Getting involved in the community can put you in frontof people who like you and have the potential to be great clients.(Photo: Shutterstock)
Social prospecting can be a fun, entertaining way to enhanceyour prospecting strategy. Can you build business bydoing the things you enjoy? Yes. Mark Twain said "Find a job youenjoy doing and you'll never have to work a day in your life." Butfor some reason many agents and advisors find excuses to avoidsocial prospecting.
Why do some avoid social prospecting?
Newer "avoiders" might say: "This takes money. You write checks.You take people out to lunch. I can't afford it now.Maybe I'll try it when I'm successful."
Now let's look at what successful "avoiders" might say: "Ibelong to a country club. I know everyone. They know me.I can't approach them for business because they will say: 'Whynow?'"
Horror stories: Consequences of not doing socialprospecting
I met an advisor in New York who played racquetballwith some big names in the garment (fashion) industry. Hetold me about one guy – they've been playing together forabout 20 years. But he said: "I can'tapproach him for business. He might think I was onlyplaying racquetball with him to get his account!" Seriously. After 20 years? The guy knows theadvisor is good at his job. He must be successful becausehe's been in the business 20 years.
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Bryce Sanders
Bryce Sanders, president of Perceptive Business Solutions Inc., has provided training for the financial services industry on high-net-worth client acquisition since 2001. He trains financial professionals on how to identify prospects within the wealthiest 2%-5% of their market, where to meet and socialize with them, how to talk with wealthy people and develop personal relationships, and how to transform wealthy friends into clients. Bryce spent 14 years with a major financial services firm as a successful financial advisor, two years as a district sales manager and four years as a home office manager. He developed personal relationships within the HNW community through his past involvement as a Trustee of the James A. Michener Art Museum, Board of Associates for the Bucks County Chapter of the Fox Chase Cancer Center, Board of Trustees for Stevens Institute of Technology and as a church lector. Bryce has been published in American City Business Journals, Barrons, InsuranceNewsNet, BenefitsPro, The Register, MDRT Round the Table, MDRT Blog, accountingweb.com, Advisorpedia and Horsesmouth.com. In Canada, his articles have appeared in Wealth Professional. He is the author of the book “Captivating the Wealthy Investor.”
