Now that we have been through two years of a pandemic, remote meetings are here to stay. While most clients agree that in person meetings are different (and better) experience, there are good reasons to do advisory board meetings virtually, like when you have participants distributed over a wide geographic area. We might do short...Continue reading
Why have so many advisors moved from commissions to fees? It’s a vastly more profitable model, sure, but only over the long term. The initial income grows slowly but the business that develops is more consistent and more durable. I propose the business case for long term referral marketing is the same. Referral strategies are...Continue reading
Are you making portfolio adjustments in response to changing market conditions? They can help you attract more referrals. Providing clients a timely bit of news can be a reason to talk about you. Studies of referral behavior indicate that the most frequent reason clients provide referrals is because a friend explicitly asked for one. The...Continue reading
It’s time for resolutions and plans. Before looking forward in making commitments, you may find it more productive to look back. Reviewing your experience over the past year can yield a lot of clues about what may create the biggest successes for the 12 months ahead. Here are some statistics to compile. How many referrals...Continue reading
“There is no one single way to drive referrals, however there are some fundamental truths. Success is about ‘becoming referable’ and then staying top of mind with the client.” This one is special – and bittersweet. After five years and nearly 130 episodes, it is with some sadness (but with great pride) that we’re announcing...Continue reading
Social media and the Internet have revolutionized marketing communications and changed the role of news and publishing outlets. Advisors can market directly to their audience. But traditional media can still play an important role in helping you get your message out. To help you understand the principles of success whether you promote your own materials...Continue reading
I conducted my first client advisory board in the United Kingdom this week (my fourth country!). One benefit of working in Britain is the absence of a language barrier. “Since dad’s passed on I’m quids in. Really, more than I’ve ever had. Even though I’d not seen Nigel in donkey’s, I knew he had gone...Continue reading
Prospective clients want first to know that you are competent. Then they want to know they will enjoy working with you. The challenge is how to give people a feel for who you are before you have a chance to meet them. In this week’s episode of the Becoming Referable podcast, we examine how you...Continue reading
Many advisors like to ask clients “how are we doing?” Wrong question. You want to know that you are meeting, even periodically exceeding, client expectations. That’s the best way to cultivate loyal clients who refer. But asking about the quality of your work directly won’t tell you what you need to know. Of course, the...Continue reading
How do you discover how to improve your service? Client driven practices keep in touch with client needs, wants, and preferences and make adjustments as they change. So, it seems natural to ask clients what you can do better or what you can add to your business to do a better job for them. One...Continue reading