A lot of financial advisors’ prospecting campaigns fail because they get lost in the rush of everyday activities.

After all, prospecting and referral gathering are not always high priority activities.  More typically, marketing is left to chance.

One way to overcome this obstacle is to implement short campaigns with the goal of producing more immediate results.

By the way, if you missed it you may want to take a second look because Part 1 of this series contained four proven, easy-to-implement client campaigns.

This article contains a handful of campaigns that are aimed at your current prospects.

Each idea is designed to jumpstart your 2016 results.

1. Start with daily activity: Even though you may have a database that is filled with active prospects, it can be a struggle to keep up with them. You tell yourself that you won’t allow your prospects to fall through the cracks, but the attention you give your clients is a priority. To break this habit and to give your business a quick boost you need to develop a daily success habit that focuses on your current prospects.

Here’s a three-step approach:

Prioritize your prospectsNot all prospective clients are created equally, so you need to determine which ones require the most immediate attention.  Your prioritization could be based on timing of funds becoming available, total potential relationship size or any number of other qualitative factors. 

Daily goal — Next settle on the number of active prospects you will speak with on a daily basis. This number will vary based on your business-style and the size of your book, but for most advisors this number will be between five and ten prospects.

Dedicated time block — Once you know how many current prospects you’ll be contacting, you need to set aside specific blocks of time to make your calls; it is always best to group like activities together.

“Your top prospects need to know more about the breadth of your practice, not just the depth of your current recommendation.”

2. Call your top prospects with a new idea: Once you establish a daily calling routine, you may need an excuse to speak with your top prospects. You know these folks will eventually do business, but they’re sitting on the fence; you need to give them a little nudge.

If this is the case, it’s best to call your current prospects with something different than your current line of discussion.

I am not recommending that you push a product just for the sake of a new account or a sale. You simply need to eliminate inertia. Your top prospects need to know more about the breadth of your practice, not just the depth of your current recommendation.

Match the steps outlined above in the “daily activity” process with a new idea, product or service. Often times, when you get close to securing a major new relationship, you can become overly-focused on a singular objective.

Now it may be time to change the topic by asking yourself a question, “What else should my top prospects know (or remember) about your practice?

3. The business card campaign: You probably have a stack of business cards you’ve been meaning to follow-up on. Social contacts, business connections or even personal friends with whom you’ve had at least brief conversations on the work you do for your clients. These could be great leads and now is the perfect time to reach out in search of new business.

Start by sending your business card connections a short letter noting your initial encounter. Let them know you want to follow-up; particularly given the current market environment. Include your personal bio or brochure if you have one.

Wait a week or two and then call each of your connections. During your calls, simply reference your initial business card exchange as well as your recent letter.

Be prepared with questions that would promote further opportunities to meet; uncover potential needs; or discuss how you help your clients reach their goals or how you manage money in this market.

“Now is the perfect time to reach out in search of new business.”

4. Reconnect with lost clients: Even successful financial advisors lose top clients from time-to-time. Therefore your lost clients list could also be a good prospecting list.

From being unhappy with their new advisors to realizing they cannot manage their own finances, your lost clients may now realize the grass wasn’t greener on the other side of the fence.

Start by sending a personalized “reintroduction” letter (or email). This obvious first step is oftentimes the most difficult; you need to find the right words to bridge a time gap.

Try not to let this discourage you. If available, include an updated version of your story.

Don’t assume your former clients will remember the full scope of your practice; your bio or brochure will help.

Finally, follow your initial letter with a quick phone call. You only need a couple minutes to say hello, confirm receipt of the letter, and offer your services again.

You don’t need to push, but you also don’t want your letter to seem insincere.

Please take these campaigns and put them into action in your practice. They’re proven to work and will help set you up for greater success in 2016.

If you have any questions please let me know by commenting below.

Talk soon!


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