Five keys to get referrals 

All too often, advisors come out of the blue with a request for referrals that floors many of their clients. The clients are startled, confused and put on the spot, and the advisors are left with too few contacts or a handful of random names with little chance of real follow-up. How does an advisor avoid this costly mistake?

1. Let your client know you’ll be asking for referrals at the end of your meeting.
2. Be specific about your request. Have a few detailed questions prepared in case they don’t understand what you’re looking for.
3. Have reasons ready why they should give you referrals. Because they are putting their image and reputation on the line with each name they give, they must understand why it is in their best interest to help you.
4. Set up standards against which your performance can be measured.
5. Avoid the dead question. Rather than suggesting referrals, ask for them.

• • 3/9/2010 7:37:16 AM
  • Carol Pearson
  • Referrals
  • It's the HOW that is the issue, the artful wording so that this is not an automatic turnoff. Apologies for being dense: Just HOW is it that it is in their best interest? Anything other than assisting their current advisor to stay in the business? Quid pro quo in networking, I understand. Referrals happen when a relationship is built; there is push back when the client doesn't feel there is enough of a relationship, in my opinion, so how does one artfully justify asking them to cooperate in this process?
• • 3/9/2010 8:20:49 AM
  • Michael W. Hozey
  • detailed questions?
  • What type of detailed questions have shown the best track record? Also, reasons why? Can you elaborate? Thanks.
• • 3/9/2010 4:39:37 PM
  • Luke Ramirez
  • referrals
  • Know what kind of orginizations or groups your client is in,re: church, bowling leagues etc.(you can even see what interests them by the pictures on their walls) When the client is stuggling to think of peoples names to give to you, help them by saying "would you rather I contact memebers of your family or folks in your church group?" Ther is no right or wrong way to ask for referrals, evry client responds differently, but the key is TO ASK!
• • 3/17/2010 10:57:50 AM
  • Bruce Anesi
  • Referral Skills
  • The best suggestion I can offer on the "art" of asking for referrals is to pick up a copy of Bill Cates' books. He has two of them that are excellent regarding the "how to" and "when to" ask for referrals. Those books are "Get More Referrals...NOW" and "Don't Keep Me a Secret." You can also check out his website at www.referralcoach.com and sign up for his weekly e-mail, The Referral Minute. The biggest keys to referral success are to make the requests at the proper time, with conversational language and with an "exit strategy" if your referral source isn't inclined to offer any names. Bill's books cover all of these topics...and more. And no, I don't work for Bill's company. I'm an advisor who has found his techniques useful and effective.
• • 5/13/2010 4:37:08 PM
  • David Lometti
  • Asking for referrals
  • Sounnds to needy, better way of doing it

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