Category Archives: Business

Contrarian Networking Strategy – Part 4

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Check out the entire Red Zone Marketing Guide, “The Contrarian Networking Strategy”
Contrarian Networking focuses on the principles of networking that do work – and they are almost always the opposite to what we may believe about networking.

Part 4: Create a Contrarian Networking Plan of Action
Have a plan of action before you go to any event. The goal – to meet connections and future advocates – not to make immediate sales.

1. Find out who’s attending.
Ask the host or organization for a list, ask others, check emails for others attending.

2. Who do you want to meet at the event?
Make a list of the top 5 (don’t avoid the big names).

3. Research people you may be attending by searching on Google and LinkedIn.

4. Find The Meeting Organizer.
If you can’t find out who will be in attendance, when you get there, find the meeting organizer. Introduce yourself and ask who he/she thinks you should get to know at the meeting. Oftentimes they will take you to someone and make the introduction for you (it’s a lot better than standing by the drink table or door all by yourself).

5. At the event, let them do the talking (You ask the questions!).
Once introductions are made, you can move on to more in-depth business questions:

Contrarian Networking Strategy – Part 3

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Contrarian Networking focuses on the principles of networking that do work – and they are almost always the opposite to what we may believe about networking.

Part 3: What To Say When Someone Asks About You?

Every firm needs to have a refined firm story to assist in marketing and client acquisition. But there is a serious need to have a compelling opening line for your firm story – probably several of them. Without something compelling (to them), you may never get the chance to share your story. Even the classic elevator pitch is too gimmicky for an informal initial introduction. In a world of ever-decreasing attention spans, less is definitely more.

A solution for compelling others to want to listen to you is to develop a 15-20 second Simple, Repeatable, Statement of Value (SRSV) for each target audience. An SRSV is a statement that is easy to remember and shares some value directly for the person you are speaking with. Below is the 4-step formula for building your own SRSV. Your SRSV may not include the answer to every question, and it doesn’t have to be compiled in this order.

Develop your 15 second simple, repeatable statement of value (SRSV).

Answer the following questions:
1. What are their needs, wants, challenges, problems, questions, and interests?
2. What you do?
3. What is your memorable differentiator?

Here are some financial advisor examples:

Contrarian Networking Strategy – Part 2

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Contrarian Networking focuses on the principles of networking that do work – and they are almost always the opposite to what we may believe about networking.

Part 2: Contrarian Networking Methods to Building Your Connections

1. Build Quality Relationships.
Take time to deepen your relationships with referral sources. Invite them to social functions, learn their hobbies and interests, and help them pursue their personal goals.

2. Network in New Places.
Look for new areas to find referral partners with common interests. Don’t prospect right away; let the relationship mature.

3. Focus on Others.
Adopt a “What can I do for this person?” mindset. Always give to others, and be known for this.

Contrarian Networking Strategy – Part 1

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Create Truly Effective Networking That’s NOT Focused on Networking

In general, networking to increase sales quickly can often be a frustrating undertaking. Many businesspeople join their local chamber of commerce or business networking group and are initially excited at the prospects. But the unfortunate reality is that it often doesn’t live up to expectations; so, we quit and look for another way to drive sales to our business.

But wait!

There are principles of networking that do work – and that are almost opposite to what we may believe about networking.

FACT: PULSE Survey Research by Red Zone Marketing* has shown that networking is consistently one of the top 5 ways financial advisors are bringing on new business. (The number 1 method is unsolicited referrals).

Part 1: Build Connections Not Prospects and Stop Networking!

The goal isn’t to be the winner of the most business cards received at an event. That
just gives you more cold-prospecting and follow-up to do after an event.

The goal is to make connections with those that can introduce you to others based on their network.

The focus of networking also should not be on gaining an immediate sale from the people you talk to. In fact, that tactic almost never works.

Unsolicited Referrals – How to Get LOTS More – Part 5

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CONVERT Your Referrals
Design the path your prospects will take that will guide them to taking action and scheduling an appointment.

Define Your Prospect’s Journey with Distinct Touchpoints
What if you had a strategy and flow to your web presence that improved the user experience and led them where you want them to go—to a conversion (set up a meeting with you).

The Prospect Journey Isn’t Perfectly Linear
The reality is that it’s very rare when there is a direct line between a referral and that initial prospect appointment. Of course, this would be ideal, but it’s unrealistic. Very rarely are prospects eager to come in and meet with a new financial advisor, share all their financial information with someone they don’t know, and then move their accounts from the advisor they have had for a long time.

It’s a tough sell, no matter how great an advisor you actually are. Your best bet is to build touchpoints on the client journey that keep the mad scribbles to a minimum, guide your prospect through certain touchpoints on a well-defined journey, and land that initial call.
So what is the path that a prospective financial planning client actually takes?