The Center of Influence definition is marketing to key people you can rely upon to help grow your business. As a financial advisor, your Centers of Influence (COIs) may include CPAs, attorneys, trust underwriters, mortgage professionals, and more. These are professionals who refer their clients to you and that you are happy to refer your clients to, as well. So what should you look for with your center of influence prospecting? Whether your advisory is considering bankers, insurance agents, or corporate executives as potential Centers of Influence, they must meet specific criteria.

Successful centers of influence for financial advisors:

  • Know and interact frequently with numerous potential clients for your advisory
  • Willingly talk to potential clients about how your advisory can serve them
  • Are respected not only in their industry but also for their sound advice  
  • Can benefit from a mutual relationship with your advisory

Like any successful marketing effort, center of influence marketing requires a strategy. If the only time you focus on influencer marketing is when an interaction with a potential influencer reminds you, your ROI will be nonexistent. To harness the power of centers of influence marketing, your strategy must be intentional and a regular part of your marketing efforts. 

So how should you market to these key players?

When marketing to, and meeting with, your Centers of Influence, try to focus on them and how their business is growing. By creating a harmonious, mutually beneficial relationship, the relationships between you and other professionals will continue to grow. Take the time to schedule a casual lunch, or host a meet and greet with your Centers of Influence and clients so they can see who they could potentially work with. These little touches will set your Center of Influence marketing in motion. Then it’s a matter of finding more Centers of Influence and cultivating your relationships to help create a steady stream of new clients.