What’s the most important element advisors need to build their practice? Each year in our annual Advisor Survey the answer is always the same: generating new leads. You’re in good luck this week, because over these next five days, you’ll see 50 of the best ways to generate leads. Thanks to all of you who submitted ideas and good luck this year in reaching your sales goals.
50. Write a referral sales plan.
When you receive a qualified referral, you are pre-sold, have trust and credibility, shorten your sales process, reduce your cost of sales, and gain a new client more than 50 percent of the time. No other lead-generation strategy comes close to these results. Write your referral sales plan with weekly referral goals and a tracking process to measure your referral-selling success.
49. Stand out from the crowd.
You’ve got to have an idea and presentation that really stands out from the clutter. To achieve that you’ve got to test it in small numbers and, when you find something that works, send it out more broadly.
48. Keep in touch.
I send birthday cards to my clients’ kids, and call them myself. It goes a long way toward getting clients to think of referring you to family and friends.
47. Advertise selectively.
Your name and what you are offering will be heard or seen by thousands of individual prospects. Couple this with your involvement in community activities and you will develop immediate recognition. When you speak to people, it will be on a warm, friendly basis.
46. Engage in good deeds.
Providing community service and gently letting people know what you do can help create leads that can grow a business.
45. Use co-registration.
Internet leads also can be attained through co-registration, where a senior may be looking for elderly housing, for example. He fills out the elderly housing online form, which then prompts him to check any number of other boxes for products he may have some interest in, such as LTCI or annuities.
44. Use the 40-40-20 rule.
Forty percent of the success of your promotion comes from attacking the right market with your list. Forty percent of your success is from the offer, or the hook, that grabs your readers. But only 20 percent of the success depends on the look of your promotion. Don’t worry about artistic perfection — results are what count.
43. Keep it dynamic.
Dynamic revolving content: simply adding a teaser headline to our content increased our response rate by 0.5 percent. This may not sound like a lot, but when you send 20,000 pieces of mail a month, it means getting in front of 100 more people. Adding this concept to your marketing strategies does everything from increasing web traffic and response rate on direct mail pieces to branding yourself as an expert in your community.
42. Target your audience.
I have found I am most effective with women. So I developed a plan to do something fun with the women in my database and encourage them to introduce me to their friends. I don’t like asking for names during an appointment; instead, I developed the idea of hosting a tea during the birthday month for my women clients. I explain that we are celebrating their birthday and ask them to bring someone who would benefit from meeting with me.
41. The big picture.
Annually, I try to take my clients to dinner at a nice restaurant with my wife. We get a good picture taken, then go to Costco, have it printed on a 4-by-6-inch paper and use a stock frame. If there are children I will send them one also. It is not unusual for the client to ask for copies, which I happily provide with a label on the back for who to call for more.