The Art of Being Referrable as a Financial Advisor
More often than not, when we start working with a new client, it’s because something exciting is happening in their business, or in the worst cases, not happening. Maybe they’ve just achieved a new status in production, or they’ve just made a new alliance that has forced them to rethink their marketing strategies. Sometimes, they come to us out of anxiety and desperation because they’ve been losing more prospects than they’re winning, and they need us to help “fix their marketing”. Either way, there is one key principle we try to teach all of our clients, and that is the art of being referrable.
Being referrable is more than just making yourself available to new business and accepting it when it comes your way. It’s making it easy for people to want to refer you. It’s putting yourself in front of the right type of people that need what you offer. It’s positioning yourself as a thought leader in your market and making sure that people know you’re there to stay. All of this is not to say, “stop running that Facebook ad” – this concept is just in addition to those traditional marketing efforts, because oftentimes those traditional ads have to be seen many times before they ever entice a prospect. While there is a lot that goes into being referrable, here are just a couple tips to help you get started.
Let’s start with a bit of a reality check: once someone is referred to you, the next thing they’re going to do is not picking up the phone to call you. Instead, they’re going to vet you and see if you’re someone they may want to work with. With everything being online these days, that’s just modern consumer behavior. Probably the most fundamental element of being referrable is making sure that when someone vets you online, that you’re controlling what they find, it is exactly what you want them to see, and it inspires them to contact you. On your LinkedIn profile, your website, your Facebook business page, and even your directory listings, you need to make sure that the information is all complimentary to you and how you serve clients, and most importantly that the information is correct! For example, if you primarily serve medical professionals, and your website and LinkedIn don’t mention medical professionals at all…that’s a missed opportunity. That doctor vetting you won’t believe you understand his struggles with debt management, and he’ll go somewhere else. Alternatively, if your Google listing shows your old address in Austin, and now you’re working in Round Rock, that will be a ding on your credibility because it implies that you don’t care about your web presence.
The other critical element to being referrable is making sure that you’re adding value to people’s lives and staying top of mind with them. This can be done through interacting with people on social media, attending networking events, and touching base with clients just to say “hi” or to congratulate them on their latest life achievement. By building that kind of social capital with people in your life, next time someone asks, “do you know a good financial advisor?” your name will be at the top of their list. Another way that you can find and build value with new people is through philanthropic involvement. By spending time away from the office focusing on something that is important to you, not only are you building new connections, you’re also adding value to people’s lives and creating a connection point with potential clients.
Should you need assistance with tips and strategies specific to your brand and situation, don’t hesitate to reach out for a consultation!