9 Steps to Take When Your Prospecting Strategy Isn’t Working

Step 5: What happens when someone calls your office? A walk in comes through the door? Are they warmly greeted and made comfortable while waiting? Do phone messages get to you quickly? Does someone review voicemail?

Action Step: Call your office or have a friend do it. Have them act like a prospect. Does that message get to you? How often do you review voicemails?

Step 6: You have friends. Do they know what you do? Let’s assume the answer is no or they have only a vague idea. How are they going to find out? There’s nothing more irritating than learning a friend just bought a product elsewhere because they didn’t know you sold it.

Action Steps: List your friends. Go down the list. Do they really know what you do? Write down yes’s and no’s.

Step 7: Are you a victim of Multiple Failure Syndrome?

No, MFF is not a new disease you should ask your doctor about. It’s the habit of trying a prospecting strategy, getting to the point when it’s just starting to work and saying: “This isn’t working. I’ll try something else instead.”

You keep repeating the process, putting strategy after strategy in place, yet not giving any a decent chance. Persistence is a virtue. A Northern California advisor explained: “You can chop down a tree with a hammer.”

Action Step: Going forward, pick a good strategy. Stick with it, making adjustments along the way.

Step 8: Find what’s working for other people. Asking around the office might not be the best approach because peers often consider complaining about lack of business an Olympic sport. Your office or regional sales manager should be able to connect you with another agent or advisor who is at the same stage of their career and having success in prospecting.

Action Step: Find a successful advisor within the firm willing to share some practical advice.

Step 9: Get professional help. Buy some books on prospecting within your industry. Look into hiring a coach. Often, you need someone to provide structure and accountability. Professional golfers have coaches. Why not you? This will cost money, but it should be money well spent.

Action Step: Look into hiring a coach for a several month period. Don’t think you are smarter than them. Do what they tell you to do. They hold you accountable. You do the same.

Getting new clients isn’t about the search for the silver bullet, that cutting edge strategy no one has tried before. It’s about knowing what you are good at, having a process, getting the word out and sticking to a strategy.

— Read 10 Ways to Tactfully Get Your Point Across, on ThinkAdvisor.

Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, “Captivating the Wealthy Investor,” can be found on Amazon.