Is it just me or does the average advice professional have a total love/hate relationship with referral partnerships?
One Vanguard study I read whilst prepping our two-day program workshop last October shared one simple statistic that summed it all up.
65% of advisers saw business partnerships as a great way to grow an advice business.
Only 32% indicated they’d been able to make it work.
That’s a 50%+ failure rate, and I think it’s a real issue.
Jay Abraham, a man recognised as a pioneer in direct marketing the US, was once asked, “If you lost everything, and could only use one marketing strategy to get it all back, which one would you choose?”
Without missing a beat, he replied, “Partnership marketing”
Putting together a network of great business partnerships that send you strong, pre-sold, qualified leads doesn’t have to be as hard as it is, but there are three mistakes good advisers make.
I grabbed an excerpt from the workshop itself if you’d like more. I did my best to cut it down, but this is pure, unfiltered content from our live workshops. There’s only so much you can cull.
If you like it, feel free to refer it on to others who have mentioned they’d like to make this strategy work better.
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