Overcoming the Five Barriers to More and Better Referrals

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When you immerse yourself into a niche and surround yourself daily with information and people connected to that niche, like I have with financial advisors, you can’t help but develop a deep understanding of their needs. Something I’ve noticed that continues to be overlooked or brushed over is knowing the answers to five significant, distinguishing questions.

Every advisor I speak to struggles to answer at least one of these questions in a way that would be beneficial to their referral efforts. I totally understand why that is, but it illustrates the need for advisors to up their marketing efforts…especially their referral tactics.

And here’s why.

Let’s look at this from a 30,000 ft view. Everyone wants more referrals. But nobody wants to ask for them. So you focus on providing great service hoping that will do the trick. Your clients love you but they’re still not referring you as much as you would like. COIs aren’t referring back to you either. What or who is the common denominator?