The best three ways to generate new business leads fast

While there are many different ideas about what it takes to grow a successful financial advisory business, there are three tried and true methods that seldom fail.

Everyone knows these are the very best right? Well why is it that most of us don’t even ask, or if we do, we don’t do a very good job of it? We’re not talking about organic, unsolicited referrals that are volunteered by our best clients, we mean referrals that we consciously and systematically request from our clients.

Here are three key things you can do that will immediately improve your ability to get regular, qualified client referrals – on purpose:

1. Research and study the many and varied ideas, tactics, strategies and methods for gaining client referrals and choose the approach that you are most comfortable with.
2. Remember, it’s the sum of the parts – the language you use, the tools you use, your confidence and the way you position the importance of client referrals to your clients, all add to your success. So, design your system around all of these components.
3. Practice – I know everyone hates this part, but it’s true ‘amateurs adlib and professionals practice’. Practice the whole system until you are totally comfortable,
   at ease and confident – you’ll be glad you did.

While there are many reasons why we don’t ask for referrals from our clients, such as fear of rejection, or feeling embarrassed, when we do, properly and confidently, the business results can be really surprising.

2. Centre of influence (alliance partner) referrals

Do you have people of influence who provide you with regular, qualified potential client referrals – people who are seen as ‘authorities’ themselves such as accountants, lawyers and even finance brokers – professional advisers who promote and advocate for you and your business? If you do, then no doubt you are reaping some strong rewards.

However, unfortunately while many of us do have, or have had, these types of business relationships, for a whole range of reasons they sometimes just don’t seem to work very well.

There are a number of reasons these relationships fail or fail to even get started but our experience shows that these are the two main barriers to success.

Lack of trust

The professional has had relationships in the past where the financial adviser has in some way, perceived or otherwise, let the referrer down. Maybe it was poor advice or advice that was incongruent with their own advice, poor service or they have even taken clients away to alternative business offerings.

This can be the case, but just as often, the professional has not provided regular, qualified referral opportunities and over time, with constant perceived hounding from the financial adviser, the relationship breaks down or simply stops.

They think ‘I’ll refer someone when I see a need’ but of course they rarely identify a need because they are generally focused on different client concerns and simply don’t interpret how financial planning advice integrates with their own tax and business advice. This leads to the next point.

Our approach

We go into meetings ‘cap in hand’, almost subservient to the other professional. The relationship, if it goes anywhere, is doomed from the start. They seem to have all of the control, because they do.

Rather than taking the lead and having an in depth discussion about potential mutually beneficial results that can be derived from a business alliance, we often stop short. We fail to identify the advantages of proactive input from both parties, and to gain firm agreement from the alliance partner to a robust, systematic client introduction process – and/or we fail to closely and regularly review and monitor both parties actions.

3. Information and education marketing

Your target market is searching for specific information, knowledge and insights right now.

In fact today, particularly for large purchases, more often than not we will research as much as we can before we approach any advice, service or sales provider.

And of course it’s the internet, or Google specifically, where most of us go to get our answers. So why not make sure you are the one that people find online when they are searching for their education?

Yes it does take a little planning and work to get the information placed where it will be found easily, but the benefits are truly significant. Because your name and/or face is linked to this knowledge and you are credited as the author of the answers, your credibility, expertise and business authority are automatically elevated.

And if you design a complete, systematic approach to continue to compellingly engage your interested searchers (prospects), you can further position your ‘subject matter expertise’ to the point that they become highly motivated to actually meet you and seek your advice.

So why not begin this process of getting information about you and your expertise out to your market – the knowledge your motivated buyers are searching for online? Then they can get the information and education from you and you can take them through your sales and marketing funnel. You can take them from inquisitive searchers to qualified prospects to satisfied clients.

Here are just a few ideas to get you started. Consider developing:

• Specialist whitepapers
• ‘How To’ instructions
• Q&As
• Service or product training
• Guides
• Checklists
• Tips and various other insights into whatever knowledge your market is most likely to really appreciate.

The team at Capstone can help you to take your business to the next level. To find out how contact:

Kym Turner
Head of Coaching & Development
Capstone Financial Planning
P: 03 8622 0719
E: k.turner@capstonefp.com.au