My friend Alice Tang remembers her first days as a financial advisor when all she did was cold calling. Yep, for eight-plus hours a day she tried to grow her book of business by working her way down a call list, hoping to set up meetings. Luckily her perseverance worked, and today Alice is vice president of BPG Wealth Management, LLC. Equally lucky for Alice, her start came in 1994 when the Internet was in its infancy.
Today, the Internet is no baby; it’s a mature ruler that dictates both business-to-consumer and business-to-business selling. If Alice tried to start her financial services career today the same way she did in 1994, she would fail.
Purchasers have the power of the Internet at their fingertips and they expect, no demand, relevant information, nurturing and relationship-building. Selling must now include social selling so you can work smart and create those connections to rock your sales.
Consider the Franklin Templeton Insights to Closing a Sale survey showing that “81 percent of plan sponsors actively sought advisors through recommendations or referrals from colleagues, peer organizations or retirement plan service providers” but only a quarter of them responded to cold calling! If these numbers are not shocking enough, you must realize this study was done in 2012 and social selling has gained even more importance since!
So, what are you going to do? A few years back IBM initiated social selling and increased sales by 400 percent! Crazy, right? If you’re ready to learn the ins and outs of social selling in the financial services world, and escalate your sales, please sign up now for pre-launch details on my new eCourse: Social Selling for Financial Advisors.
P.S. If you want to hear more about Alice Tang, check out my Women Rocking Wall Street podcast, Toughing it Out.