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.

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?

Connect On Your Website
Craft your website to truly speak to your referrals/prospects.

Update Your Website – the Homebase for Your Business
When a referral arrives at your website is your differentiator clear? Will they be persuaded to look further and contact you? Is there valuable content on your site to share your knowledge and calls to action to engage your ideal website visitors?

Compel Through Your Value Proposition
Have a compelling value proposition that your clients who refer to you can share.
It should hit on the major challenges you solve. You may hear the term “value proposition” tossed around in business and marketing circles, but what is one? What do you do with it? And how do you write a good one?
A value proposition is a positioning statement that explains the benefit you provide for your target buyer and how you do so uniquely well. In other words, it explains why prospects should choose you over your competitors and how working with you will benefit them.
Sounds simple enough, but writing a good one can be tough. Your value proposition has to address multiple topics in a limited amount of space. It must speak to critical issues your target market is facing and also explain how you help remedy them. Without one, your prospects will be forced to make up their own minds about what you do and the distinct benefits you offer. Why leave those potential sales up to chance?