Last week, we discussed assembling a list of your “ideal prospects”, and creating a special marketing effort specifically to them that is on top of your regular lead generation marketing and follow up marketing.
This deal client prospecting campaign is established with the distinct goal of creating a relentless, never ending effort to literally have 100% of these prospects become your client. For most firms, this list won’t be that long. It may run from as little as a dozen ideal prospects, to at most a couple hundred.
Who is on your ideal prospect list? It really depends on the nature of your practice and your areas of specialization. Here are some examples of ideal prospect lists:
- All companies within a 25-mile radius of your office with 50 to 250 employees.
- All tax debtors within a 4-state region that owe more than $500,000 to the IRS and earn 7 figures annually.
- Owners of homes assessed at greater than $1.2 million within one ZIP code that are also boat owners.
- 941 tax debtors owing more than $150,000 and annual revenue greater than $5 million within your greater metropolitan area.
- Families in your city with more than $2 million in liquid assets.
As you can see, these prospects are special because they have specific characteristics that are desirable to us as clients. They represent high-value clients that will pay us substantial fees and will stay with us as clients for years and years.
These high-value prospects are worth a special marketing effort that essentially never ends. I would suggest a marketing effort that contacts these ideal prospects at least monthly, if not bi-weekly or even weekly, with some sort of “touch”. Since the cost of a typical touch is only $1, or even less, you can market to a list of 100 such prospects on a weekly basis for only $5,200 per year, which is a drop in the bucket compared to the value of of one such client in terms of the fees that just ONE of them will pay you over the course of a business relationship.
What does a year-long, weekly touch program look like? It can be as simple as this:
- 12 monthly newsletters (covering tax advice, asset protection, wealth management, etc.)
- bi-weekly postcards offering a free report, briefing, webinar, live seminar, interview recording, etc.
- one phone call per month
- Birthday card, anniversary card, Thanksgiving card
- Invitation to a private client event (BBQ, family fun day, etc.)
As you can see, this marketing program is neither elaborate nor expensive, but is worth every dime. When you obtain a client that pays you $25,000 per year in fees for several years, this entire marketing program is paid for forever.
If you don’t have an active campaign to target your ideal prospects, above and beyond your regular lead generation marketing, then I would highly encourage you to identify your special prospects and begin marketing to them.