Financial advisors need to be proactive in their marketing efforts in order to attract and retain clients. One of the most effective methods for growing your client base is through word-of-mouth referrals. The 3-letter referral campaign is a proven strategy for financial advisors to generate new leads and expand their clientele.
The idea behind this campaign is to send three referral letters to your clients, spaced two months apart from each other. Each letter should focus on a different aspect of your practice or be tied in with a specific event. The goal is to position yourself as a trusted and knowledgeable advisor who is always there for your clients.
The first letter should be a follow-up after a client review meeting. In this letter, you can summarize the action items discussed during the meeting and close with a request for referrals. By sending this letter, you are demonstrating your dedication to providing excellent service and following up on important matters.
The second letter should be an invitation to an upcoming client appreciation event. Encourage your clients to bring a friend or relative to the event and close the letter with a request for referrals. This letter is an opportunity to strengthen your relationship with your clients and show them how much you value their business.
The third and final letter should be an educational piece that highlights life-changing situations that warrant a referral to you. Clients need to be informed about when it makes sense to refer a friend or relative to you. Examples include births, deaths, divorces, job changes, business owners selling a business, selling real estate, and more. In this letter, you can showcase your expertise in helping clients navigate these changes and highlight the significance of these events in regards to the movement of money.
The 3-letter referral campaign is a powerful tool for financial advisors to generate new leads and grow their client base. By sending three well-crafted letters, you can establish yourself as a trusted and knowledgeable advisor who is always there for your clients. Whether it’s through a follow-up letter, an invitation to a client appreciation event, or an educational piece, each letter should build on the previous one and reinforce your commitment to providing excellent service.