Coaching New Clients How to Introduce People to You-Immediately!
At a recent seminar I did in Long Beach, an advisor who had recently adopted our recommendation process had tremendous success attracting referrals from his best clients. What he failed to do however is coach his newly referred clients how to make an introduction as well. As you know, someone who has been referred to you and has been through your fit process is a tremendous candidate to make an introduction to you as well.
The following is the scripting that you can use with new clients. This is a variation of the process for existing clients as well as promotional partners and is proven to be effective at fast tracking new clients to advocate status.
In your initial prospective client meeting, plant the seed for the concept of recommendations when you reach the agenda item * Introducing Others towards the end of the meeting.
“Bob, there are several value-added services that I provide for my clients that they really find to be of value. One of them is, I make myself available to act as a sounding board for friends and family members of my clients and should we decide to work together I will outline that process for you.”
Assuming there is a “fit” and you both decide to work together, at the Signing Ceremony meeting proceed to coach your new client Why, Who and How. Why he should feel comfortable to introduce people, who is a good fit and how to make the introduction. The agenda item to prompt this conversation is * Making Introductions. Remember, use a hypothetical tone, position this as a service you are providing rather than a favor you are seeking, project scarcity, don’t look needy and be clear, forthright and congruent.
“Bob, you’ll remember at our first meeting, I mentioned to you that invariably throughout the lifetime of our relationship there may be a situation where either a friend of your asks you about me or you simply feel compelled to introduce a friend or family member to me. Now please understand, I’m not asking you to think of anyone right now, this is simply for down the road.
Now first off, it’s important that I explain to you why I have made the commitment to be a specialist, who I work with and then how to get the wheels in motion should a situation present itself.
First and foremost, I like to think of my business, for lack of a better term, as a small exclusive club. By that I mean, while there are some financial advisors out there who are trying to build these big businesses and try to be all things to all people, I’d rather strive to be all things to some people. In other words, my goal isn’t to see how big I can get but rather how small I can stay.
I’ve taken this approach because it enables me to provide a variety of value-added services to my clients that they really find to be of value. One of those services is that I make myself available to act as a sounding board for friends and family members of my clients.
Now please understand, anyone you introduce to me does not need to become a client to take advantage of this service. I’ll simply make myself available to answer their questions and ultimately help them make informed decisions with their financial future. And I have to tell you that this one of the most fulfilling things I do. Financial success is a matter of choice, not chance. I don’t like when people take chances with their finances, I like when they make informed choices, whether or not they are a client.
What’s interesting is that on occasion I will meet with a friend of a client and we really hit it off and we do decide to work together, as was the case with you and I. Let me explain to you who those people are.
(Proceed to write AAA vertically on the client’s agenda and explain Assets based on your expertise fitting those specific needs based on being a specialist, Attitude based on rules of engagement and their being chemistry and rapport, and Advocacy based on a mindset of the person buying into something rather than simply buying something.)
Now what’s interesting is that on occasion I will meet with a friend of a client and the friend will want to work with me but if I don’t feel we would be a good fit for each other based on my Triple A ideal client profile, I won’t bring them on as a client and I hope you’ll understand that. I will however introduce him or her to a more suitable advisor if in fact they are looking to make a switch from their current provider.
And let me explain why I can’t work with everyone. As I mentioned, there are some advisors out there who have more of a mindset of salesmanship meaning they simply ask people to buy something from them. That’s not me. I have a mindset of stewardship meaning I ask people to buy into something. A meaningful long-term relationship based on trust. Furthermore, there are only 24 hours in the day and we prefer to stay small and be mindful of our capacity to serve a smaller group of clients. We can’t be all things to all people. If we go beyond our capacity, the service we provide will get diluted and that is a path I don’t want to go down.
That said, there is a process in place that my clients use to make introductions. If someone asks you about me or you simply feel compelled to introduce a friend or family member to me, give me a call. Tell me about your friend and give me their contact information. I will touch base with them, arrange to meet and send them my introductory kit to outline my investment philosophy and mindset. And of course, hold me accountable. Anyone you introduce to me will afforded the same level of professionalism and confidentiality my clients receive.”