How to Turn Your Friends Into Clients

With what segment of the market do you feel you’ve made the fewest inroads? Is it boomers? Is it millenials? Whoever it is, it’s a good idea to customize your marketing strategy to appeal to the segment in question. It’s also a good idea to market your products to the people you have the best access to: your friends. In most industries, it’s acceptable to be friends with your clients. It’s also acceptable to make clients out of your friends. Leverage the breadth of your network to sell more products, and help your friends in the process. Here’s some advice to keep in mind.

Adopt the right mindset

To some, convincing a friend to buy a product or service you sell feels sleazy. If you’re a broker who feels this way, remind yourself that you’re actually helping friends when selling annuities or life insurance. Thinking along these lines, eventually suggesting to friends that a product you sell could really benefit them should feel more comfortable. You’re not a pushy peddler. You’re trying to help your friends. Don’t forget it.

Make a list

Think of everyone you know who may be a potential client. Write down the names of these friends and family members, and commit to talking to each of them about your financial products. If you don’t, you could be forgoing valuable business.

Chat about your work

The next time you see someone on the list, bring up the subject of their work. You likely know their professions, but do you have any idea what they actually do? Ask, listen, and be prepared to share a bit about what you do in return.

Subtly sell your services

This is an opportunity to pick up business from someone you know. Don’t make an elevator pitch or be too salesy. Definitely don’t ask a friend outright if they’d like to buy life insurance or annuities from you. Instead, ask if they know anyone who has not saved enough for retirement and is looking for ways to have more financial security and less stress during retirement. Imply that you can help. If this resonates with your friend, a seed will be planted. Later in the conversation or on another date, they just may come to you with a direct interest in your services.

Could you benefit from more advice on marketing financial products to people you know and people you don’t know? Brokers Alliance is committed to your success. To learn more about the personalized support and life insurance solutions we provide to independent brokers, call (800) 290-7226.