Annuity Marketing and Safe Money Strategies

Stop LYING to Yourself, Start Growing your Practice June 9, 2010

When I ask financial professionals what’s the one single thing an FMO can do to improve and increase their business and volume, invariably the small producer says it’s helping them get in front of more people.  When we offer to help turn their business into a thriving practice by implementing systematic and sequential marketing strategies to their existing client base – you would think we offered to drill their teeth.  

Novices and “ham and eggers” think they have all their clients’ money and their clients can’t afford anything else!  These are the twin sisters of delusion. 

“When you change the way you look at things, the things you look at change.”   Every profitable business is built on attracting new customers, but most revenue is from existing customers – this is FACT!  And a financial practice is no different.  Every business depends on repeat business – even yours.  

If it’s smart business to keep your current clients coming back, then it’s not so smart to ignore then to chase after new clients.  Imagine planting an orange tree.  Next year you plant another, then another then another – and not go back to the first tree and pick the fruit that has grown.  Doesn’t make much sense – does it?  Neither does not marketing and servicing your client base.  

Remember these four truths and change your practice forever!

1 – No matter how good you are, you will not capture all your clients business on the first sale.  There will always be more business to write.  And no client worth having is dumb enough to give all their business on the first meeting.  If they are, you don’t want them.

2 – Some else is always marketing to your clients and will replace and steal your business.  Actually if you aren’t marketing to your clients, they didn’t steal it, you gave it away.  

3 – Your client is only a customer until they have purchased from you three times.  And the more they buy, the more loyal they will be and the more referrals they will give you.

4 – People’s situations change; jobs, children, marriage, divorce, homes, attitudes, and concerns.  These changes spell new opportunities for you.  The only way to know about these opportunities is to stay in touch.  

Remember – “anything will work if you do” and “most people miss opportunity because it’s dressed in overalls and looks like work”!