The Better Service Blog

I attended a conference for financial planners last week and heard from a wide range of speakers.  In the space of two sessions I was reminded of how there are different ways to prospect for clients, and the importance of finding out what works for you.

Session 1 – It’s all about postcards

The adviser who spoke at this session has had a lot of success by using postcards to communicate with his client base.

He’s designed a couple of postcards with simple images on them and a quick message that may say something like “We haven’t seen you for a while. It’s time for a review”.  He posts these out to his clients at regular intervals.

He says he gets a reasonable response rate from his clients from the mailings.  His staff also make phone calls to those clients who don’t respond, and book extra appointments as a result.

He has a few different cards he uses, with some different messages.

Session 2 – Don’t write – just call

In this session I heard from an adviser who has been reviewing all his C and D class clients who he hasn’t had much contact with.  He meets with them to review their insurances and investments, and makes recommendations on how they can improve things.

This adviser doesn’t write to his clients.

He just calls them.

No letters.  No postcards.

He just picks up the phone and calls.  Cold.

And it works.

He made it very clear that he doesn’t see any benefit in writing to his clients asking for a review.  He believes it’s better to call them.

So which one is right?

I spoke with a few different advisers after these sessions.  Most advisers enjoyed the messages and were motivated to prospect more regularly when they returned to their offices.  Not many commented on the apparent contradictory nature of the two sessions.

The thing they both have in common is they’re getting in front of people they haven’t seen for a while, conducting a review and finding opportunities for new business. 

They differ in how they do it.

One swears there’s no point in writing.  Phoning is the most effective option to him.

The other believes that sending the postcards works and helps warm his clients up.

And they’re both right.  They’ve both found a method that works for them.  Importantly, they make sure they do the activity necessary to get results.  Whether it’s calling, or posting and then calling, they’re making the effort to get clients in.

I learnt a long time ago to take ideas that appeal to me and use them.  When I’m at conferences I’ll pick out ideas that I like.  I may not agree with 100% of some-one’s talk, but I can usually find something that I can use.

What about you?  What prospecting methods work for you and help you get more clients?

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