9 Prospecting Methods to Build Your Financial Services Business

1. Cold call – While cold-calling isn’t the most popular job, it can be an effective tool to increase your customer base. Try these tips to make your cold-calling more effective:
• Call outside of traditional business hours – those you do get on the line will typically have more time to talk
• Don’t be afraid to leave a voicemail – it will be the first message your prospective client hears in the morning
• Remember to make a follow-up call if the prospect doesn’t respond within a few days

2. Network – Networking is a no-brainer for any financial services professional. Carry your business cards at all times - you never know when you’ll meet a potential client. Search online for events in your city and commit to attending at least one networking event every month.

3. Advertise online – Many consumers search online before making important purchases, and shopping for financial services is no different. Why not market yourself online? If that’s not your style, search out Web sites that offer free sales leads and online advertising.

4. Get referrals – The best time to ask for a referral is once you’ve closed a deal or made a sale. Don’t be shy; show your confidence in being able to provide your clients’ contacts with the same level of personalized service and expertise that you just gave them. Once you get a referral, make sure to contact the person as quickly as you can.

5. Build on what’s already established – Consider joining a reputable firm, like Nationwide Insurance, that gives you access to a large, untapped customer base. Only 5% of Nationwide’s big book of business has been cross sold, leaving 95% of its existing customer base virtually untapped. Learn more about available financial services positions at this established company.

6. Don’t underestimate the written word – While you may view direct mailers, newspaper ads and faxes as “old school” prospecting methods, they still make an impact on prospective clients.

7. Visit trade shows – Target the shows where your potential customers will likely be. Don’t give a generic sales pitch - strike up natural conversations and leave business cards in the hands of decision-makers. Also, don’t forget to get contact information so you can follow up.

8. Pursue public speaking – One way to build your career in financial services  is to seek out public speaking engagements that educate individuals on the need for financial products. This prospecting method is a modern take on the traditional canvassing technique.

9. Create your nest – Nesting is a proven financial sales prospecting method where you target a specific organization or industry. You then rely on referrals and networking within the organization until you have a solid “nest” of clients.

All these prospecting methods have the potential to expand your client base. However, did you know that by joining a company like Nationwide Insurance, you can grow your book of business with the prospecting methods that best suits your needs? You’ll also have access to their extensive client list.