A pain-free GRS prospecting tip
BY Vikram Barhat | November 5, 2012
An important part of prospecting is delivering what you say you’re going to deliver, says Joel H. Rose, financial security advisor at Usefulidea, a financial and benefits advisory, in Toronto.
“[This] leads to happy customers which is always a good thing,” he says. “[Prospecting] is part of the conversation from the time we meet the prospective customer to the time they become a customer. So they’re already used to it being part of the conversation.”
Rose says it’s important to start with the right client and knowing who that client is. And if the profile of your client, for instance, is small- to medium-sized business owners, the most pain-free way an advisor can work on getting new prospects is from referrals from people who work for those companies.
“What you find when you ask for referrals is that like brings like,” says Rose. “They introduce you to their peers. It really isn’t that difficult to do. It’s a matter of doing it regularly.”
Mike LeBar, manager, business development, group savings and retirement, central region at Standard Life, recommends a similar focused approach that ensures the advisor is not wasting time chasing unattainable or undesirable clients.
“The most successful advisors target their prospects, build relationships outside of the business, and then find a supplier partner who shares the same philosophical values as the advisor and their clients,” he says. “When the metrics of target, relationship and partners are matched, the satisfaction and retention of the client, advisor and supplier is much higher.”
All businesses want new clients, increased revenue, and lower costs. And while information is so readily available these days, the success of prospecting really depends on integrating the process into the entire client experience, says Rose.
“We are in the business of getting new business, [therefore], you have to do that to grow,” he says. “If you don’t do that you’re out of business. The challenge is just to make it a habit and integrate into everything you do. That’s how we got there.”
And the sooner the process of prospecting starts in a relationship, the better. It’s not appropriate to build up to a real dramatic moment before deciding to ask to be introduced to other people, warns Rose.
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