There's no secret sauce: How intermediaries turn leads into business

South Africans are more concerned about their finances than their health. This finding in a recent Deloitte survey presents a significant opportunity for advisers to build their client-base and strengthen their existing client relationships. When it comes to turning leads into lasting relationships, there’s ‘no secret sauce’ says Sorita van Wyk, Client Lifecycle Manager for Retail Affluent: SanlamConnect. The best way to bag new business is to treat every lead like a precious opportunity. “If you care for it, you’ll work for it. You’ll personally make the effort to follow up and spend time cultivating a connection with prospects. You won’t entrust that task to anyone else.” As the pandemic progresses, this is more important than ever before. In times of crisis, people are reaching out for reassurance, empathy and understanding. First and foremost, she stresses the importance of nurturing existing relationships. “Your clients need reassurance in ordinary times, but they’re especially vulnerable during a crisis. Ask yourself what you can say to reassure them. What actions do you want them to take? How can you help them not only stay the course, but strengthen their financial position? Advisers can build tremendous goodwill (and do business!) in trying times.” Sourcing new leads Van Wyk believes the best way to source new leads is to have the courage to ask for referrals. “It’s inexpensive and easy, if you do it in the right way. Simply say something like, ‘I really value your business. If there’s someone that you know that needs help with their finances, please think of me. I’d be happy to help in any way that I can’.” Once you have a lead, spend time on it. “Some intermediaries give leads to their back office to follow up on. It saves time, but do you get a good return on investment? No. Because nobody can talk to a client like you can. You have the skillset that is required to listen to a client over the phone and make a determination if you can help them. “I had a conversation with an adviser last week who has an incredible track record with leads. Her recipe for success is to A) Follow up on every lead herself. If she can’t get hold of a prospect, she sends them a WhatsApp message to introduce herself and give her number. B) She repeats the WhatsApp message again, if necessary. The effort she goes to is what differentiates her from intermediaries. She optimises every opportunity. That’s her secret sauce.”

Building lasting relationships In the current climate, advisers have the chance to strengthen their value proposition simply by showing up. “Building goodwill during a crisis will pay dividends for years to come. It can be as simple as reaching out with an unadorned message like this, ‘I know things are a little unsettling right now. How are you holding up? Remember, if you’re unsure about anything, I’m happy to help in any way that I can’. “Clients want to know that you care about them and their goals. They care about the things that are uniquely human. Acknowledgement that things are unsettling at the moment. Reassurance that you’re here to help. Encouragement that they’ll be ok. And hope that things will get better. That’s what builds confidence.” Right now, many intermediaries need a mindshift. Digital is here to stay. “If you believe in the mantra ‘be where your clients are’, you need to adopt an omnichannel approach. You need to curate and work on your online personality and presence – it’s one of the most cost-effective ways to build relationships and be noticed by prospective clients. Buth rather than obsessing over the channel (email, website, social), think of it simply as one human looking to engage with another. There is nothing more attractive than a relatable, human connection – in real life or in a digital setting. When you think of it in this way, then the channel really becomes irrelevant. It’s the connection that’s key.” Ultimately, it’s about building trust. Van Wyk adds, “Trust is the currency in a relationship. It’s not something you can demand from a client. You earn it over time, by showing up. By being there in a crisis – and in times of prosperity. By encouraging clients and giving them confidence. “If you’re a financial adviser you work with people. You work with intangible things – clients’ dreams and aspirations. Their futures. Their hopes. These are uniquely human things to work with. So, make humanness central to your approach. Clients care that you care.”