In this episode Peter Fysh is back and talking to us about qualified referrals. What is the difference between these and ‘leads’?
Leads: Simply a name and a number. No qualification as to who they are and what their specific needs are. The chance of conversion is minimal.
Qualified referrals: The person has been referred by a professional and introduced to the planner and why a review of their situation is important. It has been correctly positioned in the first place so it is now qualified. The chance of conversion is much higher here.
Position so the client feels comfortable: When a Dr. says we must go to a specialist we do it pretty quickly, but we don’t do the same with professional referrals for our finances! The referring partner needs to do a good job of explaining the experience and benefit to the client in the first place.
Peter has worked in Financial Services for over 25 years, with both Fund Managers and also Financial Planning businesses.
Working with Advisers he has assisted them in the development of their businesses, including the development of more productive referral partnerships with other Professionals, through his work with Effective Referral Management.
For many Advisers, and related Professionals , this aspect of their business remains a challenge, yet if addressed correctly, can result in improved outcomes for all, particularly for their Clients.
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