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You wear many hats. Sometimes you are a benefits specialist. Other times you wear your insurance agent hat. You are considered a financial advisor. You incorporate financial planning into your practice. You also wear the hat of a volunteer within a community organization. How can you get business?
You can't be heavy-handed, that's for sure. Over the years I've heard about the guy standing at the door of a church handing out his business card as people were leaving the service. I've heard about the guy who approached each of the organization's board members saying: "I'd like to look over your personal finances sometime." I've heard about the realtors who would wear company blazers to country club events. Why have I heard about them? Because people talked about them in a critical way.
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Let's assume you belong to the Chamber of Commerce, a community nonprofit, or another local organization. How can you get business? The first step is raising your visibility.
1. Don't reinvent the wheel. Find someone else who has achieved visibility. They don't need to be in the same field – it's better if they aren't! Write out what you think they've achieved and the obvious steps they have taken. Then approach them. Respectfully compliment them on their achievement. Ask how they did it. You will likely learn there are steps they took quietly in the background. You may also learn it took awhile.
2. Don't be afraid of competition. Uh oh. There's another insurance agent in the group. They may even be a benefits professional. You might think they've got this group sewn up. But there's more than meets the eye. They may have used their involvement here as a springboard to another, more prestigious organization. They might have put lots of effort in before, but are now coasting. You are the energetic new guy. They must decide if they are willing to recommit time and resources to defend their position or if they prefer to be satisfied with the business they've gotten. Even if they are a worthy competitor, not everyone in the group is their client. There's often organizational politics involved. You might pick up clients who don't want to be their clients.
3. Get to know the major players. In a small organization, you want to know everyone. Introduce yourself. Remember their names and details that are important. Interact outside the organization, like when shopping. Invite them to parties. Get to know them as people. In larger groups you want to at least know the officers and major players. You want them to know who you are, what you do and why you are good. You want to know who they are, where they work and what they do.
4. Ask the right people. Maybe you are an officer. Perhaps not. The rules say you can't put yourself above the interests of the organization, yet you know a few well-placed people who do lots of business with other members. For example, one woman might own a new car dealership. You see her name on many license plate frames in the parking lot. Ask them how you can "raise your professional visibility." They may offer direct advice or they many "know people" who are ready to buy what you are selling.
5. Get published. The organization likely has a newsletter. It's in print or online. They are usually looking for content. Be the person who writes a regular column on your specialty. This will require Compliance approval. This makes you a resource.
6. Host seminars or workshops. This can work two ways. If it's a group like the Chamber, they often have conferences with seminars. Learn their needs and volunteer to host one. If you belong to a nonprofit, they might not need a seminar on insurance or benefit plans, but they would love a seminar that supports their mission. A topic on how to contribute to charity supports their fundraising efforts. Here's the great part: A financial advisor hosting their own seminar on charitable giving, advertised through the regular channels gets a certain amount of attention. A financial advisor hosting a seminar on charitable giving on behalf of a well-respected nonprofit can get a lot more attention because the publicity is done differently.
7. Become a sponsor. Let's include advertising in this category. Your religious institution has a weekly bulletin. Great! They have business card ads in the back. Sign up for a year. People will keep seeing your name. When organizations do events, they often have sponsors at different tiers. An ad in an event program might be seen that night, but having your name on tee shirts for a charity fun run can be a different story – people save and wear those shirts for years.
It's all about raising your visibility. If people see your name often enough and know what you do, some should start approaching you and asking about business. Conversely, when you approach business owners, it's no longer a cold call but a warm one.
Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, "Captivating the Wealthy Investor" can be found on Amazon.
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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.”
