When your best clients drive your practice,
attracting more of them is easy
Learn to get referrals the natural way
and revolutionize your business
Most of what you have heard about getting referrals
is incomplete, outdated, or wrong
Advisors don’t get referrals because they
have no formal plan to attract them
Steve Wershing is the best marketing mind in
financial planning. - Bob Veres (Publisher, Inside Information)
Introductions following our last client advisory board meeting represent almost $30 million in new assets.

Create a free account to be able to access the resources mentioned in my book and a variety of helpful tools, presentation keynotes, additional material and more!

Tags
Contact information

10 Office Parkway

Suite 300

Pittsford, NY  14534

585-381-2662

info@theclientdrivenpractice.com

 

Connect with Steve

join our mailing list
* indicates required

Get posts in your reader

Looking for the resources mentioned in the book?

Click "Register" to join, and Login get free tools!

« How to deepen relationships that generate referrals – Lisa Kirchenbauer on the Becoming Referable podcast | Main | Secrets of Social Marketing - Kevin Knebl on the Becoming Referable podcast »
Friday
Aug022019

Know, Like, Trust, Nope

There is an old expression in sales that to win clients they need to know, like, and trust you. But that old saw leaves out something critical. And makes it so easy to be off the mark that it ends up doing more harm than good. Let’s retire that old idea.

Obviously people need to know you for you to be considered, and they must trust you before they will put their welfare in your care.

What leads people astray is “like.” If I’m buying a refrigerator, and I can get exactly the same model at any one of a dozen stores in my town, the salesman I like will have an edge. Absent any other information, the saying goes, people prefer to do business with people they like. In professional services, however, there is other information. And the information that will help you is what should distinguish you from your competition. If too much of the relationship is based on how much a client likes you, there is a big risk that client will bolt the first time you make a mistake or there is a down market. Strong relationships are built on more than like.

I suggest “respect” is more important than “like.” Credibility arising from expertise will attract more strongly and securely than likability. I know many advisors who have attracted clients away from an advisor who was a friend of theirs – I have done it myself and you probably have, too. How? When the client needed a solution they did not think the friend could provide (or was not providing), they turned to a professional whose expertise they believed would get them what they needed. You probably know a few people who are among the most successful, best known experts in their fields who have no difficulty attracting clients (and charging high fees) even if they are not particularly pleasant people. Can you imagine yourself saying something like “I don’t know that I would want to go have a beer with her but she is the most incredible tax attorney I have ever met”? Or “that guy is a real pitbull in court but I’m grateful he’s my pitbull.” Respect trumps like.

More to the point, you can establish respect in a single appointment faster than you can get someone to like you enough to trust you. It may be that you are a candidate because of a reputation that established respect. And if a prospective client is interviewing several advisors, there is a good chance that most of them will be equally likable.

The connection to referrals is easy to draw. How do you want to be recommended? You should talk to my advisor, I really like him and you will, too. Or, you need to meet my advisor. She’s an expert and has solved some of my thorniest problems and I know she can help you with your challenge, too.

Here is how you can leverage this idea in your marketing. Emphasize your skills over how much clients will enjoy working with you. It’s great if you provide an experience your clients enjoy, but your expertise takes priority. Develop expertise and project it in your communication. Be a thought leader. Design a client process that highlights the problems you can solve and how well you can solve them.

Likability is fine. And it’s less important than respect and recognition of your expertise. When prospective clients are looking for a solution they will be attracted to someone who can fix the problem more easily and reliably than someone they like.

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>

Subscribe for FREE to The Client Driven Practice Referral Marketing Tips!

160 Allens Creek Rd, Suite 270 Rochester, NY 14618 | 585-381-2662

© 2013-forever, Stephen Wershing.
All rights reserved.

Home | Contact Us | Login

site by: CR

160 Allens Creek Rd, Suite 270, Rochester, NY 14618 | 585-381-2662

Home | Contact Us | Login | © 2013-forever, Stephen Wershing. All rights reserved.