Many financial planners operate a scattergun approach, trying to sell to anyone and everyone who walks through the door. It may work for Coca-Cola, but rarely for small and medium-sized businesses.
A better understanding of your ideal client will equip you with the knowledge to effectively target your market and convert more potential customers into long-term clients.
From my experience as an Australian financial planner of the year, accounting firm chief executive and business-success coach, a slower economy is the perfect time to get to know your client, believe it or not.
By considering who your ideal client is now and getting to know them better, you’ll be able to refocus your business, advice offering and marketing efforts so that your business is squarely positioned to attract only A-class clients as market conditions improve.
By considering who your ideal prospect is and aligning your business with their needs, you’ll be able to provide a higher level of advice and service, reap the rewards of increased customer satisfaction and relieve yourself of the headache of dealing with those D-class clients.
The reality is that your ideal prospects are not like just any other paying customer – they’re the ones that will boost your bottom line and leave you with a smile on your face at the end of the day.
As with all customers, it’s important to remember that your ideal prospects’ needs are ever changing. Being responsive to market changes by tailoring your offerings and marketing campaigns will result in increased conversion and retention rates.
The key is to strengthen your connection with your ideal prospects.
Stay on their radar. Get to know them. Ask. Listen. Interact. Adapt.
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