First: Some Background
People refer for two reasons; 1) to be helpful, and 2) to look good.
A good brand makes your clients and COIs look great.
A compelling advisor brand positions you as different, better and relevant.
With simple marketing your brand will inspire an abundance of referrals.
When you’re easy to refer, referrals happen frequently – without having to ask.
A good brand inspires referrals.
Referrals account for 75-90% of a professional advisor’s revenue.
Mature practices should expect 100 – 400% growth in referrals once they enhance their brand.
SEVEN Expenses a Good Brand Negates
When you have a good financial advisor brand you won’t need to be good at, or spend money on, these 7 things.
- Referral Program
- Referral Coach
- Cold-Calling or Telemarketing
- Sales Coaching on “How to Overcome Objections”
- PR Consultant (although this one wouldn’t hurt)
- Prospecting Coach
- Online or Print Advertising