What’s the biggest compliment you can get in this industry? A referral, because word of mouth is everything. Let’s think about top producers right now.
How to Engage with Top Producers in The First Place
We know…the $1 million question! Aside from using available data to determine which advisors are offering alternative investments to their clients, there are a number of ways to help find and serve your key prospects:
- Attend industry events, conferences and seminars to network with advisors. Engage in meaningful conversations, offer insights and provide value
- Provide educational resources to help educate advisors and make telling your story and promoting your alternative investments with their clients easy
- Foster a positive experience for both advisors and their clients – be consistent and as transparent as possible with communication
Referrals are Key
Once you’ve found your top prospects, turn them into referral sources. Top producers hang out with other top producers, who hang out with other top producers, who hang out with the people who are your prospects that you want to invest in your fund. So, what’s the best way to build your referral network? Start with one advisor, build their trust, and your relationship with them. What’s going to happen? They’re going to go back to their colleagues and say, “I just invested in this fund, you guys have to look at it for your clients.” And it just keeps rolling from there…especially if you continue to reinforce with the initial advisor that they made the right choice by investing in your fund…which goes far beyond just fund performance.
Increasing Your Referrals
Number one way to increase your referrals is to ask for them. The sales team can ask advisors if any of their colleagues would also be interested in learning about your firm or your offering. You can make it easy for advisors to pass on your information by suggesting they forward your contact information to interested advisors, or provide a high-level flier on your offering specifically for the purpose of gaining referrals…and tell advisors to share it with their colleagues.
Another great place to ask for referrals is in the survey for due diligence events. Advisors fresh out of a deep dive into your firm and investment offerings are likely excited about what you presented and in a prime mind space to share their enthusiasm with other advisors.
Word of mouth is a powerful tool. It’s increasing your testimonials, it’s a business recommendation, and it’s the most powerful referral you can get.
If you would like to discuss how you can increase your referrals, reach out to us today.
About Marketing Intent
We are a sales-focused marketing group specializing in alternative investments with a track record in marketing that helps drive sales. We live by the mantra, “nothing happens until something is sold.” Our marketing serves as the backbone of sales. Our work makes your prospects and clients take notice, ask questions and listen to your story. Learn how we can help create marketing that helps raise capital.