Why personal referrals will take a backseat to online search

06/4/2013 | Nerd's Eye View blog

Traditional person-to-person referrals won't be a major marketing driver for advisers in the years to come, Michael Kitces writes. Instead, consumers will turn to Internet searches to find an adviser. "I don't actually expect that referral-based marketing will vanish entirely," Kitces writes. "But its effectiveness is about to diminish dramatically, as the refinements of search engines rapidly approach the point where the solution that comes up in the search engine really may be more likely to be expert, credible, and trustworthy than a personal referral."

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