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Finding the Perfect (Client) Fit

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Choosing the right prospect is similar to picking the right suit. Just as it’s important for a client to find an advisor who’s the perfect “fit,” it’s critical for an advisor to work with a client who “suits” them. We all want to work with a person with whom we feel comfortable, can relate to and understand.   

In my opinion, as agents, we tend to dismiss the importance of having a few dedicated clients over a mass amount. It can be tempting to want to sell everything to anyone, but we need to remember to stay focused on building long-term relationships. As a member of the Million Dollar Round Table (MDRT), the single most effective strategy which has helped me achieve success is determining the type of person I want to call on by selecting a market segment that interests me. This allows me to define the services and products I can deliver.

My assessment begins by:

  1. Identifying the  market segment
  2. Recognizing the type of prospect within the segment
  3. Determining what I want to sell
  4. Clarifying the benefits I can offer and deliver

In order to help you evaluate a market segment, you’ll need to dedicate time to research facts which are readily available. You’ll want to combine the information you find with a presentation. This presentation can be used as an aid to explain to your clients how your ideas can assist them. This is generally more favorable as opposed to going in with an idea book or with multiple different ideas, because busy people don’t tend to stay focused on one thing for too long. Then, take the idea you developed to the marketplace or to other professional advisors. Explain to them the profile of your ideal prospect, how your program will be beneficial for that person and what’s in it for the client. Also, discuss how this idea can generate more business for the advisor. This gives you a foundation to ask for referrals.

Everyone’s technique to produce new business will vary, yet if you have a concentrated focus it will ensure a constant flow of prospects. There are some of us who have a talent to sell a variety of products to a lot of people, while others prefer to devote their time on a selected few. I encourage you to find what market excites you. I know I do my best with a high focus on fewer great clients.