2015 NAFIC Convention 2

Transcription

1 Dan Allison-A Professional Approach to A Professional Approach to Referrals and Prospecting How to Turn Clients and Prospects into Advocates for Your Brand Why did you select this advisor? How does your advisor exceed your expectations? How does your advisor fall short of meeting your expectations? If you are satisfied and trust your advisor, why don t you refer your advisor more frequently? John H. Dan A. Shelly R Bill V. Chip V NAFIC Convention Ensure that clients never leave me for the competition (feedback) Ensure that clients use all of the services available to them (cross sell/educate) Learn how to have a referral relationship with clients where appropriate Why Don t You Refer Your Advisor? Why We Conducted Focus Groups 1 Three Objectives for Relationship Driven Business 1. I ve Never Been Asked 2. I Don t Understand Who My Advisor Wants to Work With 3. I Don t Know How to Explain What They Do 4. I Don t Know How to Make the Introduction 5. I am too private. 6. The risk I take if the relationship does not work out. 7. I haven t had a referable experience. 5 1) They have to value their experience enough that they would refer. -Do you have a method of getting feedback from your best clients? -What do they value about your service? -What can you improve to make their experience referable? -How do they feel about referral? 1

2 2) They have to fully understand your services and all of your products. -Do you have quality clients who don t understand all of the things that you do? -Do they stereo-type you based on one service? -Has your business evolved, or have you made changes to your business, since many of your client relationships incepted? 3) They have to know that your firm is growing and who an ideal client is. -50% of your best clients may be unaware that you are growing. -Can your best clients describe an ideal client? -Have you talked to your best clients about who you would like to bring on as a client? 4) They don t know what to say to make the introduction. -Do you and your clients have a plan for getting in front of their referrals? -Do your clients know what to say to set up a meeting? -Do you even know when they meet people who are quality prospects? 5) You have to know how your clients want to be approached about referrals in a way that is effective, but will never make them uncomfortable or compromise your relationships. 1. Clients have to value your service and products enough to refer. 2. Clients have to know all of your products and services. 3. Clients have to know that you want to grow and who an ideal client would be. 4. Clients have to have a comfortable plan when they meet someone. 5. You have to know how to comfortably approach the topic with each and every client. How to Solve the Problem Conduct annual meetings with your best relationships to accomplish the following: -Update clients on your products/resources -Update clients on your growth objectives and ideal client profile -Get their feedback on their experience and how to make it better than it is today 2015 NAFIC Convention 2

3 Dan Allison-A Professional Approach to Results of Implementing These Strategies More referrals Higher quality referrals Better client retention Better relationships with your best clients Better, more open communication with your top clients Strategy - Interactive Client Surveys A one-to-one, hour-long meeting with your most influential clients to clarify your business model, your growth objectives, and to gain their feedback on their experience, and your business. Objectives of Interactive Client Surveys 1. Ensure best clients are kept abreast of your service offering and resources. 2. Update clients on expansion goals and ideal client profile. 3. Get feedback on the clients experience and how to improve the experience to become more referable. 4. Learn the most effective approach to referrals with each client. Interactive Client Surveys Let Your Best Clients Tell You How to Get Referrals from Them 2015 NAFIC Convention As a Process Conduct one Interactive Client Survey per week with 50 most influential clients and relationships No expense 70 hours of your time per year Step OneOne- Develop Your Objectives List Your Key Objectives Covering Two Areas What do you want to talk about What do you want to learn about 3

4 Example of Key Objectives Ensure my best clients have a clear understanding of our value proposition Ensure my best clients understand our growth objectives and ideal client profile Get feedback from key clients about their experience with our firm Learn how to improve our key clients experience with our firm Get insight into the best way to work with clients to gain more recommendations Step Two-Identify Participants Current Clients- Rule of 100 Current Referral Relationships- Rule of 100 Step Three- Setting the Stage Location -Where to Hold Interactive Client Surveys What Material to Have Available Presentation, Questionnaire, Agenda Step Four- Inviting the Participants Invite by telephone Use scripts in the database Confirming the participants Example Script Step Five-Developing the Structure The Introduction (First 3-5 minutes) Presentation (20-25 minutes) Discussion (20-25 minutes) Questionnaire (10 minutes) Step Six- Appropriate Follow Up Focus on feedback first. Follow up letter-thank you-address specific need Phone call-address specific need 2015 NAFIC Convention 4

5 Results of Implementing Interactive Client Surveys or Focus Groups/Advisory Boards More referrals Higher quality referrals Better client retention Better relationships with your best clients Better, more open communication with you top clients QUESTIONS? 2015 NAFIC Convention 5