Stop Hunting
Jerome Myers is a philanthropist, impact entrepreneur and game changer. Jerome has developed something very special in enabling others to achieve levels of success they never thought possible. You will highly likely have your current mindset challenged in this article.
Attracting more of the high value clients for your business that you enjoy working with is a quandary so many service providers are seeking. For most it is elusive and seems to only happen by chance but when you peel back the layers it isn’t as complicated as it may seem.
So how do you skip through the maze of waste and attract more of your ideal clients?
If you don’t know what you want how can you get it?
Most of the time people have not taken the time to identify their target client.
Unless you have unlimited resources and just want to play the numbers game then narrowing your focus is core for your business success. When I spend time with wealth managers discussing the types of clients that bring them the most joy to work with, they often describe people who:
- Immediately value their expertise
- Are coachable
- Actively seeking guidance
- Pay promptly with joy
- Shares similar morals and values
- Proactively recommends others
- Makes definitive decisions quickly
Unfortunately, these characteristics aren’t something that you can type into a data provider and get a list of names, phone numbers and e-mails so that you can schedule a meeting with these folks.
So how do you find them?
You don’t… They find you.
Jerome is a top coach for financial advisors and acts as a coach for wealth managers also. He is making huge breakthroughs in this industry. Jerome knows how to be found by prospective clients.
Make yourself easily findable.
Your ideal clients do not want to be hunted down by you… they want to find you, and this is the most important step to creating the practice you dream of.
- Create content (social media posts, emails, blogs, videos, graphics) about the pain points they are trying to avoid
- Discuss the bad things that can happen if they don’t take action
- Explain how their social status will improve by working with you
- Call out their perceived villains
- Validate their personal values and struggles
- Paint a vivid picture of life on the other side of taking action
Study the market
Are people already selling what you have? If so, what are they doing to acquire new clients.
- Are they a member of the local country club?
- Do they go to car meets?
- Are they on volunteer boards?
- Do they go to certain fundraisers?
- Do they have media appearances?
Now how can you position yourself and your brand right alongside theirs so that people have an opportunity to choose.
Raise your prices.
Yep… Price them out. You don’t want them as clients.
When we are trying to grow many times, we think price is our biggest barrier to getting new clients. Unfortunately, this is a trap that most business owners fall into. Price is never a problem. The perception of value is what prevents people from purchasing and we have found that the fastest way to impute value is to raise the price.
Imagine a luxury item being marketed for the same price as a discount brand.
How could it possibly be better?
If you can’t answer that question neither can your ideal clients and a confused potential client always says, “No.”
Focus on your differences.
“Why would on Earth would I do that??!”
Because differences are what your ideal client is looking for and if you can present them in a positive light, you will attract more people than you can work with. For a lot of wealth managers, they do not feel like they are different. They have the same products, same analytical tools, same licensure, and same certifications.
But do you have the same values, same approach to serving your clients, same personality, and same level of customer service?
If you are still stumped ask your top clients, why they chose you and continue to stay. In most cases they will be able to point out what differentiates you with little effort. Then you can take that and make it visible to the marketplace.
By fully uncovering and embracing your differences, presenting them to your ideal clients in the places that they spend the most time you will grow your practice exponentially.
Just think what you could do if your clients were coming to you ready to buy versus you feeling like you are hunting them.
Something to think about?
