“Coach’s Forum” is a place in which you can ask your questions, tell your stories or give your opinions on any aspect of practice management. For each column, George selects the most interesting and relevant comments from readers and offers his advice. Our objective is to build a community of people with a common interest in making their financial advisory practices as effective as possible.



> Client Appreciation Events

Advisor: I am putting together my marketing plan for 2010 and intend to include a few client events. I agree with a comment you made in an earlier column about not doing anything too splashy because some clients will object to the expense when they are still trying to recover losses in their portfolios. What types of things can I do to show my appreciation without going “over the top”?

Coach says: You are right to want to have some client events as part of your marketing program. In addition to continuing to express your appreciation for your clients’ loyalty during these recent tough times, these events also provide opportunity for you to demonstrate that your business continues to thrive, despite the impact of the economic meltdown. Clients need that confidence.

Of course, there are the introduction/referral opportunities that come with these activities as well. So, when you choose an event, think about the following:

> Does it fit in with the image of me and or my business?

> Will I be able to meet clients, one on one?

> How much will the event cost? Will anyone object to this expenditure?

> What do I hope to achieve from this event? Intrinsic value? Financial return?

> Will my clients mingle well together, or should I hold two events and segment my guests?

Next, decide on what type of event to hold. Here are some meaningful and relatively low-cost client events being used by other advisors:

> Office Open House. On the anniversary of your start in the business or the opening of your office. A simple wine-and-cheese event.

> Caesar Salad And Chili Cook-Off. Everyone has a favourite Caesar salad or chili recipe.

> Coffee And/Or Tea Tasting. A great alternative to a wine tasting.

> Berry Or Apple Picking.

> Rent A Bus To A Mystery destination. It could take the group to a museum, theme park or miniature golf, for example.

> Christmas Carolling.

> A Day At The Zoo.



> Getting Through A Gatekeeper

Advisor: I want to approach the owner of a business here in town that just announced a doubling of its plant capacity and the hiring of new workers. But I’ve heard that the owner is hard to get to, as he has a well-trained gatekeeper. Any suggestions?

Coach says: Whether you’re contacting a company for prospective business or courting referrals from accountants and lawyers, your chances of connecting will be greater if you do your reconnaissance and have a strategy for getting past the gatekeepers. Here are some thoughts:

> Step 1: Gather Your Intelligence. Before you make that first call, gather all the information you can on the company and its decision-makers. If the firm has a website, start there. Do a Google search on the executives for additional insight beyond their job duties, such as charitable or professional organizations to which they belong.

If you have a profile on LinkedIn, check for any connections you may have to the company or the decision-makers. Do any of your clients know the person you are trying to contact? How about your lawyer or accountant — any relationship there? A mutual acquaintance can help oil the hinges on the gate, but be sure to ask permission to use the acquaintance’s name.

> Step 2: Prepare Yourself. Have the proverbial elevator speech ready and test some potential scenarios, such as:

1. You get an automated system that dumps you into voice mail.

2. You get an assistant who will not put you through, but offers voice mail.

3. You get an assistant who will not put you through, but asks to take a message.

4. You get an assistant who puts you through.

If you get voice mail from the start, use the most concise version of your elevator speech — no longer than 30 seconds. Clearly state your name, your company’s name and phone number, spelling anything unusual or that might be misheard — Craig vs Greg, for instance. If you have a mutual acquaintance, mention his or her name and the connection to you and the decision-maker. Give your contact information again at the end of your message.

@page_break@If you get an assistant, always be professional, friendly and polite. The assistant’s job is to evaluate emails and calls for the decision-maker based on importance, so this gatekeeper often decides whether your message goes any further. Provide your name and your company’s name, along with a brief statement of the reason for your call; be sure to phrase it as a potential benefit for the person you are calling, not yourself. You may even ask for the assistant’s help in determining whether the person you’re calling is the right person for your information.

Best-case scenario: you get through to the decision-maker. Far more likely, the assistant will ask to take a message or put you through to voice mail. Instead, ask to set up a time for you to call back, perhaps with a comment such as: “I hate to waste Ms. Decision-maker’s time playing phone tag. If you have access to her calendar, perhaps we can schedule a quick five-minute call at a convenient time.”

You may still end up leaving a message or a voice mail. Before concluding with the assistant, be sure to get his or her name, title and email address along with the executive’s email address. Each time you call back, your goal should be to come away with another piece of information that you can use to build familiarity the next time you call.

If you want to get really good, role-play the call with your own assistant and have him or her throw every roadblock in the book back at you. The more objections you learn to handle, the more comfortable and prepared you will be.

Remember that phone and email aren’t the only resources available. Just as you might send a client a magazine article with a note — such as “Thought you’d find this of interest” — you can send an article relevant to your quest to the assistant, with a note saying, “I thought Mr. Jones might find this of interest.” Address the mailing to the assistant and include two business cards: one for the assistant and one for the decision-maker.

> Step 3: The Second Wave. Your first call shouldn’t be your last. If you got voice mail the first time, consider calling at a different time of day — perhaps just before or after normal business hours, when the executive may be less busy. If you get voice mail again, be sure to leave your
full contact information; don’t assume the person will remember anything from your first message.

If you reach the assistant again, try the same strategies as before, being sure to glean at least one more piece of information than you did the first time. You should also try to give just a little more information than you gave before, so you can build your case. You may want to send information about yourself or your firm, such as a brochure, that the assistant can pass on to the boss.

> Step 4: The Long-Term Engagement. Common sales wisdom says it takes at least six contacts to convert prospects from total rejection to total acceptance. So, consider it may take you six attempts to win the gatekeeper’s acceptance and gain access to his or her inner sanctum. Always maintain warmth, respect, honesty and good taste in your interactions.

As you get to know the gatekeeper, you’ll be able to establish the right tone, whether it is formal and to the point or casual and humorous. Never sound exasperated, whiny or desperate. If you find yourself being stonewalled and getting frustrated, take a month or two off and then resume contact with a new approach.

Periodically update your research on the company and the decision-maker, looking for a person, event or circumstance that you might be able to refer to in breaking the ice.

By learning everything you can in advance, preparing your responses to every scenario and cultivating a relationship with the assistant, you will eventually find yourself granted access to the decision-maker. IE



George Hartman is president and CEO of Market Logics Inc. and a senior coach and facilitator with the Covenant Group. Send questions, comments and opinions on any aspect of practice management to george@marketlogics.ca.