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Learn How To Write A Prospecting Plan For Your Firm

To accomplish overall marketing goals, many advisor firms need to include a plan for prospecting that includes the strategies and tactics to reach their desired results.  In our blog, “Learn The Fundamentals Needed For Your Marketing Plan”   https://aeschlapia.wordpress.com/2012/03/22/learn-the-fundamentals-needed-for-your-marketing-plan/    we reviewed critical steps to include in your plan, which are the same for your prospecting plan.

How do successful firms prospect?  Top financial advisors have one common denominator– a financial advisor marketing and follow-up strategy.   A rule of thumb to remember when prospecting is:

40% is preparation, 20% is presentation, and 40% is follow-up

Ironstone suggests implementing the following seven strategies in your Prospecting Plan

1. Provide a Personal Touch – Focus on the value and benefits to your prospects and clients.  Clients want attention and care.  Make use of public seminars to deliver solutions to clients through the benefits you can offer them.  Include hand written notes on mailings to add a personal touch that prospects will notice and appreciate.

2. Communicate Your Unique Value Proposition (UVP) – Differentiate yourself from the competition.  Keep your name in front of prospects to retain and acquire new business.  Your newsletters are an easy way to provide information about your firm or explore the potential of getting published.

3. Choose a Niche Market – Identify the clients you want to serve, you can then find out everything you need to know to dominate that market.

4. Share Your Referrals with Reciprocal Referral Partners – One of the easiest methods for receiving highly qualified referrals is from reciprocal referral partners who serve the same niche market.

5. Maintain Consistent Frequency of Follow Up – It takes about 6 – 15 “touches” for someone to start working with you. Plan a strategy that will allow you this opportunity.   You might include phone calls, mailings, emails, and events as a part of your “touches” strategy and tactics plan.

6. Leverage Your Time – The most successful advisors automate and systematize as much of their financial advisor marketing strategy as possible. Social media and e-prospecting are useful tools to employ.

7. Increase your Retention & Relationship – It is critical that you include relationship building in your plan.  Networking is the best place to start.

Remember:

  • People buy from those they know and trust
  • Prospecting is not easy unless you focus on helping, not selling
  • People who trust you give referrals
  • Referrals take the burden of prospecting off the salesperson

Ironstone will help you implement a successful prospecting plan, identify gaps in your existing plan and collaborate with you developing a solution to achieve the results you are looking for.  We will work with you on creating detailed goals that go deeper than the surface and assist you in planning the strategies and tactics needed to reach your goals.

Contact us for assistance in starting and improving your prospecting plan.

We want to hear from you!    What strategies does your firm use for prospecting?  Share your best ideas here!  We always love hearing from you!

Follow us as we explore each of Ironstone’s Fundamental 4™!

  • Strategic Planning
  • Business Development
  • Operational Effectiveness
  • The Human Element

You won’t want to miss our next in the series:  Operational Effectiveness-Service Matrix



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A Capabilities Presentation-A Vital Piece In “Selling Your Firm.” Learn How To Create Your Story And What To Include!

A Capabilities Presentation-A Vital Piece In “Selling Your Firm.”   Learn how to create your story and what to include!

 

Your aim in this endevour is to create a personalized package that outlines your client’s experiences as well as organizes and illustrates the components of your brand and service offerings.

A business card won’t cut it …. Tell Me A Story……

When a prospect or client wants to “see” what you do, you need to be prepared.   By designing a “package” that outlines your brand or unique value proposition, you tell the story of your company and explain the service offerings that can fill the needs of your potential prospects.   It is also an excellent resource that compliments your physical building, your stationary, your email signatures, and your web site.

Your capabilities presentation is more than a selling technique.   You want to explain and show why a prospect should choose you rather than another firm.  Your presentation, whether presented to a group verbally, emailed through power-point, or created on hardcopy and made into a professional folder should:

  • Establish credibility
  • Connect emotionally
  • Reinforce your position
  • Provide solutions that clients and prospects are looking for

 

Let’s look and understand the buying process:  first people “buy” you.  Secondly they “buy” your firm, third and finally,  they “buy” your product and the investment for your product.  The best way to start your capabilities presentation is to show the following:

  • Your Process
  • Solutions
  • Investment Processes
  • How You Communicate With Your Clients
  • How You Keep Clients Informed Of Current Market Conditions
  • A Historical Overview Of Your Company
  • Types Of Products You Have Available
  • Services That You Offer
  • How You Educate Your Clients On Existing & New Services
  • Your Company Vision & Mission
  • Your Unique Value Proposition

 

And last but not least, include a Call To Action.  Include a questionnaire that clients and potential prospects can complete or give them the option to schedule a follow-up meeting with your firm. Include the following questions:

  • How do our values fit with your values?
  • Have you had other experiences with companies like ours?

 

View your capabilities presentation as a key to continue in the sales process.   You want to make your best impression, consider it a resume of your firm.

 We recommend having a professional hard copy brochure or binder available that will “tell your story” as a supplement to your verbal presentation.

Contact us for assistance in following the proper steps needed for a successful capabilities presentation.  If you are having a hard time taking these steps we can support you through the design and development of your presentation and brochure.

View the following examples of presentations that Ironstone has assisted with:

We want to hear from you!  Do You Have A Capabilities Presentation?  Let us know how you use your presentation!

 

Follow us as we explore each of Ironstone’s Fundamental 4™!

  • Strategic Planning
  • Business Development
  • Operational Effectiveness
  • The Human Element

 

You won’t want to miss our next in the series: Operational Effectiveness-Staff Meetings