Need help on referrals. I’ve had my book for 14 years and never really been good at asking for referral. Is sending out a letter to current clients asking for two referrals a bad idea?

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I️ think a phone call or lunch is better. More personal. “I’ve decided my team and I️ can take on some more capacity”. You have to come from the angle of assisting those who need help. “Do you know someone that might benefit from the services we provide to you?” Good luck!

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My business 85-96% referrals. I keep that up by just asking for 4 -10 each time I talked to my clients, especially during annual reviews. I even send thanks gift cards for referrals that do business

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Look into the “Preferrals” approach that Invesco put out. I️ think it makes a lot of sense

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Our team has had 45 prospect meetings YTD. I’d say 95% of them came from client or COI referrals. I know this because we track who came through the door this year and how heard about us. This is the most we’ve ever received (in business over 20 years). I believe a lot of that has to do with us tracking them and following up. After every prospect meeting we send a handwritten thank you note. If they do not reach out or actively engage then we do a follow up call 2 weeks later. Also, we’ve made a conscious effort to simply inform our clients that we are looking to serve more people and provide others value just as we have provided them. We reassure them that their friends or family will not be pressured. We are simply trying to touch more lives. We also include these sentiments in our email signatures, newsletter closings, social media posts, and during client events. It’s been a very soft approach, but has really paid off for us. Most of the time clients don’t refer for the following reasons: they may think you are too busy and not taking on new clients, they are unsure what their friends or family make so they are afraid of wasting your time, they are not sure what to articulate to their friends or family. Address these hesitations and break down any barriers they may have.

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I️ think asking clients for referrals puts them in an awkward position. Sourcing names of people they know and asking for a personal introduction is better. I’ve met a lot of people who knew existing clients this way. Some become clients. Best way to get referrals is to give someone outstanding service. Then they become a raving fan.

Google Rod Burlyo and get his book More Great Client Events. If you're good clients are like disciples bringing people to you.

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