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GET GOOD LEADS OR
DIE!
By Forest Wallace
Cato
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Everyone knows "qualified leads are your life
blood" for staying in business and selling more of any financial product or
service! I asked eight highly successful financial services professionals for a useful
lead- generation tip you could use. Their excellent suggestions follow:
1. J. T. "Dock" Houk, JD, PhD., CPhD, is CEO
of the National Heritage Foundation in Falls Church, Virginia. Possibly more than
any other person, "Dock" closely works with financial planners regarding
foundations for their clients. "Dock" Houk reminded us: "Your present
satisfied clients are your best source for more new business. They are also likely
to be your best source for recommending other prospects for your services. This is
where you start."
2. Edwin P. Morrow, ChFC, CFP, CLU, RFC, is a legend in the financial planning
world. Morrow introduced financial planning to China, created software that improved
and advanced both practice management and client relations, and serves as President
of the fast-growing IARFC. Morrow is also one of America's leading financial writers.
He recommends, "If you do not have a lead-generating program, then start your
lead-generation program immediately! Keep your lead-generating program working continually
- every week. Communicate your special message of unique help and service to people
who need what you offer and fit within the marketing profile you target."
3. Jane B. Smith, CFP, RFC, is America's Cinderella Financial Planner. From
her office in Louisville, Kentucky, Jane recommends, "Remember what the late
Rosser Reeves taught us about having and using our USP! What is your Unique Selling
Proposition? What is unique or special about you, and your offer, or your service?
Why are you different, or better, or best? What do you offer that your competition
does not offer? Communicate this in your message to your target prospects - those
who result from your lead-generating efforts."
4. Katherine Vessenes, JD, CFP, of Vestment Consulting, in Shorewood, Minnesota,
is one of the financial industry's best-known and most-respected compliance authorities.
Katherine is the author of Protecting Your Practice. Katherine urges,
"It is not likely that you contact your prospects (or your clients) too often.
Most of us do not use the phone, fax, e-mail and postal service enough when it comes
to communicating with clients and prospects. They actually want to hear important
messages from you Mister Planner."
5. William R. Lindsey, RFC, MSFS, AEP, of the Lindsey Financial Group in Redlands,
California, observed, "Once you get a good lead you want to turn the lead into
a prospect. You do this by communicating a message that is targeted for their specific
needs and individual interest. You must indicate that you can solve their problem
or improve their situation or fulfill their needs. Before their wants you must go
through the emotional stuff. Become mutually comfortable, establish an understanding,
learn their needs, both emotional and financial, then comes decisions based on logic,
short term needs, and long-range goals."
6. Mark E. Matson, RFC, of Abundance Technologies in Cincinnati, Ohio, is
a well-established practice building coach who has helped make major improvements
in the bottom-lines for many financial planners and insurance agents by more effective
marketing. Matson gave us some important tips for this list. Matson urges, "Your
lead-generation efforts starts with your goal or your objective. What do you seek
to accomplish? Are you targeting only prospects who are retired corporate executives?
You must define your objective, time-plan, method (for generating desired leads),
and budget for this, plus allocate a period from your schedule to coordinate this."
7. Peter M. Vessenes of Vestment Consulting in Shorewood, Minnesota, is a
proven consultant who bases his success on the increased success of his financial
services clients. Peter reminded us, "Quality is more important for you than
quantity. There may be times when you need more new business and you may need this
very quickly. So you need a lead-generating program than you can shift into high
gear when necessary."
8. Mark Matson, author of Lies Your Broker Told You, also noted,
"Your first contact with a lead is an attempt to turn the lead into a prospect.
How you are perceived is very important. Ask yourself, ëHow am I positioned?' You
should not be just another impressive financial planner or insurance agent! You should
have a carefully constructed image. Media advocates and image builders work for the
most successful and top producing financial services advisors. Your image will not
take care of itself. You must project the correct image or you prospect will become
the client of the person with the more effective image."
9. Mehdi Fakharzadeh is one of the most successful insurance sales agents
in the world. He is the author of Nothing Is Impossible and Everything
Is Possible. 82-Year old Mehdi Fakharzadeh remains very active servicing
his ever-increasing number of clients. He has achieved massive heights despite great
odds against his success. Mehdi has spoken in over forty countries and presently
makes over fifty platform presentations to financial groups each year. Mehdi explained,
"Often the benefits of your product make their own best case. Accurate facts
about good products may be their own best sales pitch. You can explain the positive
differences these products make in the prospect's situation. In responding to leads,
honest and accurate product information often makes a strong appeal for you, once
the prospect understands the benefits."
10 Mark Matson again, "Remember, despite trends, economic changes, and
down-markets, direct mail continues to be an effective lead-generating tool for financial
professionals. Brief, quick-and-easy to read, convenient to respond, self-contained
formats, are proven to work best. Invite your reader to phone you, FAX you, or e-mail
you. Also invite your reader to send a coupon back to you in a self-addressed and
stamped envelope (SASA). You are offering your reader four-ways to respond to you.
Offer something free and indicate there is no obligation. Include other reassurances
like, ëNo Salesman Will Call,' and ëYour name and information will not be sold or
traded.' Be careful to target the decision maker in the first place. Take into account
key-influences on your targeted decision maker. "
About Forrest Wallace Cato: Cato's most recent books
are What It Takes To Make You Great and Napoleon Hill's Fast-Success
Profile. He is former editor of Trusts & Estates: The Journal of Wealth
Management and Financial Planning Magazine. Cato wrote the Introduction to the book
Financial Planning As I conceived It by financial planning pioneer
John B. Keeble, III, JD. Cato also wrote the Introduction to the book by Loren Dunton,
founder of financial planning, entitled The First Words About Financial Planning.
Presently Cato is Editor-In-Chief of Financial Services Advisor
an 89-year old magazine. He is also Editor-In-Chief of The Inspirator
International, the largest circulation English language magazine circulated
in all Pacific-Rim countries. He presents the The Cato Award during the annual
IARFC Conference.
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