It’s no secret that the vast majority of new business for advisers originates from a referral from either a client or another professional.
When asked, less than 10% of advisers actually have a formal referral process that is proactive in nature, have documented steps that can be measured, and a process that is systematized to become a powerful growth engine.
Through conversations with advisers and consultants over the years, it often comes down to the fact that advisers as a species are a shy bunch.
If advisers had an automated way to systematize the steps and tactics to nurturing referrals, might they be more willing to be more proactive?
With the widespread adoption of new online communication channels and social media by investors of all ages and demographics, advisers have available to them powerful content publishing and communication tools to get their marketing messages distributed in a broad and efficient way.
If the content is forwarded on by a client or prospect to someone else, Vestorly provides that data in a dashboard, providing an automated and efficient way to identify referral opportunities and nurture those through ongoing content marketing.
One idea is to go to your local University and advertise a marketing internship for an MBA candidate with a technology background to spend a semester building out the steps of the referral process, including the various communications, letter templates, follow up steps, thank you gifts, etc.