As part of our countdown to ASCEND and of course, to the new year, we’re giving you a powerful method for attracting new, ideal prospects to your benefits agency.
This method is called The Law of Market Gravity.
The Law of Market Gravity works the same way and is based on your firm’s sphere of influence. The more massive your firm’s sphere of influence, the more attractive you’ll be to your preferred prospects.
There are three components that determine the “mass” and “attractiveness” of your sphere of influence: Visibility, Credibility and Authority.
As 1, 2 or all 3 of these components increase, your firm’s sphere of influence also grows making your firm more attractive to your ideal prospects. Most firms only focus on Visibility and occasionally on, Credibility, but very few benefit agencies utilize an integrated approach to consistently leverage and increase all three.
Only by gaining the attention and interest of your ideal prospects will you be able to increase the mass of your sphere of influence. Through publicity (submitting articles and press releases media outlets) as well as delivering live seminars and presentations you will create higher and much more attractive local profile. Naturally, there a many strategies to gain visibility beyond what has been mentioned here including: hosting webinars, attending networking events, sending out emails or direct mail, cold calling, etc. However, the key is to be visible in a way that provides the most value to your ideal prospects.
To attract ideal prospects to you, you must be credible in their eyes. To that end, you must communicate to them how your expertise, experience and past successes will benefit them. Share your accolades and achievements in a way that helps your ideal prospects realize that you can do what you say you can do and that your solution will is believable and proven. Leverage success stories, case studies and testimonials to let your prospects know you are who you say you are and that you can do what you say you can do.
Of the three components of the sphere of influence, authority is the most underused. Becoming known as the “authority” in any industry or on any topic requires you to demonstrate your knowledge and skills to your community and specifically, to your potential clients. Live presentations provide an accessible way to easily demonstrate your expertise and abilities to groups of your ideal prospects instantly giving you authority in the marketplace. If you are not finding ways for your firm to meaningfully demonstrate its abilities, then you’re missing a huge component. As an early step in their marketing process, we teach our clients to offer a complimentary assessment to their prospects. This provides a platform that an advisor can then use to easily and effectively demonstrate his/her knowledge and skill to the prospect.
Ideally you want to leverage strategies that don’t just focus on one of these components but rather helps increase all three simultaneously. Such methods include hosting or delivering live presentations, hosting webinars, writing articles, publishing a book, being interviewed, etc. Consider how your firm can improve in each of these three areas as quickly as possible and you’ll start to experience accelerated growth.
Finally, when all three components overlap in your marketplace, you’ll start being perceived as the “preeminent” choice and at that point, attracting new accounts becomes the default position of your firm.