The Do’s and Don’ts of Earning Referrals from Women

Women are a megaphone for building your book of business! When women have a good experience, they are much more likely to talk about it than men are. To women, a conversation isn’t substantial unless it’s personal or about people. So, word of mouth spreads faster with women than men.

To encourage referrals from women clients DO:

• Develop great relationships with your women clients that more than meet her needs. The referrals will flow naturally from this. One financial advisor I know of analyzed his referral sources and found the average number of referrals he received from men was two. The average number from women was 26!
• Surprise and delight! Give a small, personalized gift to referral sources and the clients they refer to you. Another financial advisor I know makes homemade jam and personalizes the label. It’s a big hit with his women clients!

But DON’T:

• Bluntly ask for a referral in conversation. Even saying, “Do you know anyone else who could benefit from our services?” puts women on the spot and creates pressure. Women are  more protective of their friends than men are and don’t want to feel like they are putting their friends into a sales situation.
• Offer a referral points or reward system. If women directly benefit from the referral, they could feel like they are “using” their friends for personal gain.

Follow these tips and watch your referrals multiply!