Word-of-mouth is less important to the unique individuals with natural sales talent. The traditional sales model works very well for them. But for those who lack the sales “gift”, word-of-mouth is key to developing qualified prospects consistently.
The best and highest form of word-of-mouth is where warm qualified individuals – the qualified friends, colleagues and family of your qualified clients, the clients you’d like to duplicate – learn about you from your current qualified clients.
There’s a good test to determine where you are in this equation. Just look at your numbers. How many brand new first appointments with warm qualified prospects have you completed in the last four to six months? If that number is not at least in the double digits, then the traditional sales model is not working for you.
Here’s another test. Look at the business you’ve closed over the last several years. You got the sale, you made the money but how much did the sale really grow your business? You may have gotten a few referrals but referrals are far different from warm qualified introductions. How many of those referrals actually converted to qualified clients? If any of this sounds familiar then perhaps it’s time to reconsider your approach.
A great way to begin is by making yourself remarkable. This is what happens when you freely share your knowledge and you’re not focused on selling as the endgame. It’s a word-of-mouth force of nature because it’s a business a qualified client will tell a qualified friend or colleague about.
Your qualified activity will spike when you shift from a sales to this service approach, educating your qualified clients and qualified prospects and being their go-to financial person – their financial advocate. You’ll still do the same work you’ve always done but your clients and prospects will see you differently.