Do You Want Referrals or Introductions?

Bill Cates

At our Referral Training Camp for Financial Professionals, we talk about the distinction between a referral, recommendation, and an introduction – and which is the more effective word to use. I used to believe that this was merely a semantic argument that wasn’t worth much time. However, things have changed.

While getting our clients to recommend us to others is not a bad thing, and getting them to tell us about people we should call is good as well, what we really want – especially in this Do-Not-Call era – is introductions. We want our clients to introduce us to others in such a way that these prospects either call us or are interested in taking our call.

I think of referrals as a “for internal use only” word. We use the word freely during the program. However, when talking with our clients, we should use the word introductions. Talk to your clients using the word that best represents what you want. If you want introductions, use that word.

Here’s a simple example. I know many advisors who put the following statement on the back of their business cards or on an engraved piece on their desk with these words:

“The greatest compliment a client can give to me is a referral to someone else they think can benefit from the work I do.”

It’s time to up that tried and true statement to:

“The finest compliment my client can give to me is the introduction to someone they care about who should know about the important work I do.”

Of course, there are a million variations to this concept. But if you want “introductions” start using that word.

Click here to watch my Exclusive Web Class Replay, “Turn Client Loyalty into Referrals & Personal Introductions to Create a Perpetual Flow of High-Level Clients!”