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Business Development Tips to help you acquire new clients

Tips to help you acquire new clients

11 effective prospecting tips for advisors
Kanika Bhargav Jun 8, 2018

Prospecting is one of the most vital parts of selling, and advisors cannot grow their practice without bringing in new clients. Even though prospecting is an important part of an advisor’s job, it can be a challenge for some.

Here are some prospecting tips that you can put to work immediately.

Do not be fear rejection

Rejection is a natural part of the sales process and it is something that can always happen, no matter how good you good you are. Always remember it is rejection of your offer, not you. Some people will be interested, while others will not. If someone is not interested, he/she is not a prospect.

Always be prepared

You must be knowledgeable about the people you are trying to reach. Take some time to think about questions that prospects will ask about you and your company. When you are thoroughly prepared, you will be more confident in your approach.

The best way is to write down a script before making a call. Your script must include your introduction and the reason for the call. This will show that you are well prepared, and help you go with the flow.

Know your numbers

Prospecting involves playing around with numbers. You can set a target by using simple maths. For instance, let us say, your experience shows that to get one client, you need to meet 3 prospects; to meet 3 prospects, you need to make 15 calls.

Set yourself target for activities such as calling up, fixing meetings etc.

Use a CRM

Customer Relationship Management (CRM) software can come in handy during prospecting. By using CRM software, you will know whom you have already contacted, whom you need to follow up with, what contact methods you have used etc.

Know your clients

Before meeting a client do some homework on them by going through their social media pages. Since prospecting is tough, you should at least be prospecting for people you genuinely want to work with.

Get involved with the community

Volunteering and getting involved in local groups and associations is a great prospecting technique because it helps you meet more people. When you join an organisation, you can meet like-minded people who may end up becoming clients themselves or referring other people to you.

Connect on social media

Social media is a great, cost-effective, way to build professional and personal brands and connect with prospects in an engaging, modern, authentic manner.

LinkedIn – Use LinkedIn to increase the referral network and connect with other industry professionals. Advisors should utilise this networking site by joining groups, connecting with prospects, and getting involved.

Twitter – Use Twitter to enhance client-prospect relationships and build your brand.

Facebook – Use Facebook to create a business page to promote the financial services, increase brand awareness, and interact directly with prospects and existing clients.

Invest in your website

Your website is one of the best ways to find prospective clients because people who visit the website are usually leads. Before you even speak on the phone, your website could have already inspired confidence in a prospective client who has read all about your supportive and capable staff, as well as your experience and background.

Your website details the services and products you offer, ensuring clients understand what it is that you do. Plus, it is available 24 hours a day, seven days a week.

Identify your niche

Having a niche market is crucial for financial advisors. Niches are an effective way to transform an advising practice and grow its income. With a targeted niche, advisors will spend less time dealing with clients and receive better conversion ratios from the prospecting activities they do.

Tap your referral network

Tap your referral network for qualified prospects who might be looking for your services. This works best when you do not regularly contact your network for leads and have specific ideas in mind about the types of referrals you are seeking. Develop a specific list of prospects you want to contact and request introductions.


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Hi-Tech Capital · 4 months ago
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Amit Agarwal
Hi-Tech Capital
Nitin Shah · 4 months ago
Tips,guidlines are very useful for Advisors.Thanks for the same.
keshav · 3 months ago
Great ideas shared by you. Thanks for sharing the ideas.
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