Weekly Voyage: Maximizing Your Client Database, 7 Reasons Why You're Not Getting Many Referrals, Time Optimization Exercise, & "Sleep Insurance"

Maximizing Your Existing Client Database

After John Sample and Sally Sue become clients of your firm, that doesn’t mean the marketing should stop. The reason being, because John and Sally should also be viewed as repeat customers, as well as clients. For every client, there are multiple revenue streams. To maximize these future revenue streams, you should be consistently marketing to your existing clients. If you market effectively, you will increase your retention with your existing clients. If the relationship is strong and you’re always in front of your clients with new offerings and value adds, you will increase your firm's revenue. And if you continually “wow” them with new offerings, experiences and service level, you will increase new client acquisition through referrals and overall customer advocacy.?

Note: There is no article published this week to read.

Link to Podcast Episodes to Listen:

• Click?HERE ?to listen on Spotify.
• Click?HERE? to listen on Apple Podcasts.

7 Reasons Why You're Not Getting Many Referrals

You won't get many referrals if:

1. You aren't doing anything above and beyond.
2. Your clients can't easily articulate what makes you different the the rest.
3. You don't communicate with them outside of review meetings.
4. You over promise and under deliver.
5. Your clients don't have opportunities to introduce you in group settings.
6. You lead with your solutions before really understanding specific problems.
7. You're just not very valuable to their success of their financial plans.

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Time Management & Optimization Exercise

Are you struggling with managing and optimizing your time throughout the day?

Many advisors are.

Most people in general struggle with managing their time, let alone optimizing it.

In an effort to help you manage and optimize your time better, I've created a very short video to walk you through an exercise that I personally do, and that I recommend to many of the advisors and business owners that I work with, to do.

Before watching the below linked video, grab a sheet a paper and draw out the boxes below exactly how you see it. But allow more room in each box to write additional items within.

Click the below link to watch the video where I discuss the time management and optimization exercise in more depth.

Question of The Week:

Do you use insurance carrier generated illustrations for life insurance, LTC, annuities, etc. during your sales process?

"Sleep Insurance"

"SLEEP INSURANCE" is a term I would encourage you to weave into your meetings and conversations whenever it makes the most sense.

The specific role that you play in a client's financial plan shouldn't impact the question of IF you can provide "sleep insurance" to your clients...

Your specific role impacts HOW you can.

What are some of the ways you provide "sleep insurance" to your clients?

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