In our Referral Advantage Program(R), Step #7 deals with how to maximize the connection between your referral source and the new prospect. Unfortunately, too many advisors settle for what we call suggestions. With a suggestion, your referral source (client or center of influence) has given a referral (hopefully more than one), contact information, and some information about your new prospect. But with a suggestion, your referral source makes no effort to communicate with the prospect before you do. Some call this a “referred lead.”
While there is nothing wrong with a referred lead, when trying to reach affluent clients it’s usually not enough. You usually need to get introduced. We teach two levels of introductions.
Level 1 Introduction
A Level 1 introduction is where your client makes some contact with the prospect, to either let them know that you’ll be calling, or to get permission from them for you to call.
This type of introduction is usually the minimum of what it takes to catch the attention of the affluent. Of course, the strength of the relationship between the referral source and the prospect is also a key component here. The stronger the relationship, the easier it will be to gain your new prospects attention.
Level 2 Introduction
A Level 2 introduction is a face-to-face introduction. Nothing can beat the power of being introduced to a new prospect over a lunch, round of golf, or other social setting. In this case, you build rapport (and maybe even a bit of trust) with the new prospect and you earn the right to call them later and ask for an appointment. If you have a client and prospect who play golf, pick up the greens fees and they’ll follow you anywhere. If you want more time with them, play a public course (golf humor).