Fantastic Prospects and Where to Find Them

Have you ever felt like tearing your hair out because you just don’t know where to look for new prospects?

If so, the solution to finding fantastic prospects is surprisingly simple:

To figure out what your best prospects look like, and where to find them, first take a look at your best clients.

Add this to your “little black book of things known to be true”: your best prospect looks like your best client.

According to me:

“Your best prospect is someone who looks like someone who already buys your product or service.  So, we’re looking for a list of people who resemble those who already buy your product or service. Obviously, I don’t mean resemble physically.  I mean resemble demographically.  (Demographics is the study of population characteristics such as gender, income, and occupation, especially as these characteristics may affect buying decisions.)”

Bill Good, Prospecting Your Way to Sales Success

Now, what do I mean by “best client”?

To be honest, only you can decide who your best client is.  It could be the client with the largest net worth.  It could be the client who is most well-known in your community.  It could be your nicest client.  It’s up to you.  Either way, take that person and make a list of their:

• Age
• Gender
• Wealth
• Occupation
• Location
• Hobbies
• Charitable, social, and professional organizations they belong to

Once you have that information, your task is simple (though not necessarily easy): build a list of people who share as many of those characteristics as possible.

Here are some examples:

Example One: Your best client is a 62-year-old male who owns a construction company

What you’re looking for:

• Other construction owners in your area
• Owners of companies that work with or supply your client’s company
• Other business owners who:
  • Work out of the same building as your client
  • Work out of buildings your client helped build

If you can find people who meet any of these criteria and are around the same age as your client (meaning they likely have many of the same financial needs), even better.

Example Two: Your best client is a female Human Resources Director

She lives in a very affluent neighborhood and spends her free time working with the “Save the Namibian Elephant Relief Fund.”

What you’re looking for:

• Other Human Resources Directors. Chances are, there’s probably a “Society of HR Directors” organization your client belongs to, or even a LinkedIn® Group for HR Directors.
• Other people who live in your client’s neighborhood
• Other members of the “Save the Namibian Elephant” organization

If you can find women who meet any of these criteria, your chances of finding a good prospect go even higher.

Why All This Matters

There are two reasons why you should build a list of people who resemble your best client.

1. The odds are greater that your client will know at least some of the people on the list. That means your client might actually be able to introduce you!
2. Because you understand your client’s needs and issues, you may well have a better understanding of the prospect’s needs and issues. If so, you immediately set yourself apart from other financial advisors.

So, before you spend a lot of money and time on your next prospecting effort, figure out who your best client is and what makes them special.

Then, start building a list of people who look just like your client!  They’ll probably be the most fantastic prospects you’ve ever had.

Good luck!