Easy Way to Attract New Clients
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Attracting the attention of enough prospects is tough. For some financial advisors, especially those who are new, it can be the toughest part of the job.
When your prospect reservoir is running dry, sales activity decreases and sales results drop. This often causes anxiety and growing frustration that can affect your relationships with clients, co-workers, friends and family.
Two obstacles that hold many financial representatives back are
- A limited sphere of personal influence and
- Not developing a reliable way to attract the interest of people when engaging them in initial conversations.
The good news is there is a proven way to begin refilling your prospect reservoir with more qualified prospects.
To attract more prospects, we will consider two different scenarios and provide examples of what the conversations might sound like. In the first, you have decided to grow your sphere of influence by hosting an educational lunch-n-learn. In the second, you have volunteered to participate in a Habitat for Humanity build. Both are proven activities that put you in touch with new people. One takes an investment of time and money. The other requires an investment of time. In both you are giving… before asking to receive.
In either prospecting scenario you will want to keep these principles in mind.
- Listen & Evaluate Attitudes. Not everyone is a prospect. Very often you can disqualify a potential prospect in group conversations without ever having to say a word. There may be financial, health related or relationship circumstances that would make it a poor time for you to approach this individual as a prospect. Regardless of the reason, move on and spend your limited prospecting time meeting others.
- Be interested. When meeting a new person at a lunch-n-learn before the speaker begins, ask them a question related to the topic, or how they know your client. If after the presentation, ask them their opinion about the topic, or for their reaction to a specific tactic or strategy mentioned by the speaker.
- Be interesting. Use the CAPS™ Supporting Skill to reinforce attitudes that provide reasons for a follow-up one-on-one meeting with you. Use this opportunity to inform the person why, or how, they might benefit from a follow-up conversation. Use the CAPS™ Probing Skill to better understand the person’s point of view if they seem Indifferent or Doubt something that was said.
- Close. If your objective is to schedule a Connect conversation with a person, the best time to do it is now. If at a lunch-n-learn, you might suggest a meeting that includes the person who invited them. In either scenario, meeting for a meal or stopping by your office for a cup of coffee are great ways to launch a productive Connect conversation.
Lunch-n-learn Scenario
You have invited a number of clients and asked them to bring a guest with an interest in the topic. You have three objectives at the lunch-n-learn:
- Provide valuable information,
- Thank your clients for choosing to do business with you,
- Influence the people you meet to schedule a Connect conversation with you.
The topic of the meeting is Maximizing Social Security Benefits. Your client’s Michael and Lynn, invited Mike’s younger brother and spouse to attend. You met them before the speaker began and learned that Bill and Jan are in their late 50’s and both retired government employees.
When you approached them, Bill was saying, “Mike I’m really interested in what the speaker has to say today. One of my golf buddies was just telling me about a talk his advisors sponsored and that he learned a few things.”
Mike replied, “Yea, I hope to learn a few things today myself.” And then he turned to you and said, “We appreciate the lunch invite, I’d like to introduce you to my brother Bill and his wife Jan”.
You reply, “Glad that all of you could join us today. Bill, based on what you heard from your golf buddy was there anything in particular you hoped to hear the speaker comment on in his presentation today?“
Bill replies, “As a matter of fact there is. Jan’s first husband had a pretty good job before he died about 15 years ago and we are wondering what options that gives her for collecting social security.” You respond, “That’s an important consideration that could make a meaningful difference in the amount of social security benefits she’ll receive. I’ll ask the speaker to address that today and circle back with you when he’s finished to see if you have any other questions.”
After the talk you approach Bill and Jan with this Open Probe: “I’m glad our speaker was able to touch on your question as part of his talk. What’s your opinion of what he had to say?” Jan replies, “Well we learned a few things but it looks like we will have to dig into this a little bit more before deciding what to do.”
You decide to Probe again to let her know what she said was important and to gauge her level of interest by saying, “Then you feel you will benefit from some more analysis?”
Jan replies, “Yes, we’ve paid a lot of money into social security over the years and we want to get as much out as we can.” You decide to Support this comment and Close by saying, “That makes sense because some of the Social Security decisions you make can’t be changed. It’s a good idea to have professional analysis done so you can make prudent decisions. By the way, this is one of the way’s we help our clients make the most of their social security and retirement savings. Is there any reason you and Bill wouldn’t want to meet at my office next week so we could get better acquainted and help you begin this analysis?”
Habitat Build Scenario
While working on the build you met Jack, a widower in his mid 60’s. After getting to know him, you decide you’d like to schedule a Connect conversation.
Over the course of the days you’ve worked together you’ve learned a few things about Jack. He served in Vietnam and after getting out of the service he went to college on the GI Bill. Jack and his wife built a profitable machine shop business after he finished college.
He and his deceased wife had 3 children who are all grown. Lou and Sheila are married and Tony is divorced but in a serious relationship. Lou and Sheila both have successful careers and Tony is in business with Jack. Jack also has 5 grandchildren.
In one of your conversations Jack mentioned that an older brother recently died. He too owned a business. After he passed away Jack’s nephews got into a big fight because his brother’s business was left to the oldest nephew and the two younger ones received very little. This bothered Jack a lot because his brother had named him the executor of his estate.
You decided use what you learned as part of a CAPS™ Transition statement to see if you could interest Jack in getting together when the build was completed.
Sitting down for a break you opened the conversation by saying, “Jack, I’ve really enjoyed getting to know you better these past few days. Something you said got me to thinking. You told me how uncomfortable it was for you when your brother died and his kids received different amounts from his estate.” (slight pause)
Jacks slightly nods his head so you decide to continue your Transition by saying, “Estate liquidity planning is one of the services I provide my clients so they can equalize the value of the inheritance for all their children.”
Then you finish what you have to say with a Closed Probe to set an appointment. “How would you feel about getting together sometime the end of next week so we could figure out if building a plan like that makes sense for you?”
Jack replies, “Well I don’t know about that. My son Tony has busted his butt working with me all these years and I’m not sure the other two kids deserve as much as he get’s when I pass away.”
You sense his Indifference so you decide to Probe to show that you’ve heard what he’s said and to get a better understanding of his feelings by saying, “Then you feel it’s important for Jack to get more than the others because he’s worked beside you all these years?”
Jack replies, “Yes that’s part of it and besides the business makes up such a large part of my estate, there is no way I could ever save enough to leave as much to Lou and Sheila.” You decide to Probe again by asking, “Then you feel you’d like to leave something to Lou and Sheila but it’s most important to leave the business to Tony, is that right?”
Jack says, “Yes I guess so but I’m concerned about his judgment when it comes to women.” You decide to Probe by saying, “Oh?” He goes on to explain how Tony has been married once before and how it ended badly. Jack adores both of Tony’s kids but he doesn’t want his ex-wife, or at this point, any future wife ending up with any ownership in the business. You decide to Support Jack’s concern and Close by saying, “Jack it makes sense to be concerned about having a plan that keeps the business with Tony and out of the hands of outsiders. One of the financial services I provide my clients is helping them develop a plan to pass the property they want, to the children they want, when they want. They benefit because the business stays in the family and out of the hands of outsiders.”
You pause for a half-second to read Jack’s body language and when he leans in slightly you decide to Close by saying, “How would you like to stop by my office next week for a cup of coffee so you can tell me more about your plans and I can show you more of the kind of work my team does to help business owners like you keep the business in your family and out of the hands of outsiders?”
We encourage you to keep these thoughts in mind as you work to attract the attention of more qualified prospects.
In the CAPS™ Skills workshop you learned proven patterns of language to attract and keep the attention of qualified prospects. When used correctly, and with the right kinds of activity, more of the new people you meet will become interested in talking to you. You can count on them to refill your prospect reservoir and keep it full because they are proven to grow your sphere of personal influence and gain the interest of more qualified prospects.
- Listen – Always be listening & evaluating attitudes. Respond using the appropriate CAPS™ Skill
- Be Interested – Listen first and respond to what is said
- Be Interesting – Support positive attitudes with information that illustrates how prospects benefit by meeting with you, or Probe for meaning to fully understand the other person’s point of view if they are Indifferent or Doubt your ability to help them
- Close – Schedule a follow-up meeting now. It’s easier than trying to get someone on the telephone or return an email at a later date.
