Six Steps Toward Getting Referrals from Wealthy Clients

Six Steps Toward Getting Referrals from Wealthy Clients

Referrals are golden.

They cost little if anything, come from trusted sources and usually include a nice background briefing. Experience shows that if a referral can be signed up as a customer, they tend to stick with you out of loyalty to the person who referred them. Here’s some advice on how to get more referrals from your high-net-worth clients.

Step one: make a list of your top 25 customers, then formulate a plan to spend more time socializing with them. Your goal is to build an emotional rapport with your key clients, a bond that goes beyond the limits of your business interactions. Customers who value your friendship are more likely to refer their friends and colleagues. It’s all a matter of trust.

There’s a golden rule in our industry: every affluent client should bring you six new clients over the course of your relationship. Make it easier for them: find out who they know. Your research will likely turn up a plethora of connections to your current clientele, people who meet the highest standards of customer value potential.

The next task is to meet these prospects in a social setting, with the meet-and-greet smoothed by your client friends. Business shouldn’t be on your agenda at first: your goal is simply to get to know each other, without the sales pitch or any other pressure. Once you’ve built good relations, the foundation will be set for future business.

Sooner or later, your new friends will mention a need that you’re positioned to fill. Changes to an estate plan, establishing a trust or education fund, insurance concerns and so on – these matters come up naturally and if you’ve built a trusting personal relationship, there should be no obstacles to suggesting a business meeting.

For more information, please read:
Six Steps for Getting More Referrals From HNW Clients | Wealth Management


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