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About the Author

  • Horsesmouth director and resident referral expert Miriam Lawrence is the primary author of the Automatic Referrals action research report and has been helping financial advisors hone their marketing, prospecting, and business planning skills for more than 10 years.

The Report

  • Automatic Referrals
    "Automatic Referrals is so thorough and specific—it's my referral bible!"

    Michael Hyde
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    Boston, Mass.

About this Site

About Horsesmouth

  • Horsesmouth, the premiere business-building resource for financial advisors, offers new feature articles and tools every business day that help advisors excel in sales, marketing, investment strategy, client service, practice management, business planning, and more.

referral reading & resources


  • Grab CPA Referrals

    How To Grab CPA Referrals by the Dozens
    Daryl Logullo


  • Get More Referrals Now!

    Get More Referrals Now!
    Bill Cates


  • Building Your Multi-Million-Dollar Practice

    Building Your Multi-Million-Dollar Practice
    Peter and Katherine                  Vessenes


  • Endless Referrals

    Endless Referrals
    Bob Burg


  • Grab CPA Referrals

    Attract High Quality Referrals with Distinctive Events
    Michael Brizz

« May 2008 | Main | July 2008 »

3 Steps to Being More Persuasive

Whether in person or on the phone, you play a major role in how clients and prospects perceive you. The more persuasive you are, the more success you experience. Follow these steps provided by Art Sobczak, author of How to Sell More, In Less Time, With No Rejection,  for a persuasion tune-up:

Step 1: Get rid of the non-words

I find some people have this nasty habit to a very severe degree. When a listener is counting "uh"s and "um"s instead of focusing on the message, you know there's a problem. The persuasive speakers, on the other hand, don't use these filler sounds, or at least their use is minimal. How many times do you unconsciously depend on these words to fill a void?

  • Action item: Voice-over pro Susan Berkley, creator of Voice Shaping program, suggests that the first step to the cure is identifying the enemy. Record yourself and count how many fillers you use. Once you're aware of your most common non-words, consciously replace them with pauses.

Step 2: Enunciate!

A guest on a recent show mumbled so much that I had to turn up the volume and watch his lips so I could try to make out what he said. If I didn't care about what he was saying, I certainly wouldn't have worked so hard. And your listeners might not work that hard for you.

  • Action item: Read this several times: "If, I, place, an, invisible, comma, after, each, word, and, an, invisible, semicolon; after, some, words, my, speech, has, presence." This forces you to enunciate.

Step 3: Get up to speed

During interviews, the more persuasive talking heads make their points quickly and don't mince words. We can all learn from that.After all, why use 100 words when 50 could make the same point? And don't speak at 33rpm when your listeners are at 45. (You won't get that reference if you don't know what record players are.) In the book Smart Speaking, Laurie Schloff and Marcia Yudkin say that when you speak too slowly, you could be perceived as boring, tired, or less intelligent than you actually are.

  • Action item: Practice getting to your point more quickly. Pose yourself a question you frequently get during calls. Use a stopwatch and give yourself 45 seconds to answer it. Then cut it to 30, then 20. Tape your response and analyze it to refine your answer content and delivery.

Read Art's full article (free membership required) to fine even more tips for being persuasive with clients and prospects.

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Making the Switch to Target Marketing

Newly independent advisor Tom H. of San Luis Obispo, CA wanted to jumpstart his new business by concentrating on referrals and using target marketing to channel his message. "It has occurred to me that I don't have a defined target market," he wrote. "Yes, I have a book of business, and it includes many retired individuals as well as young business owners and random individuals."


But Tom had doubts about the approach, specifically a fear about alienating prospects with a specialized marketing message that didn't fit them: "At the risk of not maintaining a target market, I don't want to leave out possible clients.  Is this a sound approach?"


He addressed his concern to Bob David, Horsesmouth Director of Advisor programs and leader of the Automatic Referrals Jumpstart Program. Here was Bob's response:


"I understand how it can be a bit overwhelming to try to tackle too many things at once, especially after going independent. Having grown up in a small University town myself, I know there are some unique challenges. Here are a few thoughts:

  • Keep in mind that having a target market does not mean abandoning the clients you have that have been loyal to you as you've changed firms. This would be a de-motivator for you for obvious reasons. It just means that when it comes to your pro-active efforts, you will begin focusing on the needs of your "ideal client" or "target market."
  • It is very important to identify your "ideal client." It can be tough, but keep drilling down. Remember that success leaves clues, so start with a hard look at those retirees and inheritors. What do they have in common? What did they do before they retired? Are they affiliated with the University? Or the government? What is the demographic profile—are they men or women? What age? What are their affiliations, passions, hobbies, etc..?
  • Consider going one step further and doing a "SWOT" analysis: S—What are your relative Strengths in your market? W—What are your relative Weaknesses? O—What are the Opportunities perhaps overlooked by your competition? T—What are the Threats to your practice? (Could be aging clients, lack of a consistent advisory process, service quality, etc...)
  • Consider derivatives of the more obvious categories and maybe move beyond your borders. For example, "Family Owned Funeral Home Operators" throughout CA or retired college professors or retired football coaches, etc...

At first, target marketing can seem daunting, but if you do some digging like Bob suggests, in the end it's a rather natural extension.

For more on target marketing and SWOT analysis, see these Horsesmouth (free registration required) articles:


How to Pick a Lucrative Niche

Many advisors think that by keeping their options open to all potential business they won't miss an opportunity. But the opposite is true. A focused, rich niche can be far more effective. Here's how to develop a niche over the course of the year.


6 Rules to Guide Your SWOT Analysis

SWOT stands for strengths, weaknesses, opportunities, and threats. In order for your marketing plan to work, you must honestly assess your practice in these four areas. If not, you risk failing in your efforts to grow your business.


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