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Life Health > Running Your Business > Prospecting

Capitalizing When Your Competition Forfeits the Game

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What You Need to Know

  • You could send clients letters.
  • You could call them.
  • You could recover your password for LinkedIn and look around in there.

You know this from school sports. What’s the easiest game to win? The game when the other team doesn’t take the field. If they don’t show up, they forfeit. OK, maybe you aren’t into sports. Think about courtroom dramas when the prosecuting attorney doesn’t show up and the judge dismisses the case. This can work in your favor.

The pandemic has numbed everyone. We are tired of it. You are Zoomed out. The stock market has behaved surprisingly well, in spite of occasional bad weeks. Clients haven’t been that concerned. Let sleeping dogs lie. Many of your competitors likely have this attitude. This can work in your favor.

Here are six easy ways to look for additional business while your competitors are sleeping.

1. Seminars, anyone?

Everyone is tired of self-isolation. The weather is still good. Assuming you and your firm think getting a small group together can be done safely, how about a seminar at an outdoor restaurant while the weather is still good? You are in the open air. Some people you invite still want to avoid group settings. You have a video or recorded version they can access after the fact. Regardless if they attend or not, they will remember you took the initiative.

2. Send some letters.

No one does it anymore. Don’t people still get mail? They might be fed up with robocalls. Their e-mail inbox might have 500 unread messages, but surface mail has regained its novelty factor. If all they get are bills and advertisements, an attractive business letter stands out.

3. Calling all clients.

Seriously, how much does the phone ring at home? When it does, how many are real people, not robocalls? In 1984 Stevie Wonder recorded “I just called to say I love you.” Many clients will appreciate the sentiment, which leads into the next strategy.

4. Pretend you don’t have all their money.

Why don’t agents and advisors call clients more often? Different preferred communication channels is one reason, but “I have all their money” is another. The call won’t ring the cash register. Call with a new idea anyway. When they say, “What should we sell?”, tell them you like everything they already own. This idea will need fresh money. Name an amount. Stop talking. See what happens.

5. Ramp up your newsletter.

If you don’t have one, get one. If you do, increase the frequency. If the recipients are learning new information they can use, it should be welcome. Encourage the readers to engage with you. The message is “call and ask questions.”

6. Engage on LinkedIn.

Are you one of those people with a blank space on your profile page below the words “Posts within the last 90 days displayed here”? Are you one of those people who rarely visit? Start by visiting Messages, then Notifications. Respond to messages and then catch up on birthday notifications. People should respond. Engagement has begun.

So many people mentally “take the summer off.” This includes agents and advisors collecting trailers regardless of whether they call their clients. You’ve heard: “You snooze, you lose.” Take advantage of this opportunity to be the one who’s moving when others are snoring.

(Photo: Panimoni/Shutterstock)