Client prospecting is essential whether you are a new bee in business, or a seasoned player. For some, cold calling is the key, while for others they stick to referrals only. Whatever it may be, you need new clients for Sustainability as well as Scalability. You may have a thousand clients, but there goals will mature, they will die, so for growth, for ensuring that your business continuous even after you, you have to put in extra efforts and identify the next set of people who will be taking over. Client prospecting is a never ending activity, and in this passage we are going to share with you some techniques which can be helpful in getting more and more clients on board.
> Set acquisition targets:Although most advisors have client acquisition activity on top of the hit list, but they do not have clear acquisition targets. So, the first step would be to define your near term as well as macro client acquisition goals. Write the goals down and regularly review your progress, target setting will give you a sort of sense of direction. You will know exactly when you need to gear up, put in extra efforts to meet your targets.
> Everyone you know or meet, must know that you offer financial advisory services. Have a few business cards stacked in your wallet always, to hand out to people you meet. This is a very important activity, especially in the initial years of your advisory career, you need to build plenty of contacts.
> Find your Niche: You can start researching from your existing client base, the ones whom you are most comfortable working with as well as the other way round. Identify the common characteristics, it could be age, education, income, profession, goals, etc. These are the people who keep you going, who make you want to get up and work everyday. Create a differentiation strategy for catering to this set of people, since you understand their unique needs and have the most appropriate solution for those needs. And then develop a strategy to garner similar people into your client base. These people can also be your jackpot to referrals. Your core strength, that is the way you connect with this target segment, topped with with your marketing efforts, can help you build a strong client base, a set of future clients whom you'd love working with, and serve them better.
> An inevitable strategy for client prospecting, is constantly upgrading your knowledge. You should be like a powerhouse of information, don't mind giving away a bit of free advice, if it helps the listener, he will come back to you. People seek advisors who have knowledge of the markets, products, who are familiar with the latest updates, happenings in the economy, they want someone who can help them select the right products, who can guide them through difficult market situations. Just think of this guy in your circle, who is associated with let's say a spiritual organization. He is always talking about spirituality, good deeds, helping people in trouble by advising them the right solutions, counseling people, and other people getting attracted towards his conversations for they respect him for his knowledge, they seek solutions to their personal problems within those conversations, some even end up join him. Be that guy, read a lot, gain knowledge and share that wisdom.
> You must be Visible: The propaganda on Mutual funds, frequent Ads from AMCs and even AMFI, has led to investor curiosity, investors want to know about Mutual Funds, which schemes are most suitable, people are also looking for a trusted mutual fund distributor who can guide them in scheme selection since there is a whole universe of MF schemes in the market. So, you must make sure that demand meets supply, be available and active, especially on social media platforms, other media platforms like quora, linkedin, local groups, etc. The seekers must be able to find you.
> Take care of the content you are marketing: People are seeking more than just returns, from their financial advisor. Investors look for a person whom he/she can trust, and considering so many instances of mis-selling in the financial services industry, investors look for someone who is honest and ethical and would recommend investments based on his/her needs and not his own commissions. So, your marketing strategy, your website, your visiting card, your business' tag line, all must convey the core values you wish to communicate.
To conclude, there is no one size fits all formula to get new clients on board, create your own approach to client prospecting, based on your strengths, business values, experience and instincts. A combination of the above mixed with some your own unique practices, can you build a perfect client acquisition model.
{s}
[[script type="text/javascript"]]
$(document).ready(function(){
new DiscussionBoard("divDiscussionBoard", "1173", "http://www.njwebnest.in/esaathi/index.php/discussion").load();
});
[[/script]]
{/s}
