doing it all, knock it off.
Instead, I'm going to show you how to promote referrals.
What to Do
I define "promoting referrals" as "gently and persistently reminding your clients that you value and accept their referrals."
Say this: Bob, if someone new joins your Rotary Club, and if they might need a local financial advisor, would you feel comfortable in suggesting they give me a call? I would love to have some more clients just like you.
Not this: Bob, who do you know in your Rotary Club I could call?
There is some magic in this approach. Bob may never call you about a new member of the Rotary Club.
But three weeks later, he may call you to suggest you call one the engineers he has just hired.
When you promote referrals, you are planting seeds. They can spout in surprising places.
