🛻 A Sticky Situation

What did one Colorado woman do immediately after she got out of jail for stealing a car? Tried to steal a pickup truck.

As she was walking away from the slammer, she spotted a pickup truck with the keys still in the ignition. 

She hopped in hoping for a quick getaway, but things didn't go as planned.

Plot twist: the truck had a manual transmission and she didn't know how to operate it.

Let’s just say…she didn’t get away with it!

- Team Advisorist

In Today’s Issue 👇

• How to use testimonials like a pro

• Fresh ways to get more referrals

• Tips to organize your DMs

📣 Rock Your Testimonials

Testimonials are one of the best ways to showcase your credibility. When a prospect reviews feedback from people you've served, it's a slam dunk in the trust-building department.

They're also a relatively low-cost way to give your marketing efforts a big boost.

While testimonials carry a ton of power, many advisors shy away from using them. Maybe it's compliance worries, or maybe it's not knowing where to begin. Don't let the fear take over!

Here are some helpful tips to make the most out of client testimonials.

📢 Implement a process. 

If you don't have a testimonial process in place, getting one on the books before creating a strategy is a must. Get familiar with the SEC's guidelines on testimonials. Tap a compliance professional to ensure your process is squeaky-clean.

If you're starting from scratch, this guide is a wealth of knowledge.

If your firm already has a documented testimonial process, make sure you're following the rules.

📢 Include disclosures for ads.

Whenever you use a testimonial in email campaigns or on your website, you'll need to add three disclosures:

• if the provider of the testimonial is a current client

• if they have been compensated

• if there are any material conflicts of interest. 

The disclosures need to be “clear and prominent,” meaning within the four corners of the ad, not a footnote.

📢 Visibility is key.

What good are testimonials if they're plopped at the bottom of your website?

Your best bet from both a compliance and marketing standpoint is to feature an eye-catching testimonials section that houses them all in one place.

Consider also utilizing Google Business Profile. Data shows that 9 out of 10 searches start on Google and 63% of people check Google reviews before visiting a business. 

Having clients review you through Google is a cheap and easy way to get you a good SEO ranking.

📢 Bake feedback into the client experience.

When you make it a point to ask clients for feedback as a regular part of your meetings and calls, asking them for a testimonial will come much more naturally.

Not only will routine feedback shine a light on where you need to improve, you'll also build a steady flow of client testimonials to add to your arsenal. 💪

Headline Roundup

🏠 Affecting Your Clients

• Retirees May See Increase in Social Security Checks [FOX]

• Debt and Delinquencies are on the Rise for Americans [CNN]

• Whether You're Middle Class Could Depend on Where You Live [CNBC]

📈 Markets & Economy 

• Analysis: Walmart's Strong Forecast Signals a Resilient Consumer [Y!]

• Import Prices Post Biggest Increase in Two Years [MW]

• Legendary Hedge Fund Exited GameStop Before the Stock's 550% Spike [Y!]

💼 Industry Roundup 

• Biden, IRS Take Aim At Wealthy's Use of Donor-Advised Funds [FA]

• Most Americans Lack Confidence in Managing Inheritance Alone: Survey [TA]

• Gen Z Clients May Be the Right Fit for New Breed of IUL Products [INN]

🗣️ Fresh Strategies to Boost Referrals

We all love a juicy referral (or seven). We love them even more when they fall into our laps with ease or come out of nowhere.

However, we don't live in that kind of dream world. Referrals often take some leg work and finesse, and building a solid pipeline of them is both an art and a science.

Need some fresh inspiration for your next referral quest? We've got you covered with these top tips:

💭 Picture your ideal intro: Many people start their ask for a referral with vague questions, like "do you know anyone who's a good fit for me?" or "who do you know?" The person on the other end is left scrambling for an answer.

It's much more effective to lead with the exact type of prospect you're looking for, including average revenue, industry, and job title. People are much more likely to give you names when you're specific.

🍎 An apple a day: Challenge yourself to ask for one referral per day. It takes just minutes out of your schedule and has the potential to really boost your business.

If you started in January and asked for five referrals a week, you could possibly connect with 250 additional prospects per year!

🤝 A friend in need: When you phrase your referral pitch as a request for help, it goes down a lot smoother. People love to help others, especially those they like and trust.

🍬 Sweet rewards: Consider hooking clients up with a valuable reward for every referral they send your way. A small, personalized gift, like a gift card to their favorite coffee shop, goes a long way.

You could also start your very own referral incentive program with a tiered reward system. The more, the merrier!

⌚ Timing is everything: The best time to ask a client for referrals is during what's known as a "Golden Moment," or when they're the most satisfied with your work. Take advantage of those whenever they pop up.

Don't forget to return the favor on your end, as well. Send business back to your clients whenever you can. They'll appreciate it as much as you do.

🗓️ Event of the Week

Power Hour: Wednesday at 12pm EST/9am PST

Discover how to connect with business owners and generate recurring streams of revenue that could take your income to the next level!

👉️ Click to register for free!

🤖 Tech Tip

Tired of losing group chats in your DMs? Did you know you can pin them? You're welcome.

👉 On Instagram, you can pin up to three chats to the top of your list. From the messages menu, slide a chat to the left and select Pin.

👉 In Facebook Messenger, you can go a step further and pin individual messages in a chat. Super handy for remembering shared addresses or the link to your fantasy football draft board. 

While in a chat, click and hold a message, then tap Pin. Click View Pins to get quick access to everything you've saved.

✌️Good Vibes

Michael Hoffen isn't just a teenage author. He's also a translator of ancient texts, something he's done since middle school.

As a child, Hoffen was drawn to a 4,000 year old manuscript from ancient Egypt’s Middle Kingdom. Along with two other co-authors, he spent three years translating hieroglyphics into readable stories.

Thanks to Hoffen, people now know what life was like as a worker in the Egyptian royal court. His book, Be A Scribe! Working for a Better Life in Ancient Egypt, also includes a father's life advice to his young son. 

Readers of Hoffen's book say they're amazed at how similar the parenting advice of the ancients is to ours today. History may change over time, but the fact that we're all human remains the same. 😌🙌

Sharing looks good on you.

When you copy that link at the bottom and share it with a few financial planning colleagues, you look like the smartest advisor in the room by keeping them informed.

Plus, you earn rewards. Sweet.