Every wholesaler that I have ever known has had this dilemma:
“Rick” is a great prospect. He writes a terrific amount of overall business, writes business in your product wheel house, was open and engaging during the first meeting, works at a focus firm, placed a lit. order with you and promised to get on board.
And that is as good as Rick is going to get.
He’s promised a bunch and he’s not going to write a ticket.
What are some things that you can do to light the fuse with Rick that will ignite his production?
1. Use your mastery of Forward Scheduling to stay in front of him. Don’t let too much time pass, if he’s a hot prospect, even if your normal rotation has him in an 8 week queue.
2. Get busy with your meeting follow up:
- Send a note – handwritten
- Give your internal partner explicit instructions regarding follow up – topics as well as time frame
- Phone him back within one week yourself
3. Get Rick engaged in a conversation about a client event. Any client event.
4. Start a discussion about a social event with him that plays to his interests as you learned via your expert questioning during the initial interview.
5. Start (or add him to) a monthly newsletter list that you send to your VIPs
6. Put him on your Premier Prospect List (you have one, right?)
7. Invite him to a monthly Producer Business Builder Teleconference that you hold exclusively for your territory.
8. Close Rick for a next action step during the initial meeting: “Do you have enough information about the Foonman Funds Extraordinarily High Yielding Short Duration Peruvian Government Fund (FFEHYSDPGF), our process and our returns, to present this to three clients over the next week?”
9. Find a Point of Connectivity that you have in common with Rick and leverage it. “Rick, Corner Office Jill, who I know is a mentor of yours, writes a TON of FFEHYSDPGF and speaks highly of our firm”.
10. Use a Center of Influence to find out more ways to win Rick’s business and gain a strategic advantage with Rick.
How do you go about lighting the fuse? Tell us in the comments below.
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