By Ashley Cloninger

1. Know your Market

Focus and identify your prospects. This sounds simple or common, however, it is just what works. Once you identify your prospects, you can begin building a relationship. With a narrow group of people, you and/or your staff can take the time to do background research on each person – what do they want and value? This will guide your marketing strategy.

2. Build Relationships

Literally dive into the “Know Your Client Rule”. This SEC ruling basically states that it is a requirement to know and keep records on the essential facts of each customer, as well as, identify each person who has authority to act on the customer’s behalf. Start by connecting with your clients and prospects on social media and be invited to peek into their daily lives. This will allow you to get to know them and how you can better serve them.  

3. Keep it Personal

Let your clients know you care by providing handwritten notes, birthday and thank you cards to incorporate genuine unexpected random acts of kindness throughout the year. Send a sympathy card with a laminated copy of the obituary if they lose a loved one.  In the age of the lost art of handwritten notes, this form of contact generates clients talking and passing along how kind it was of their advisor to think of them.

4. Measure Activity

Update a spreadsheet weekly to monitor your metrics.  Key items to track:

•Prospects with possibility of incoming average revenue
•Number of Financial Plan Clients
•Clients and Average Revenue of Client

5. Ask for Referrals

During your meetings or review with clients, do not be afraid to ask for referrals!  Most often, your client knows someone within his or her same niche who could benefit from your services.  A referral is the greatest compliment you can receive!