How to Master the Art of Selling Financial Services. Tom Hopkins

lot of people. They are aware of information you probably will never acquire. For example, he or she might have heard that Mr. Monroe down at Acme Deluxe Manufacturing has just gotten a promotion and a substantial bonus. He and Mrs. Monroe might just be in the market for a solid investment in which to put that new money to work.

      The Three-Foot Rule. Consider anyone who comes within three feet of you as a potential client or referral base. I’m serious. It’s part of the here, there and everywhere philosophy. If appropriate, strike up a friendly conversation and within it roll out your 30-second commercial. You’ll be surprised at how many people need or know someone in need of your services.

      The Internet. Reach clients by reaching out through the Internet. You can quickly and easily acquire an amazing volume of infor­mation on virtually any subject by logging online and tapping a few key words into your computer. You can thoroughly research entire industries, specific companies and organizations, and even individual officers of a corporation all from the comfort of your office.

      Reach out through the Internet by creating your own web page so prospective clients can quickly and easily research and contact you. When you set up your web page be sure to reference it every­where you can— on your business card, letterhead, advertising, signage, public relations efforts and so on. Make it easy for people to find you.

      Signs. One of the best places to advertise to a captive audience, and I really mean captive, is on your automobile. Think about it. When you’re stuck in freeway or highway traffic what do you have to look at except other cars? Well, the people in those cars you’re looking at just happen to be looking back. Why not give them a little reading material to break up the monotony? Those metallic advertising signs that slap against your car door are economical and easy to acquire.

      I’ve found sources for all types of products and services while sitting in my car. Imagine if someone needing your product or service looks out his or her window to see your name, your company name, address, e-mail address, and phone number and the fact that you just happen to have the solution to the financial question they were just pondering. That little sign stuck to the side of your vehicle could easily be the cause of a new client becoming “stuck on you.”

      Emerging technology. Some years ago companies prospected by mailing printed brochures. New and affordable technology a r rived and many of those companies began sending out “brochures” on video tape. Then CD and DVD “brochures” became the rage. The Internet has revolutionized the way many companies and individuals conduct business. Many are prospecting through web pages and e-mail campaigns. These are all valuable and proven tools for prospecting. Use them when appropriate for your marketing needs. And realize that some other new technology is currently in development. When it arrives, use it if it’s right for you.

       Create A Network

      A network is a group of individuals who help each other achieve their individual goals. I help you get where you want to go in business and you in turn help me get where I want to go. That help can come (and probably will come) in many forms.

      For example, you may be new to setting up your own business and need the advice of a professional lawyer, accountant, real estate broker or any number of suppliers. One or more people in your network can probably make a few solid recommendations. You don’t have to reciprocate in kind either. Later on that person may require help writing a speech for his or her business-contact group. If that’s one of your areas of expertise, jump in and offer to help draft the speech. The point is to help each other in whatever area each person needs that help as long as you both know why you’re doing it.

      It’s important to think of your network not so much as a mutual aid society, but more as a group of on-going relationships. It’s not a matter of “I owe her because she helped me.” It’s “how can I help you…what do you need…what can I do for you.” As with anything else, the more you put into the effort the more you will get out of it.

      If you don’t have a network, create one. It’s fun and you get to meet a lot of great people in the process. And don’t limit yourself by in-the-box thinking. Just because financial services is a white collar industry, don’t think you can’t have blue-collar members in your network. The mechanic at the automobile dealership, your mail carrier and people in any number of occupations you can name can all help and be helped by your network.

      Once you’re in a network remember success depends on mutual cooperation and support. It’s a two-way street in which you give as good as you get. Share the wealth of information, leads and contacts and you will reap the wealth of information, leads and contacts. Here’s a sample scenario between you and Joe, the service technician who maintains your copier.

       Joe: “Okay, Mrs. Henning. I’ve given your copier the full once-over, changed the toner and tightened a bolt here and there. It’s good for another hundred thousand copies.”

       You: “Thanks, Joe.”

       Joe: “I appreciate your business. How are you doing?”

       You: “Fine, just fine. But I’m always on the lookout for new clients to serve.”

       Joe: “That reminds me. We just got some good news. My sister and her husband are having another baby. I know they’ll be needing more life insurance and I’ll bet they haven’t even thought about a college fund yet. I know they’d be inter -ested in talking to you.”

       You: “Would you mind giving me their full names and phone number?”

       Joe: “Sure thing and give me one of your cards to pass along to them. I’ll be seeing them later this week.”

      There’s one last area that applies not only to “all of the above” topics, but really to all topics, your entire career. It’s the matter of trust. People will not do business with people they do not trust. Yes, people get snookered all the time, but how much repeat business does the dishonest person get? How many referrals does he or she earn? And consider the effect of word-of-mouth on that person’s future transactions, business and livelihood. People talk and word always gets around. When you cheat someone, the biggest victim is yourself. Build trust and you will build business.

      You can’t earn trust by being ethical during church or at the synagogue and then breaking the rules at work. Hypocrites do not do well in this business—not for long. Earning trust is more than a process—it’s a lifestyle.

      In my book Sales Prospecting for Dummies® I devised an “Ethics 101” test. I’d like you to apply that test whenever you face something that might challenge your trustworthiness. I promise, it will help keep you on the right path.

       Would I want someone to do this to me?

       What would I do if someone did this to me?

       Can anyone get hurt if I do this? Who and to what degree?

       Can I look Mom and Dad/the preacher/my mentor/ my kids in the eyes when describing this action?

       Would I be proud to see this on tonight’s news program?

      When so challenged, think about it, even for a few seconds. Think like a champion and you’ll know what and what not to do.

       Target Your Target Market

      Often the here, there and everywhere potential clients create a serious and daunting challenge. Narrowing your focus so you can concentrate on a specific, well-defined target market is one way to make sure you’re seeking only the best and most potentially rewarding “turf.” Here’s a simple process to do just that. It works equally well for individuals and organizations.

      Begin by listing your top 25 to 30 clients. Look for commonal­ities among them such as age, income level, education, financial needs, probable needs in the future, ethnicity, hobbies and interests, and so on. Once you’ve completed the exercise, see how well they match up to your own profile. Note any common patterns.

      Analyze