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When I speak with advisors all over the country, I find one common mistake: they spend more time networking with their peers than they do within their target market. Networking with peers is an important part of building your business, since you can share ideas, experiences and best practices. Tremendous value also stems from joining professional associations in the financial services industry for continuing education and professional development purposes.
However, don’t limit your involvement in professional associations to your own profession. To actively market your business, spend more time with professional associations that pertain to your prospective clients than for your own industry.
You don’t need to be a member of a specific profession to join their association. Many professional associations have associate membership levels for the individuals who serve that particular industry. You will find that joining a professional association outside your industry will benefit you in three ways:
- The meetings provide you with access to dozens, if not hundreds, of ideal prospective clients
- Involvement with the association differentiates you from other financial advisors
- You can position yourself as an expert in that specific industry
Access your target market
Joining a professional association and attending the meetings provides you with an opportunity to directly reach members of your target market in one venue. Often I hear advisors grumble, “I don’t know how to reach my target market.” Well, if the target market is part of a specific profession or industry, then the problem is solved by joining an association. Getting time in front of a busy professional can be difficult, if not impossible. The association meetings provide you with valuable face time with your prospects that you would otherwise be unable to secure.
