The Referral Secret of the # 1 Financial Advisor

[SoCalBroker]

Nope - its not an eBook - sorry to disappoint ...

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The Referral Marketing Newsletter
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From: Steve Aylor

To: Your First Name Here

Subject: The Referral Secret of the # 1 Financial Advisor

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The other day as I was organizing my insurance agency's
lobby, the cover of one magazine sitting on the table
caught my eye.

The magazine is called, "Senior Market Advisor" and
it's "the" news source for financial advisors who
deal with wealth management of senior adults.

What caught my was the big bold headline which read...

"Craig Randall is the 2007 Advisor of the Year!"


Here's an actual snapshot of the cover of the magazine.

http://www.TheReferralNewsletter.com/a/mag.jpg
(copy and paste the link into your browser)


I'm always fascinated with high achievers, so I picked
up the magazine to discover the secret to Craig Randall's
mega success.

It was a great article, but what impressed me the most
was Craig Randall's answer to the question...

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"How Do You Generate Referrals?"
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His response was the following...

"Once you build your client base up to a
large number, then the referrals start
coming in.

We get referrals by not asking for them,
but by .....



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[xosephchu]

Once you have about 300 to 400 clients and referrals will start coming in.

 

[Guest]

Here's an actual snapshot of the cover of the magazine.

http://www.TheReferralNewsletter.com/a/mag.jpg
(copy and paste the link into your browser)

Why would anyone want to see the picture of the magazine when you just posted it?

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Referral Marketing Newsletter

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And after you sign up, how much spam to you think Steve is going send you? A little? A lot?

And whom is he going to sell your email address to? He says he won't but after a sales pitch like the above post (to say nothing about the website) do you believe him? I don't, but you make your own decision.

Folks, a simple suggestion: If you have good info to share... then share. But if your ultimate goal is to sell us something, put it in the "Offers" forum. Show us a little respect and a little courtesy. While I am probably the exception, most of us are not as stupid as you think.

 

[Paradigm]

Your referrals will be in direct proportion to the number of clients you have and the level of client service you provide them.

This is nothing more than what Ken Blanchard said in Raving Fans.

Treat your clients so well that you rise above all other advisors. Simple as that.

Most people wont even ask for referrals so just by asking you are ahead of the game.

 

[insuranceexec]

Your referrals will be in direct proportion to the number of clients you have and the level of client service you provide them.

This is nothing more than what Ken Blanchard said in Raving Fans.

Treat your clients so well that you rise ablove all other advisors. Simple as that.

Most people wont even ask for referrals so just by asking you are ahead of the game.

I agree. One final thought about referral gathering is that they are EARNED. They are earned by providing a valuable servcie to your client/customer.

 

[SoCalBroker]

Your referrals will be in direct proportion to the number of clients you have and the level of client service you provide them.

Respectfully, Im not sure the empirical data would support that - industry wide. Know a LOT of agents, who have a LOT of clients who work really hard at great customer service. Their referrals are NO WAY in Direct Proportion to the efforts and energy spent on cust service & the sheer numbers of clients. There is more to a successful referral formula than that - else David Frey, Bob Berg, Bill Cates, Tom Hopkins, Ken Blanchard etc .. would likely NOT have millionairre incomes from speaking about it.

This is nothing more than what Ken Blanchard said in Raving Fans.

Only read snippets of that work .. Im sure its great. Im not informed enough on his methodology to dispute that comment.

Treat your clients so well that you rise ablove all other advisors. Simple as that.

Will concur on this point ... but alas its just not so simple really.

Most people wont even ask for referrals so just by asking you are ahead of the game.

The key there is HOW / WHEN you ask. And you'll note, the guy is quoted above by saying their referrals started happening when they STOPPED asking. That was the interesting aspect.

Thanks for posting.

 

[Paradigm]

There is no mystery here... there are no tricks... there is just hard and smart work.

The reality is that the vast majority of the speakers and programs out there just confirm what you already know. There is nothing earth shattering in the work of Tom Hopkins or Ken Blanchard. While these programs are good to go to as any worthwhile educational endeavor is admirable these programs will not make you wealthy.

 

[Guest]

There is nothing earth shattering in the work of Tom Hopkins or Ken Blanchard. While these programs are good to go to as any worthwhile educational endeavor is admirable these programs will not make you wealthy.

It will make THEM wealthy. Steve is just looking for the same. I can't blame him. No harm in doing that... I just would like him to keep his "pitch" in the "offers" section. I don't think that is too much to ask... of anyone selling us something... be it a GA, IMO, sales trainer, or "system" vendor.

That is my view. YMMV. Different opinions accepted (and encouraged.)

 

[arnguy]

There is no mystery here... there are no tricks... there is just hard and smart work.

The reality is that the vast majority of the speakers and programs out there just confirm what you already know. There is nothing earth shattering in the work of Tom Hopkins or Ken Blanchard. While these programs are good to go to as any worthwhile educational endeavor is admirable these programs will not make you wealthy.

Very true----I concur.

 

[SoCalBroker]

There is no mystery here... there are no tricks... there is just hard and smart work.

No Mystery ... unless you've never seen a strategy or a plan. So you are saying effective and successful referral methods and strategies just appear to most agents in their dreams, and one day they wake up and people just start referring others to them?

Successful referral strategies dont produce results by accident. I believe you need an action plan and a pro-active agenda ... a SYSTEM if you will. The one that will be effective for YOU is the one you will feel comfortable .... actually USING.... daily.

A lot of SMART agents work both hard and smart and dont develop the number of referrals they deserve or would like.

There most definitely are tricks, tactics and strategies that are more effective than others. Passive referral methods likely wont produce enough new leads or introductions to satisfy most agents income needs month in and month out.

Not sure what a good referral is worth to your business ... but an "average" referral to my business is a $5k annual premium at an average comm % of 12.5 and a 5-7 renewal cycle or lifetime value.

So the math goes like this:

$5k x 12.5% = $625

$625 x 5 years = $3,125.00

So for me .. if I can create a systematic approach or invest in putting something in place that could increase my # of - just average - referrals by say ... 20 per year ... thats worth about $62,500 to me over the next 5 years. Thats just one year of extra referrals ... what if you increased your referrability by that same 20 extra referrals for the next 5 years, AND the referrals you rec'd were slightly ABOVE AVG?

Now I think we're talking about REAL $$$.

What would that [ 20 extra referrals per yr ] be worth to your business?

For me ... a few hundred is beyond worth it ... I do it monthly now.

If you're truly generaing ALL The Referrals You Can Handle - congrats - excellent job!!!

To your success,

Steve