Marvin Feldman, CLU, ChFC
Tuesday, January 15, 2008
The business market’s tough, demanding and time consuming reputation is not likely to soon change. Agents need to rely on strategy to best maximize time and energy, and increase business case output. Business market success is heavily based on your approach, especially given today’s prospects’ heightened defense level. Following are prospecting basics based on 40 years of trial and error:
- While the industry standard of cold calls still works, it can be impersonal and uncomfortable. Do not underestimate the power of the referral. This tactic is seldom utilized, for fear the client will say no. Yet every time I ask for referrals, I get them. However, never ask who they know. Instead ask who they buy their materials from, who their suppliers are, or who provides the company’s IT. These questions will get you the names.
- Because business cases take so long, maintaining momentum is crucial. Most of us voraciously prospect to build our case load, fixate on these cases and consequently stop prospecting. Next thing you know, you’re in a slump with no new prospects. Instead, systematize your prospecting and continuously work your system.
- Lastly, stay top of mind! Keep in touch both with your prospects and clients by mailing articles, new product letters, or monthly newsletters. When in the area, stop by to ask how you can be of further service or to simply introduce yourself.
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