It’s not just who you know, it’s who your clients know. If you don’t ask your clients to refer you, you miss your most critical business-development activity.
Here’s what you said in SMA’s 2012 Advisor Survey
A: 60.9% said “develop new lead generation techniques.”
Q: How do you currently get new prospects?
A: 90.4 % said referrals!
Q: Would you like to see/read more information on…
A: 61.2% said creative prospecting techniques
The answer to your lead-generation question is right in front of you.
Everyone is a part of your sales team
If you don’t include your current clients in your referral-sales team, you leave money on the table — every single day. If you ask them, they will refer you. But you must ask.
Ask (and answer) the two most important sales-prospecting questions:
- How many client relationships do I have?
- With how many of these clients do I have great relationships? (Criteria for “great”: They return my calls.)
Savvy advisors have at least 100 strong client relationships. If just 20 percent offered you referrals, you’d have 20 amazing new contacts. Once you actively cultivate them, they become part of your “sales team.” Can you see where this leads, and how much business you could generate?