1. The document provides tips for financial advisors on implementing an effective referral marketing strategy through relationship building activities. It recommends identifying target audiences, defining activity objectives, and determining appropriate marketing activities. 2. A 4-step best practice process is outlined: 1) Identify target audiences of clients and centers of influence, 2) Define activity objectives such as relationship building or education, 3) Determine activities like networking events or appreciation luncheons, 4) Monitor, measure and repeat proven activities. 3. Examples are given for client-focused and center of influence-focused activities, including networking events, thank you letters, case studies, and check-in calls. Tracking referrals is advised to evaluate what works best

1. Referral Marketing
Best Practice Ideas
Build Through Referrals I Practice Management
128485 04/27/15
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Page 1 of 4
1 Genworth Practice Management Insights Study, 11/2013
Referral marketing is intended to deepen
key relationships and encourage quality
referrals. It also can be a great opportunity
to educate, especially around your value
proposition, processes and target clients.
These marketing activities can be defined
and included in your marketing calendar.
A best practice is to define marketing
activities as automated or personalized to
understand your personal investment in
time. Often best marketing activities are
repeatable which also means that simple
is important.
A clear process can be important to gain
quality referrals. Consider this 4-step process
to help you create that discipline in your
business.
4-Step Best Practice Process
to Maximize Quality Referrals
A. In-person (i.e. luncheon,
networking event, etc.)
B. Email, Phone or Mail (Newsletter,
check-in call, case study)
3. Determine marketing activity
A. Relationship-building
B. Educational or informational
2. Define the activity objective
A. Clients
B. Centers of Influence (COIs)
1. Identify target audience
A. Track whether new clients come from
referrals and from whom
B. Repeate proven marketing activities
4. Monitor, measure, evaluate
and repeat
Top producers report that
over 80% of their business
comes from referrals and they
receive 25%more COI
referrals from COIs than
from all others1
.

2. Jot down your target audience for each marketing activity:
Marketing Activity:
1
2
3
4
Target Audience:
1
2
3
4
1. Identify target audience
It can be a good idea to start by defining your target
audience for each marketing activity. Do you want to
focus on top clients (active) or do you want to develop
clients who have not referred to you (dormant and
reluctant)? In either case, consider “bring a friend”,
to in-person events since that can be a great way to
engage with potential clients. Also consider where to
combine clients and COIs for certain in-person events.
While COIs play an important role in referrals, they
can be overlooked in a structured Marketing
plan. It can be a good idea to segment your COIs
by marketing activities just as you might with your
clients. You may want to define your COIs by
those that are active and those that you would
like to develop.
2. Define the activity objective
Although most marketing is intended to develop
relationships, some activities are designed to
educate or inform. It’s a good idea to determine
which activities will be exclusively focused on
building relationships and appreciation and
which will be designed to add value by providing
educational content. This differentiation can be
particularly important for the communication and
promotion of in-person events. Mixing messages
around activities can lead to mistrust which is why
you should consider defining the objective of the
marketing activity.
Jot down your objective for each marketing activity:
Marketing Activity:
1
2
3
4
Activity Objective:
1
2
3
4
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3. Clients and Centers of Influence (COIs) Activities
Networking Events:
These can take several forms including a lunch, happy hour or dessert hour. It’s a good idea for these to
be informal and “bring-a-friend/colleague” to help clients and COIs expand their networks. Thoughtfully
planned, these can be combination events designed for clients and COIs.
Year-End Thank You Letters:
Year-end thank you letters are a good way to show your appreciation for their continued support.
Handwritten notes get noticed.
Organization Participation:
Joining select industry, professional, charitable or community organizations can help position you as
a trusted resource and as a partner. Your involvement should be consistent and genuine.
Client Activities Centers of Influence (COIs) Activities
New client luncheons:
These events can help familiarize new clients with
your practice, develop a comfort level, and educate
them. This can be a good time to share your referral
process and your target client profile.
Professional development luncheons:
These can be a great way to bring value to your
relationship. Engaging a speaker (local professor,
industry organization board member, etc.) can
bring insight on an important industry topic.
Special occasion luncheons:
Birthday, anniversary, retirement, special occasion
or an appreciation luncheon can be used to show
clients that you value them. Consider small special
touches that can create conversation. Some of
these events can be designed to have the client
bring their friends.
Appreciation luncheons:
This can be focused on one COI at a time or a
small group. They can be as simple as providing
box lunches to key CPAs during tax season
to a one-on-one lunch.
Quick check-in calls:
Touching base with top clients can help develop
relationships. These calls can help identify changes
and needs and can be focused on family, lifestyle
changes,and fun happenings.Scheduling several calls
weekly can help promote a client focused culture.
Monthly check-in calls:
Monthly calls to enhance COIs’ comfort level with
your business and processes. This can be also a
key touch point to understand how you can help
your COI.
Referral update:
A high level referral update can be a good way
to encourage your clients’ referral behavior.
Weekly referral update:
A weekly referral update can help build trust and
comfort. It can be a good idea to provide your key
COIs with a simple report of activity on their referrals.
High level case studies:
A high level case study presenting a challenge
that clients may face can create opportunities for
discussion and provide alternatives. They are also
a good way to show your expertise.
Client solution case studies:
Case studies can provide education and help
create sales positioning ideas. They can help
professionals understand or identify client
solutions.
3. Determine Marketing Activity
Consider these types of activities or others that you think would be beneficial:
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4. This material is for informational purposes only and is meant to illustrate some of the best practices that may make
building your business more effective. These practices are based on Genworth research and the real life experience
of the individuals interviewed. The use of these practices or tools is strictly voluntary and is not required by the
Genworth companies. The information provided is for your own practice management purposes.
Remember to always follow your firm’s policies and procedures regarding thereviewanduseofthird-partytemplates,
whencreatinganddistributing materials for clients and prospects, hosting client/prospect events, giving gifts or
when offering giveaways or prizes.
©2015 Genworth Financial, Inc. All rights reserved.
4. Monitor, measure, evaluate and repeat
It can be a good idea to monitor your marketing
activities and keep track of which ones generate
more referrals, help develop stronger relationships
or additional sales. Proven marketing activities are
often worth repeating.
Keeping track of whether new clients come from
client or COIs referrals can help inform whom to
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include in which marketing activity. Educational
opportunities around your target clients and the
best referrals can be identified through your
tracking as well.
Developing strong relationships with key clients and
COIs can lead to more quality referrals.
Monitor your proven marketing activities:
Marketing Activity: Result: Repeatable? Yes/No
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