Get More Referrals Now! Presented by: Bill Cates Presented by: Bill Cates Copyright 2010 by Bill Cates How to Ask for Introductions without Begging or Pushing

Enhance Referability Target Niche Markets Prospect for Introductions Network Strategically Network Strategically

Embrace a Referral Mindset

Referral Mindset “I meet my prospects the way they want to meet me.” 1

How Affluent Clients Meet Their Financial Professionals Russ Alan Prince – CEG Worldwide Seminars, Mail Leads, Etc. Referrals 84% 16% Are you merely dabbling in referrals? Or are you fully committed to referrals?

“I leverage the life-time value of my clients.” Referral Mindset 2

“I have a process for generating referrals.” Referral Mindset 3

It’s Like Billiards

The Trust of One Leads to the Acceptance by Many Geometric Growth

“I believe that approaching clients for referrals is a safe thing to do – not risky.” Referral Mindset 4

“I to get referrals!” Expect Referral Mindset 5

is the most important ingredient in gaining a new client…

So make sure you meet all your new prospects starting at the highest point of trust. That means a Referral

FOR INTERNAL USE ONLY Promote Introductions Plant Referral Seeds Promote Introductions Plant Referral Seeds

Don’t keep me a… Plant Referral Seeds secret!

Larry DeNoia Top Advisor The Million Dollar Secret

Cindy Dunn New Advisor An IRA Rollover = $6879 A client of mine received his quarterly statement on his annuity and called because he was happy with the performance. He noticed his 401k at work was losing money. So he wanted to know what suggestions had. I told him I would be glad to review his 401K with him. When we met he told me again how happy he was working with me and with his account. I, of course, thanked him and told him to go back to work and tell all his buddies the great work we do and "not to keep me a secret". The next day I received a call from him. He had a couple guys from work that wanted to meet with me. I met with the first referral on Friday and rolled over an IRA from another firm for a GDC of $6879. Thanks Bill Cates!

“I’m never too busy to see if I can help any of your friends, family, or colleagues.” Plant Referral Seeds

“If you ever introduce me to anyone, I’d like you to know how I would handle that – what it might look like.” Plant Referral Seeds

“Please leave a message at the tone. And if you were referred to us, please let us know who we need to thank.” Plant Referral Seeds

Don’t keep me a secret! I’m never too busy to see if I can be a resource to your friends, family, or colleagues. Here’s how I handle referrals from clients. Here’s who my practice is geared toward these days.

your personal to asking for referrals! your personal to asking for referrals! Bust Through Barriers

Without question, the main reason why most advisors do not ask for referrals is… Referral Barriers Fear !

______ you haven’t provided enough value yet. Referral Barriers Fear

______ you’ll hurt the relationship. Referral Barriers Fear

______ you’ll look unprofessional or needy. Referral Barriers Fear

______ of not knowing how to get out of the conversation. Referral Barriers Fear

“In order to succeed, your desire for success must be greater than your fear of failure.” Bill Cosby

Discuss referrals at the right time and not a minute before.

Value Ask for referrals when has been given and has been recognized.

Ask value- seeking questions.

Referrals are the VIPS of your business. Use the VIPS Method™

V V Discuss the v alue they recognize.

Treat the request with i mportance. I I

Get p ermission to brainstorm. P P

S uggest names and categories. S S COME PREPARED

Remembering The VIPS Method™ V I P S Value Discussion Importance Permission to Explore Suggest Names & Categories

Remember: It’s not about being slick or tricky, its about sincerity. Remember:

1.Referral Coach Home Page 2.Free Newsletter 3.Referral Champions Boot Camp 4.Referral Champions Coaching 5.Referral Coach Store Master Referrals

Explore client concerns. Back off confidently. For Representative Use Only – Not for Public Distribution

1.“The next time you recognize someone who you think should know about the work I do, please don’t keep me a secret. Make sense?” 2. “I just wanted you to know that I’m never too busy to see if I can help others you care about. Fair enough?” Explore Objections

Don’t Ask for Referrals! To avoid referral objections…

Fool Proof Formula Meeting #1 Provide Value Check for Value Recognized Plant a Seed for Referrals

Fool Proof Formula Meeting #2 Provide Value Check for Value Recognized Plant a Seed for Referrals

Fool Proof Formula Meeting #3 Provide Value Check for Value Recognized Ask for Referrals

Brainstorm the best way to get introduced to the prospect. An Engaged Introduction

Engaged Introductions 1. In-person is usually best. 2. Attend a business event with your client. 3. is very efficient. 4. Talk about what the introduction might look like. 5. Set a time frame for follow up.

Referral T.R.U.S.T. Receive Referrals in the Best Way Create Referral T.R.U.S.T.

Treat the prospect like royalty. T T Referral T.R.U.S.T.

Respond immediately. Referrals have a short shelf life. Referral T.R.U.S.T. R R

Update the referral source on your progress. U U Referral T.R.U.S.T.

Send a personal note of thanks along with a small gift. Referral T.R.U.S.T. S S

Encourage the new client to THANK the referral source. Referral T.R.U.S.T. T T

1.Be clear with your words/scripts 2.Practice – Practice - Practice 3.Set achievement goals 4.Set behavioral goals 5.Track your behavior and results 6.Utilize accountability! 7.Share this message with others! Learn – Do - Teach To Produce Results

Presented by: Bill Cates Copyright 2010 by Bill Cates Get More Referrals Now! How to Ask for Introductions without Begging or Pushing