The transfer of trust. You have to amplify it.

Posted by Oct21, 2015 Comments Comments Off
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Yesterday I spoke with a potential client that was referred to me by his brother. His brother is an existing client of mine. This potential client is a recently qualified ophthalmologist (surgeon) with an earning capacity in excess of $1 million p.a. He has lots of surplus income to invest and could really benefit from some good, independent advice.

When a client makes a referral they are transferring some of the trust that they have for you onto the referee (i.e. potential client). For example, this potential client trusts his brother, his brother trusts me, so in turn the potential client (to a degree) trusts me because of his brother’s trust in me (I hope I haven’t lost you).

However, you cannot leave this transfer of trust to chance. You need to subtly amplify the trust. For example, during my conversation with the potential client yesterday I made sure that I reminded the potential client that his brother trusts me, talked about the length of the relationship I have had with his brother, talked about how the brother followed my advice to upgrade his home at a perfect time and how it has worked out very well for him and so on. I didn’t do it in a way that looked like I was blowing my own trumpet but merely pointed out the facts of the situation. The truth is that I have worked hard over the years to build my reputation with his brother. I have helped him build wealth and so it’s important that the potential client understands this – as I can help him in the same way.

Then I spoke to my existing client and explained how difficult it is for potential clients to trust someone and take their advice. “If you would like to help your brother, please share your experiences with him, what you feared at the beginning and how it has turned out for you” I said to my client. This approach is very powerful.

Do you have a systemised process in your business to amplify the trust that most referrals bring with them? Do you educate potential clients about how you have helped people in the past? Do you ask your existing clients for help to reinforce the value you bring? Making a successful referral is much more than just passing on a name and number. And clients need to be trained and given some direction. This will only happen if you have the right referral systems.

Would you like to know more? Click here to find out more about Stuart’s new online training: “The Ultimate Mortgage Broker Referral System”.

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