Creating a referral system for more 401(k) business

When it comes to marketing, referral sources are some of your best allies. Here are a few ways to create a repeatable system for generating, growing and sustaining your referral sources.

Identifying Active Referral Sources This may seem obvious, but it’s surprising how few advisors track the source of their clients. The simplest way to do this is to add a section to your database. Ask new clients how they heard about you. Once you identify your referral sources, you can target your marketing efforts. Active referral sources are those individuals who have referred you clients in the past 18 months. Create an enewsletter specifically for your referral sources, meet with them to continue to build your relationship and send them thank you notes for their referrals. These are just a few of the ways that you can convert your referral sources to raving fans.