The ‘password’ to turn more referrals into meetings

When I first started as a financial advisor, my agency gave me a standard script to use for making appointments with prospects. I soon realized that most of the people I called would quickly cut me off and end the call before I could finish the script.

To overcome this challenge, I made my script more dynamic with the password idea. When I did that, most of the prospects became more interested and would let me finish my speech. If they are willing to listen, half the battle to make the appointment is won!

Here’s how the idea works:

When you log on to an online account, you need the correct password. Similarly, we need the right “password” to log in to our prospect’s schedule. Getting this password increases the chance that the prospect will meet with us.

Generally, when I asked for referrals from my client, other than their number and occupation, I also ask for the right password. I do this by asking, “Why do you think your friend would want to meet with me?”

Depending on what my client says, I incorporate it when I’m talking with the person I was referred to. If their reply is “retirement,” for example, I say when calling the referral, “Out of genuine concern, your friend John felt that retirement is important to you. Hence, he would want you to have this meeting with me.”

In addition to mentioning the right password, I also leverage the relationship between my client and the prospect to make the meeting happen.

Jake Lim Wei Lun is a six-year MDRT member from Singapore. This idea first appeared on the MDRT Academy website.  The MDRT Academy was created by MDRT and field-tested by financial advisors and organizations. The MDRT Academy is a fast track to MDRT membership.

For more on generating referrals: