How'd you like to pay $0 in marketing costs for your next financial planning or insurance lead? That's right, no telemarketing costs incurred marketing to your existing client base or leads that you've paid for or clients that you've purchased.
Speaking of books of clients that you've purchased, just how much did you pay? A multiple of 2 times? 3 times? Surely not 3.5 times? In this market?
How'd you like to pay a multiple of 1 times for your next client base if not less?
This is the reality that financial planning and insurance professionals are creating for themselves by asking the right questions.
It is the people that they are posing these questions to that delivers this reality.
They are conversing with and engaging their existing client base.
Pay $0 for your next financial planning or insurance lead
Pick your top 25 clients and ask:
1) Who do they work for?
2) What community or social groups do they belong to?
3) Who do they employ?
4) Who are the related to?
Let's start with who do they work for or who do they employ.
If they are employers themselves - what about that pay packet they pay staff - (that their staff rely upon) - it can be taken away from that staff member in an instant should that person be unable to work due to illness or an accident away from the workplace. Is that something they as an employer thinks is in the interest of the well being of their staff and is a positive outcome? Of course not.
If they are employed. Contact that employer. Offer that employer a free statement of advice (financial plan/insurance recommendation). Why? So they can experience the service and outcomes that one of their staff has experienced. And upon experiencing the positive outcomes and process - should that not be something of value they could expose the remainder of their staff to?
Pay a multiple of $1 times for your next client base
Pick your top 25 clients and ask:
1) Who do they obtain accounting and business advice services from?
Contact the accountant and yes offer that accountant a free statement of advice (financial plan/insurance recommendation). Why? So they can experience the service and outcomes that one of their clients has experienced.
Maybe they won't buy in to that process that easily. No problem. Send them a sample statement of advice. Make sure it's one that aligns with the accountants niche (if they have one). Highlight in a cover letter / presentation the cross referral opportunities.
If you have constructed your statement of advice in the way we here at PCE have talked about (in our previous posts) then it's most probable they have not seen a document like it in the way it speaks and communicates to the client.
One business we know did just this.
A request came back from the accountant to takeup the free statement of advice. But it was not for the accountant. It was for the accountants mother.
Following the perparation of the statement of advice the recommendations were accepted and implemented. Within a short period of time (6 months) the accountant referred with such regularity that the main adviser based themselves out of the accountants office 2 days a week (7.30am until 5am) engaging with staff and clients.
That adviser now owns 50% of the accountancy practice (bought at 0.90 times).
All that by asking their top clients who did their tax.
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