For financial advisors, there’s nothing quite like a spontaneous referral from a satisfied client. But how do you generate more of these bastions of new business?
The answer lies in creating closer personal relationships with your clients while simultaneously increasing your face time. One of the best ways to accomplish both is by hosting client events. When conducted correctly, these relationship-building events can produce wonderful benefits, including increased sales from existing clients, client retention and (possibly) more referrals.
Are you currently hosting client events? How many? A proactive financial professional should consider hosting no less than four of these events each year. Most advisors begin with a more educational style in their events, then eventually move toward more social events once they better understand and become comfortable with the social interaction of their clients.
I’m often asked, “Why don’t my clients attend my events? Why aren’t my clients bringing guests?”
Most often, the answer is because your event is boring. To work toward success and make the endeavor worthwhile, you must craft events that capture the interests of your clients.
Here is a list of the various types of client events I’ve heard of over the years:
1. Holiday and Theme Events: Birthday parties; holiday open house; holiday lights tour; Valentine’s Day dance or dinner (if you have widowed clients, these may be very welcome ideas); Fifties sock hop; Roaring Twenties bash; caroling at Christmastime.
2. Financially Related Events: Speech by a former FBI agent, or someone from the Secret Service or the Treasury Department on identity theft.
3. Entertainment Events: Casino or poker night; spy night; Elvis impersonator; movie night or matinee; murder-mystery tour or dinner; hypnosis show; magic show; comedy show; theatre or concert with back-stage passes; fashion show; casino, aquarium or zoo tour; dinner theater; sunset cruise; concerts in the park; block party or yard sale.