Guaranteed Ways To Get New Clients and Become Very Successful

Published: 27th April 2012
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By: Lance Wallach

The new way to get more business is through psychology.

A question you may want to ask yourself is; do your words and images attract the type of clientele you want to work with? One thing that I have noticed in the insurance industry is that many insurance relevant messages never get heard. They’re the wrong messages sent to the wrong target markets. The most absurd reference we have seen is referring to “boomers” as “seniors”. Yet another example is approaching retirees in hopes of doing investment planning for them. Both of these methods indirectly tell retirees as well as others that your offer is off target.

Are you someone your intended target market would easily and quickly gravitate to? Do they find you immediately trustworthy and credible? Do they like you? I think that that many advisors who work with retirees are indeed credible, but they are not good at demonstrating their credibility. As a result, many people they meet don't easily trust them. When you get the square peg matched up with the square hole, you have far better potential for success. But few people in the financial industry understand this point. Instead, they spend vast sums of money publishing and transmitting the wrong messages to the wrong people. In essence, they are trying to fit a square peg into a round hole.

The obvious mismatches include investment options with too much risk or not enough flexibility. But the most important mismatches involve emotional issues – emotional issues meaning the things that help your prospect feel safe with you. Some examples of this include:

A personal phone call from the advisor
Clear descriptions and directions
Content written in the language of your target market
Relevant information, rather than an endless sales pitch
Pictures of staff members on your web site

Part one in attracting a new client is creating a feeling of safety and maintaining a comfort level. If you don't know how to make the prospect feel safe and comfortable, chances are nil that you’ll get far enough to write new business with him.

Once you have found your target market, does the psychology imbedded in your marketing match up with it? Let’s say, for example, our target market here is business owners. Do the specific words in your marketing resonate with and attract business owners? In most examples that I have seen, the answer is “no.”

Business owners tend to be highly proactive people with a very deep understanding of their business processes, and with a sharp eye on whatever affects their bottom line. Agents, advisors, planners and analysts tend to be a very different type of person. They might be proactive, though many are not. They might understand processes, but not necessarily business processes. And, they might keep an eye on the business’s bottom line but that is not always the agent’s most important priority. I find that most high net worth people -- many of whom own businesses -- choose their financial advisors through referrals or from articles or books that they have read about subjects that concern them.

Here I am going to give an example of how mismatching can happen when trying to market a targeted audience. Let’s speak about engineers. Think about the psychology of your average engineer. They tend to be highly analytical and need resources and claims to be substantiated with a lot of research. They also communicate in compound-complex sentences, so if your marketing material doesn’t contain those types of sentences, you might turn them off. Some of the words engineers respond to include: tool, process, resource, research, system, strategy, workable, and effective. If your marketing effort toward engineers doesn't include this type of language, it may be off target in the sense that the engineer cannot relate to what you are trying to say. Engineers are compulsive researchers and tend to trust conclusions drawn by other engineers. If you match the right marketing psychology to a couple of engineers, you will likely tap into an enormous referral network. Usually you need to spend twice as much time with engineers because they need to understand every last detail, even details that are not relevant to what you are trying to market to them. Unfortunately, most advisors don't like their advice being questioned, so they avoid engineers, thus missing out on one of the most affluent target markets in America.

There is an unwritten philosophy that if it’s in print, it must be true. This is a joke, but a lot of people believe what they read in newspapers, books, magazines, etc. If you need help with a subject, and read an article written by someone who is knowledgeable about that subject, you may be more likely to wish to call him or her for advice. I write for numerous publications but that is not how I earn my living. Most of my income comes from the people that have called me for help after they have read material that I have written and published. They call me because I am the perceived expert since I have been published on a subject that they are interested in. I have been operating like this for over thirty-five years. Anyone can do business like this. Get published first, then show your people your article and watch your business grow.

Many of my friends, associates and others have coauthored articles and books with me. They are always amazed when their phones start ringing with prospects calling them. The people calling saw their name and want help.

I have shown many of my friends how to make lots of money while helping people. It is surprisingly easy, if you do the right things the right way. Here is an example; a few years ago a good friend of mine wanted to move to Greenwich. He is a financial planner, smart and honest. He just needed a little push and some direction. I showed him how to get published and how to get on TV. Within a year, he had enough money from business that was generated by his being publicized to buy a nice house in Greenwich, CT. Another example is an accountant friend of mine. He wanted to go into the life insurance business, but was not an outgoing individual. I coauthored a book and some articles with him. That following year, he was the number 6 salesman for a very large insurance company. He sold more life insurance than 10,000 other agents and brokers that did business with the large insurance company. He gets almost all his business as a result of being published. Imagine that. A “no personality CPA” becoming a highly successful agent, and it happened in his first year in the business!

The more you learn about how to apply psychology and perform therapy on your own messages, the more successful you can become. Most people believe that if it’s in print, it must be true. By getting published, you become the expert, the go-to to guy for help. You are no longer competing with all the others. You are now seen as the expert and people will seek you out. I am not that smart, outgoing, or nice looking. I became very successful using the above ideas. It was easy and fun. So what are YOU waiting for?

Lance Wallach, National Society of Accountants Speaker of the Year and member of the AICPA faculty of teaching professionals, is a frequent speaker on retirement plans, financial and estate planning, and abusive tax shelters. He writes about 412(i), 419, and captive insurance plans. He speaks at more than ten conventions annually, writes for over fifty publications, is quoted regularly in the press and has been featured on television and radio financial talk shows including NBC, National Public Radio’s All Things Considered, and others. Lance has written numerous books including Protecting Clients from Fraud, Incompetence and Scams published by John Wiley and Sons, Bisk Education’s CPA’s Guide to Life Insurance and Federal Estate and Gift Taxation, as well as AICPA best-selling books, including Avoiding Circular 230 Malpractice Traps and Common Abusive Small Business Hot Spots. He does expert witness testimony and has never lost a case. Contact him at 516.938.5007, or visit

The information provided herein is not intended as legal, accounting, financial or any other type of advice for any specific individual or other entity. You should contact an appropriate professional for any such advice.

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