Don’t Ask for Referrals. Ask for Advice
I have a suggestion for those Advisors who have a difficult time asking their clients for referrals. Ask them for their advice and/or help instead.
Listen to this audio episode or read the transcript below to learn how to do that.
Explain to your clients that you like doing business with people just like them. You feel you could possibly do a better job of marketing yourself and you would like some advice.
“I love doing business with people just like you. If you were me, how would you go about marketing yourself to people just like you?”
The client may very well respond by saying you ought to see so-and-so, who could use some sound financial advice. Most people are willing to give advice, especially when that advice can help a friend. You certainly would be willing to help if the right person asked. Your friends and clients are no different. The gains to be had by helping outnumber the punishments. People may help out of self-interest, but they help nonetheless.
When you ask, give your clients a reason for helping.
You are not entitled to introductions, so you need to tell people why it’s a good idea to give you introductions. In addition to telling them why helping you would be a good idea, tell them how to help.
This is precisely why you need to create an Ideal Client Profile.
You’ve already told your clients you want to meet people like them. Now draw a word picture of that ideal person. Also, before you ask, make sure the person you are asking likes you and trusts you. Will he or she be proud to introduce you to the folks in their inner circle?
Carry yourself in a positive way. People want to help successful people. They prefer not to help someone who appears to be heading down the drain. As well, get over any feeling you might have that asking for help is a sign of weakness. To not feel that we all need help is unrealistic. Don’t fear getting rejected. Believe that you are worth helping.
You are in the advice business. You give your advice all day long. You, of all people, know that everyone needs advice at some point. You provide a valuable service when you impart your advice. Well, it cuts both ways.