It’s happened to you. The phone rings. The caller says: “I’m a friend of (your client). He said I should call. I have a problem…” You can almost hear the cash register ringing. Referrals might be “super prospects,” but they aren’t clients yet.
(Related: It’s Time to Revisit Those Aged Leads)
If you are overconfident or unprepared, the meeting may end with “Let me think about it.”
Why Are They Super Prospects?
Let’s assume you find a person. They agree to meet with you. They are a prospect. A referral is often a person who finds you. They want to meet. In the first situation, you might be creating a sense of urgency. In the second, they create it. That’s what makes them super.
What’s Working in Your Favor?
Back to that caller who want to meet. What makes them different?
1. Finding a need
- Prospect: You are identifying a need. This may be news to them.
- Referral: They know they have a need. You helped their friend. Your friend said to call.
2. Are they ready to do business?
- Prospect: You might identify a need, They might not have any sense of urgency.
- Referral: They know they have a need. They want to address it, make changes.
3. Level of interest
- Prospect: They may not see insurance as the solution. They need convincing.
- Referral: They know insurance is the solution. They want to learn how and why.
4. Background paperwork
- Prospect: Is financial planning really necessary? Why do you need this information?
- Referral: Walking through the door, statements in hand, you know they are serious.
Make a Good First Impression and Win Them Over
Everyone wants to feel like an important client. Many people consider think their situation is unique. You see it over and over. You ask questions. You let them do the talking. You take notes.
1. Speak simply.
Avoid jargon. They know they have a problem. If your explanation makes sense, they should be onboard;
2. Trial closes.
A string of “yes” answers is rarely followed by a “no.” Examples are: “Does this make sense to you?” “So far, so good?” “Do you see what I mean?”