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Client Acquisition Tips from Bill Cates

I had breakfast with a successful financial advisor last week and he told me of a unique way he responds when someone asks him for references. Since he works almost exclusively from referrals, it doesn’t happen much, but when it does, he responds by saying, “I’d be happy to provide you with references, but with three conditions.”
Here’s a prospect – with whom he’d like to do business – and he has “three conditions” before he’ll provide references. Most people would just say, “Sure. No problem. Happy to do it.”

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Guest Article from Gail Goodman – The Phone Teacher

Did you know that there’s a new don-not-call list? You’re familiar with the 2003 National Do Not Call list. And you know that many telemarketers are completely ignoring it, which contributes to our inability to get prospects to pick up their phones. But there is a bigger problem than the abuse of the DNC list.

For everyone with a smartphone, their “personal DNC list” is everyone who is not a contact. That’s right. If your name and number doesn’t come up when you call a smartphone, you’re out of luck. The new normal is that you have to be a contact.

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You’ve probably already heard me talk about the importance of client engagement. A study by Advisor Impact has shown that there’s a low correlation between client satisfaction and the giving of referrals. It is Engaged Clients who give referrals. A prospect or client has to appreciate both the value your work delivers and you as a person. So from the minute you meet someone, you want to be thinking about how you continually connect on both levels.

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Okay. Okay. How many times have you heard that you need to ask your prospects and clients good questions? And I suspect you do that. Perhaps you have read some of my previous posts about asking High-Value Questions. A High-Value Question is a question that brings value to the process. The best High-Value Question is one that brings value to both the prospect/client and you at the same time. Here are a few High-Value Questions I’d like you to consider…

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Formal networking groups – such as BNI, chamber of commerce groups, and groups that gather for the purpose of exchanging leads – can be a great opportunity or a waste of time. It all depends on how you “work it.” I don’t remember who said it, but the saying goes something like “It’s not called net-sit, or net-eat. It’s called net-work.” Here’s a checklist of five habits you want to establish to make the most out of this client-acquisition strategy:

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I just returned from a spectacular vacation in Egypt. Great history, camel riding, hot air ballooning, cruising down the Nile, and great people! As we passed through a number of areas with local street vendors and shop keepers, it got me thinking about sales do’s and don’ts.

Most of the folks that I encountered managed to be both very persistent AND very polite at the same time. Below are some of the key points that I took away from their good (and bad) methods.

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We’ve covered some of the benefits of Reputation Marketing and 3 attributes of a profitable target market. Now let’s focus on 3 Strategies to help you maximize your results (meaning creating a reputation that leads to new clients).

1. Position yourself as a Specialist – When you talk about your value proposition in a way that demonstrates that you’re a specialist in your target market you are more likely to catch someone’s attention. Which opening statement do you think is more likely to create interest and curiosity about your value?

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One way to build a solid and profitable business is by finding one or more target markets and applying the principles of Reputation Marketing. Last week we covered 7 reasons why I believe you should consider this powerful strategy. This week, I’m going to give you 3 attributes of a profitable target market.

1. Financial Capacity – Regardless of the nature of your business, if your targets don’t have the financial capacity to take full advantage of your value (operative word being full) then it’s the wrong niche for you.

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You probably already have a sense of how narrowing your marketing focus helps you produce better results. But perhaps you’ve never fully bought into the idea. Many people operate under the mistaken belief that, “If I just focus on this target market, I’ll miss all this other opportunity.”

Well, the truth is you might forego some opportunity, but your success in your niche will be so great that you’ll never miss it. Here are 7 reasons why you want to consider targeting a narrower market:

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