We all recognize the value of referral sources and the role they play in helping to advance an estate planning professional’s legal marketing efforts ad business. All referral sources, however, are not created equal. While one may readily refer, another may be detached or disengaged. If you’ve invested the time and energy in building your network but are less than satisfied with the results, here are some practical steps you can take to improve your referral quotient.
First, it’s important to remember that a successful referral network is not a once-and-done project. Like all relationships, these need to be developed and continually nurtured. That starts with educating your referral sources on precisely what you have to offer. Do you have a Marketing Kit that will help to introduce you and spell out in some detail your practice areas and your planning process? Once the introduction and initial meeting have taken place, you can begin developing your working relationship.
At the top of the development list is educating your referral sources on how to properly make a referral, one that offers a reasonable assurance of success. Train your sources to actively schedule the initial meeting with the client. If a client is meeting with the Advisor and expresses interest in meeting with an estate planner,
encourage them to schedule the meeting right then, to strike while the iron is hot. Successful estate planning professionals set aside specific days and hours in their week for precisely these kinds of opportunistic initial meetings.
Further, offer to schedule the initial meeting at the Advisor's office rather than your own. A familiar environment for the client is a more comfortable setting to make your first impression. As an added benefit, it keeps the referral source involved in the planning process, increasing their circle of influence with the client.
A high-tech scheduling tip: Consider installing a scheduling widget on your website and link it to your calendar. Then train your referral source to visit your website, click on the calendar and schedule the meeting immediately. Electronic scheduling increases the likelihood that the meeting can be scheduled while the client is still on the phone or in the Advisor’s office – and it avoids the potential problem of a busy or unanswered phone call to your office.
Other important considerations in stoking your network: Upload your Client Marketing Kit materials to your website. Once a meeting is scheduled, the referral source and/or the client can visit your site and download the estate planning questionnaire form and any other pertinent information.
Whatever system you employ, keep the lines of communication open and regular between you and your referral sources. Each time you meet, be sure they understand your process and how it benefits the client and them. Your referral network is a valuable asset. Actively managing and nurturing this asset will help you optimize your practice building efforts, increase your referrals, and reach your goals.
