In every market there are the most prestigious clients. Those that if you could attract them as clients, they would propel you into the elite.
The challenge becomes, why should they pay attention to you? What’s the best method for getting them on your radar screen?
In today’s video I share a strategy anyone can use to attract marquee clients:
If I asked you, “Where do most of your best new clients come from?” I’d imagine you’d tell me, “Referrals”.
I’d also imagine you’d tell me that you’d like more of them. So let’s help you accomplish that goal.
The biggest obstacle most people face when trying to get referrals is that they don’t do a good job of explaining what they do. If people don’t understand the benefits that others get by working with you, their ability to remember and refer you is severely compromised.
The problem when explaining what you do, is that we revert to what I call “comfortable shorthand”.
“I’m a lawyer.”
“I’m a financial advisor.”
“I’m a marketing consultant.’
Now there’s nothing inherently wrong with these answers. However, these are the types of answers that go in one proverbial ear, and out the other. Additionally, they don’t tell your listener what the ultimate benefit is from what you do. (That’s crucial and I’ll share an example shortly.)
The temptation to use these “comfortable” descriptors is considerable for a couple of reasons. First, this is how most everyone else describes what they do. Especially in social situations, we want to follow the cadence and rhythms of those we’re with. If everyone is using the “comfortable shorthand” to describe what they do, there’s a bit of psychological pressure for you to do the same.
Second, so many of the more elaborate descriptions sound, well…rather cheesy. You’ve probably cringe internally when someone who’s obviously completed some sort of second rate elevator pitch program comes up to you and says, “I’m the go-to guy in making your money grow.”
Ugh
An excellent answer to the ubiquitous question of, “What do you do?” needs to be both memorable and consistent with the image and class you want to known for. Unfortunately, developing precisely the right answer takes a fair amount of work. Even though the end result looks oh-so-simple, the reality is that there’s a good amount of mental-heavy-lifting that’s gone on behind the scenes.
I can speak to this personally, since it took me a long time to develop an answer that I felt comfortable with, and enabled people to remember me (and ultimately refer me business). For years I’d simple respond, “I’m a marketing consultant.” Certainly accurate, but it’s going to be hard for someone to refer me business based on that answer.
Here’s what I eventually developed when I’m asked, “So Mark, what type of work do you do?”
“In a nutshell, if you own a business and need more new clients, I’m the guy who shows you how to get them.”
Short. Memorable. My listener immediately understands the key problem I solve and the key benefit I provide.
I firmly believe that because of the way I describe what I do, I get a lot of calls that start with, “So-&-So suggested I speak with you…”
If you’d like to spend an hour with me working on how to describe what you do in a way so that people “get it” and can refer you business, simply send an email to barb@gentlerainmarketing.com with your phone number and the words “Consultation” in the subject line. For the modest fee of $250, I’ll work with you to develop a memorable, catchy (but highly professional) way to describe what you do.
Talk soon
Mark
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I think what prevents people from implementing a successful marketing/client attraction system, is that they simply get overwhelmed.
Which is a shame. (Especially since a lack of new clients is the #1 reason why businesses go out of business.)
However, becoming overwhelmed is easy to understand, and it can happen to anyone (for years I struggled with this very issue).
However there is an easy solution, and I discuss it in more detail in this short 5-minute video that you can watch HERE
Suffice it to say, the most common reason we get overwhelmed is that we get distracted and go off on tangents, We start by focusing on one activity, read about something else that sounds kind of interesting, and the next thing we know…zoom…we’re off on all sorts of different paths.
Unfortunately, we only get a third of the way down each of the paths, so the end result…which is to get us more new clients…is never achieved.
So what’s the solution?
I believe that the answer is to fully map-out what the steps are before we start. I know that sounds simple, but relatively few people actually do it for one simple reason…they’re not sure what the steps are.
As I share in my short video, there are only 5 or 6 steps you need to be focusing on. But…(and this is important)…you need to do the steps in order.
That’s where a lot of us get in trouble.
For example, we start focusing on lead generation too early in the process. Simply generating leads that go to a website that’s bland, looks the same as your competitor’s, or doesn’t make a great offer, just results in prospective clients ignoring you.
Naturally, that’s a big waste of time, money and effort.
However, if we map out the client attraction process in the beginning…create a blueprint for implementation…then there’s absolutely no reason why you can’t have a highly effective client attraction marketing system up and running, inside of 45 days.
So if you’ve been frustrated with implementing your own marketing system, I think you’ll find this 5-minute video to be of interest, and you can watch it here.
Talk with you soon
Mark
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When marketing services you need to focus on both how to get prospective clients interested in what you have to offer, and then how to convert them into paying clients.
However, how often to stay in touch is a tricky question. Too frequently and you become a pest. Not often enough, and people forget who you are. This video shares some guidelines you’ll find helpful.
As a reminder…this make take a few seconds to actually begin running.
Staying In Touch With Prospects from Mark Satterfield on Vimeo.
Ready To Take The Next Step? That Information is HERE.
In an ideal world, we’d simply announce what our services are and people would hire us. One simple sales letter would result in new paying clients. The “feast or famine” business cycles would be a distant memory.
Unfortunately (as we know) the truth is a bit more complex.
Getting prospects to pay attention to us in the first place isn’t easy. (Especially if you find it difficult to differentiate yourself from your competition.)
But the challenge doesn’t stop there.
It just changes.
While having prospects “raise their hands” and express an initial interest is the very-important first step, it’s only just that…the first step.
Because now, the challenge becomes, How do we convert these prospects into paying clients?
This was a real challenge for me. For a long time, I was excellent at getting prospects to raise-their-hands, but only mediocre at converting them into paying clients.
I’m not sure what exactly made the light bulb go on. In truth it probably was a culmination of things. But I do remember when the switch got flicked.
I was flying back from Steve Harrison’s Quantum Leap program. We’d been spending the past 3 days discussing hooks-how to pitch your ideas in short “sound bites” so that the media gets intrigued. I guess that getting into this frame of mind, enabled me to sit down and write a sales script (actually more of a Sales Closing Presentation).
At the time my closing percentage was around 25%. OK, but not great.
Have you ever had one of those moments of great clarity? When all of a sudden, all the disparate pieces of the puzzle come together?
I had mine somewhere at 35,000 feet passing over Philadelphia.
I wrote the Sales Closing Presentation in literally 20 minutes. Unlike other sales scripts I’d written, this had three distinct sections. Questions-Transition-Close.
And that’s key. An excellent Sales Closing Presentation has all three components. The reason why most traditional sales scripts don’t work is that they only focus on the last element. However, the reality is that without all three sections, the script either sounds canned & fake, or simply falls flat.
I’ve been using this Sales Closing Presentation for the past 7 months for one of my business offers. My closing percentage has gone from 25% to 85%.
Granted, I have an advantage that you may or may not have.
I don’t talk with “cold” prospects. Everyone I’m speaking with has opted-in to become a Gentle Rain subscriber before I ever talk with them.
Remember, marketing and sales go hand-in-hand.
Marketing is about getting people interested in you. Sales is about converting these prospects into paying clients.
You need both.
If you just focus on marketing, you’ll have a big list of prospects but little money in the bank.
If you just focus on sales, you’ll spend a huge amount of time talking with people who are just a waste of time.
So you need both.
I’ll admit I’m someone who, for the longest time, thought I was better at closing than I was. My philosophy was that if I could get them initially interested, I’d turn them into paying clients.
In reality I was only right about that 25% of the time. OK, but not great.
What I’ve found is that having the right sales closing presentation enables you to not only increase the percentage of prospects who become clients, but it also greatly improves your consistency. (Interestingly, I’ve tried as an experiment not using the Sales Closing Presentation on occasion-and sure enough-my closing percentage drops back down to 25/35%.)
But…(there’s always a “but” isn’t there?)…a good Sales Closing Presentation doesn’t sound like a script. It sounds like a conversation. But, creating that requires the 3 elements I discussed.
Maybe I’ll write about those 3 components in more detail if anyone has an interest. If so, drop me a note.
And…(blatant plug)…if you want me to work with you to develop a great Sales Closing Presentation of your own…that’s an ideal use of the Gentle Rain Coaching program.
Something to consider.
Mark
MORE INFORMATION
In today’s video I share an often overlooked technique for branding and differentiating yourself. It doesn’t cost any money to implement and when done consistently it can be enormously powerful.
This video may take a minute to load so please be patient:
How To Get More New Clients Using Thought Leadership from Mark Satterfield on Vimeo.
Here are some motivational thoughts that I think will be helpful-especially if you’ve been frustrated in the past with your marketing results.
This video may take a minute to fully load so please be patient.
Eliminating Marketing Frustration from Mark Satterfield on Vimeo.
If you ask most any advisor, consultant or provider of high-value services where their best clients come from, it’s likely you’ll hear, “referrals”.
However, as we know, not all referrals are equal. There are two primary sources for referrals, and while both are worth developing, only one is likely to provide you with consistent streams of the types of new clients you most desire.
Typically referrals come from either existing clients, or from professionals, (often referred to as Centers of Influence-COIs). According to a study conducted by the marketing research firm Prince & Associates, of these two sources, COIs outperformed existing clients both in terms of quality and number of referrals. When one thinks about that, it makes a great deal of sense.
For example, if one is seeking to attract more affluent clients, your current clients will tend to know a relatively small number of qualified and interested clients. However, the right attorney or accountant is in a position to refer you considerable numbers of the precise types of clients you most desire.
Now, this isn’t meant to discourage one from actively seeking referrals from existing clients, but it does shed some perspective on where your marketing efforts might be best utilized. This is particularly true if your goal is to upgrade the quality of the types of clients you take on. In that scenario, relying on client referrals can be highly limiting.
However, for most advisors and consultants it is far easier to rely on referrals from their existing clients, and in many cases this makes up the majority of the overall marketing effort. While that may be suitable for those offering relatively inexpensive services in which “everyone” is theoretically a prospect (such as plumbing or other household services), for those seeking to attract premier clients it’s likely you’ll “lap the track” on who they know relatively quickly.
This is why when one looks at the traits of consultants and advisors who earn in excess of $750,000 per year, one notices that they have almost universally focused on building a select network of COIs.
This all makes perfect sense and on one level is hardly “new news”. While the importance of building relationships with COIs is well understood, the competition is intense. Again, according to a study done by Prince & Associates, attorneys and accountants (just to name two strategic referral sources) averaged 5.1 solicitations every 6 months from someone desiring to do work with their clients.
To make matters worse, most of the time the pitch is mind-numbingly predictable and undifferentiated. Thus it’s of little surprise that all this effort results in very little return. After a few half-hearted attempts, the majority of advisors and consultants simply decide to give up and go back to concentrating on referrals from their existing clients, and continuing making the rounds at various networking events.
So what does it take to build relationships with COIs? Keep these two points in mind.
First, think small numbers. Most referrals programs teach a “spray and pray” approach-try to develop some sort of relationship with as many COIs as possible. Even in the best-case scenario, this only results in very casual affiliate-types of relationships. These may result in an occasional referral on a sporadic basis, but hardly what one wants from a true strategic partnership.
A far better strategy is to focus on deep relationships with a small number of COIs. How many is “small”? According to research done of advisors earning over $750,000 per year, the number never was greater than five. Again, if one thinks of developing true “partnering” relationships, that small number makes perfect sense. Anything above that becomes both unwieldy and unpractical.
The second key element is to approach building strategic partnering relationships with the mindset of COIs as clients. Again, this is intellectually understood, yet often missing in execution. A simple exercise I learned from consultant Brett van Bortel illustrates this.
Take a piece of paper and divide it into two columns. On the left hand side put the initials of one of your best clients-the type of client you wish you had more of.
In the second column put the initials of a professional who has either given you a great referral, someone you’re cultivating as a referral source, or someone you know could provide you with the types of referrals you want.
Now, write down the answers to the following questions for both people:
*What is the name of their spouse?
*What are the names of their children and how old are they?
*Where did they go to college?
*What types of pets do they have?
*How do they make their money?
*What are their interests outside of their jobs?
*What is the best and worst experience they’ve had with people offering your types of services or advice?
Typically, people are able to do a good job answering these questions for their very best client. (If not, that’s a data-point in and of itself.) However, most of the time, people do not do as good a job with the answers when it comes to the referral source. In other words, they are not treating the COI as a client. And as Shakespeare says, “therein lies the rub”.
It’s one thing to intellectually acknowledge that one should cultivate relationships with referrals partners in the same way as you would your best clients, but in reality most consultants and advisors don’t really do so.
This is but one component of the overall marketing strategy for developing strategic partnerships with a select number COIs who can refer you consistent streams of new prospective clients. It’s a topic that I’m working on with many of my coaching clients.
If this is a focus for you, perhaps you should consider Gentle Rain coaching. Additional information in HERE.
Thanks and I look forward to speaking with you soon
Mark
mark@gentlerainmarketing.com
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Not that it comes as any great surprise-but the goal of your website (whether it be a one page micro-site or your more extensive “corporate” website) is to capture the interest and curiosity of your visitor.
Naturally the question becomes, “What’s the best way to do that?”
There’s two things to keep in mind. What you say and How you say it.
Let’s talk about the second one today.
The good news is that we have a couple of different options. By that I mean we’re not limited to just text based websites. In all candor, if you really want to accelerate the relationship building process, and get a lot more people to opt in to your list, video is the way to go.
Which leads us to the next question-“What type of video should I create?”
The answer depends in large part upon what you’re promoting. Your company? A brand? Yourself?
If you’re in the advice-giving business, the emphasis is most likely to be on yourself. In that case, a short video of either you talking directly to the visitor, and asking them to take the next step in the process (i.e. request your free information), or the “interview” model in which you discuss an key issue the visitor is likely to be working on…either of these can be very effective.
Here’s an example of what I refer to as an interview format video. (Please be patient this may take a minute to load. If you get frustrated you can also watch it HERE)
Affluent Marketing Advice from Mark Satterfield on Vimeo.
In the consulting and professional advice business, it’s all about demonstrating competence and building trust. Competence is developed by the content in the Gentle Rain Drops that you send out after your prospect has opted-in to your list.
Video-since it’s an opportunity for people to actually see you, helps considerably in building trust.
Of course not everyone feels comfortable in front of the camera. In that case a corporate video that encompasses music, graphics and other visuals can be extremely effective. (In an ideal world you would do both.) Creating these corporate videos is a pet project of mine, but they tend to be more appropriate to the higher-end services providers since they’re somewhat expensive to produce, edit, score ect. (But that said, if you’re interested drop me a note and we can chat about it.)
Food for thought
Mark
Warning! This Link Is A Blatant Pitch To Get You To Buy Something
Without a doubt, the biggest question I get asked is, “How can I get more visibility without breaking the bank?” And, although it’s a simple question, the success of your business depends upon the answers you come up with.
Personally, I think there are 3 options you’ll want to pursue-especially if your goal is to grow your business as large as possible (or to become one of the highly recognized experts in your field).
The first is what I call “traditional” marketing. I’ve written a lot about that and if you want to learn more about it, I’d suggest you go HERE.
The second is social media. I’m particularly focusing on Linked-In, which for those of us who offer either B2B or high-value services, I think it’s the place with the most opportunity.
The 3rd leg of the stool is publicity and quite frankly, up to just recently, this was the weakest area for me. I didn’t need to be convinced that getting on radio, TV and in print had enormous benefits, I just didn’t know how to do it.
I hired two PR people over the past 5 years and might have well just flushed the money down the toilet. But, as I’ve shared with a number of you, my publicity efforts have recently started to gain enormous traction, and I owe it to one person-Steve Harrison.
Steve’s belief is that we can be our own best PR person if we learn a few basics, and I’m living proof that he’s right. I mean, what’s a guy like me doing on ESPN talking about Super Bowl ads? But there I was, and it’s all because of some simple advice I received from Steve and his team.
Which all leads up to my suggestion that you listen in to Steve’s free teleseminar this coming Thursday in which he and his guests talk about what it takes to get on the national publicity stage. Whether you have a book or not…whether you want national recognition, or just to be the proverbial big fish in a small pond…I guarantee that you’ll find the teleseminar valuable.
You can sign up HERE
As I hope you know, I only recommend people to you when I personally use their services. Steve is absolutely an “A” level player in this field (he’s actually the guy who launched Rich Dad/Poor Dad onto the national stage) so if you’re the least bit interested in getting the media promoting what you do, he’s someone definitely worth getting to know.
And the best way to do that is by sitting in on his teleseminar this Thursday which you can do by going HERE.
Trust, me-it will be a good investment of your time.
Talk with you soon,
Mark
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