What’s the best way to prospect for new clients? Focus on keeping it simple.
- Mike McGlothlin
- 09/17/2019 08:00 AM
Prospecting is the most difficult task when it comes to building our business — especially if we’re trying to figure out how to do it with more clients.
I was reading a book over the weekend called The Distraction-Proof Advisor by Paul Kingsman. He talks about how he prepared for the Olympic Games. As a swimmer, he said, training was simple, but it was not easy. A lot of people ask me, “How can I make prospecting easier?”
The answer is that we need to shift our focus like Paul Kingsman did. We need to talk about simplicity, not about making it easy. Paul talked about how training was simple. He had to be in the pool a certain number of hours. He had to lift weights a certain number of hours. He had to eat right to fuel his body. That’s not easy. But it is simple.
The same is true with prospecting. Let’s think about how we can make it simple. There are three steps to take:
- Referral Track: The first step is to really have a good referral track for every appointment — and for every time that you give someone value. Getting a referral isn’t just asking for the next person. You must have a real, clear image about who you want to build your business with over the next 10 years and you need to be able to paint that picture for the person you’re talking with. They need to be able to visualize your next-level referral.
- Automation: We have hundreds and hundreds and hundreds of email addresses. They largely go unused. We need to make sure that we are implementing nurturing campaigns for existing clients to take them to additional products and additional services. For most of our clients, the first few products we showed them didn’t meet their needs. We persisted until we found the right solution. As financial professionals, we need to continue to nurture those relationships, to get more ingrained with our clients and continue to provide solutions.
- Technology: You may think that technology and automation are the same. I disagree. I consider automation the process. Technology is the tool to keep your client focused on you. How many times have you gone to or conducted a seminar and not been able to get the number of appointments you wanted? And, at the same time, not been able to get the clients back into the office? It makes holding a seminar seem like a waste of time and money. But today’s technology can change that. Now, consider employing geofencing to target your attendees. For 30-45 days following the seminar, they’ll receive targeted advertising reminding them of the problem that is still unsolved. And reminding them that you have answers.
Use the next week to focus on developing a solid referral track, learning about how automation can help nurture client relationships and using today’s technology tools to enhance your reach.
Keep it simple.