To grow your business, you need to adopt different strategies to acquire new clients. And networking is one of the easiest ways to get new clients. Moreover, you can grow your client base by leaps and bounds if you network with the right people and be visible where your ideal clients hang around.
Here are few networking tips which can help you to acquire more clients.
Prepare your positioning statement
How will you differentiate from your competitors in a networking event? Prepare a client-centric positioning statement which you can convey with fresh authenticity. Remember, don’t make it look like a sales pitch. Rehearse a couple of times with variations so that it becomes easy to change the delivery depending on whom you’re speaking with. For instance, Mark Magnacca cites an interesting positioning statement for financial advisors in his book ‘So What’ – “Do you know how frustrating it is when you get lost? Well, what I do is work as your financial GPS, keeping you on track.”
“Many people are frustrated with agents who repeatedly try to sell products. So, it becomes difficult for other advisors who are trying to reach out to new clients. Differentiate yourself and don’t try hard to impress others,” advises Rajesh Hattangady of Thiink.
Initiate your own leads group
You may be a part of many business groups. But, not many would have initiated to start a group of their own. Take the leadership and start your own ‘leads group’. You can start this on social media or a What’sApp group.
If you are not part of a well-connected referral or leads group, you should consider creating one yourself. Srikant Matrubai, a Bengaluru based advisor says, “While not many are comfortable taking charge of any responsibility, it is essential for IFAs to form groups to get more clients. It will also help you to exchange business ideas.” These groups work because their purpose is to pass business leads. Clients too, welcome you more easily as you have not approached them through cold calls.
Be prepared to answer difficult questions
In networking events, you may encounter all kinds of questions. The way you answer these questions will make or break your deal. For example, people may ask your views on the markets or falling interest rates. Here, your answer will make a difference. You need to shift the focus of the conversation and redirect it into an opportunity without showing any nervousness.
Follow up
Networking doesn’t end with meeting new people. You also need to follow up. Use different techniques of following up with people you meet at events or any social gathering. “After meeting prospects, send a handwritten note and your agenda which can emphasize that you are seeking a follow-up meeting with them,” says Gajendra Kothari of Etica Wealth Management.
Lunch/dinner events
Another way to expand your network is by hosting a lunch or dinner for your clients. “Sometimes we host dinners for our clients. Sometimes, we are invited for lunch/dinner by clients. Such informal parties helps break the monotony,” adds Gajendra. If such events are good, your clients will bring their friends who can be your potential clients.
Do you network to acquire new clients? Let us know.
