For financial advisors, there’s not one magic formula for client acquisition. The industry itself is challenging and ever-changing, making it seem nearly impossible to nail down a solid client acquisition method. However, if you’re looking for a creative and effective tool, American Lifestyle magazine can play an intricate role in building your strategy.
It connects you with all members of the family.
In finance, building a relationship with the entire family is crucial to your success. Think about it this way. If something were to happen to the decision maker, would the other family members be able to recall your name? If you’re unsure of the answer, you’re not alone. In fact, only 2 percent of children keep their inheritance with their parents’ financial professional (PriceWaterhouseCoopers).
But this is where American Lifestyle magazine can come into play. Not only does the content keep you top of mind with the whole family, it opens up the lines of communication with the females in the house. According to a study by FWAC’s Women of Wealth, nearly 95 percent of women place a very high priority on communication and being understood. Which means that sending appealing content is a must. This content can ultimately help you retain women’s business and prevent future ACATs.
It acts as a subtle reminder.
Referrals are the backbone of any service-based sales profession, especially finance. But, asking for referrals can be a tricky and oftentimes, uncomfortable process. American Lifestyle magazine is a great way to reach out to clients, as you can tailor your Front Inside Cover Letter to the individual recipient. In your letter to current clients, for example, you can include information about how you work on referrals. This helps to break the ice and subtly remind your clients that you would greatly appreciate their help.
It helps you network while on the go.
For many, networking can seem like a daunting task. While networking events can be beneficial, your attendance isn’t as necessary when you send American Lifestyle magazine. With your magazine, every interaction that you have with someone can be turned into a networking opportunity. For instance, if you’re attending a community event such as a fall festival or simply spending the day supporting local businesses, having your magazine can come in handy.
The Tear Out Cards are the perfect takeaway and more memorable than business cards. In fact, 84 percent of readers save Tear Out Cards, giving you a permanent presence in the household (GfK Readership Survey). This permanent presence can turn into future business.
While client acquisition takes trial and error, including American Lifestyle magazine in your strategy can be beneficial when determining what works best for you.