Monday, December 2, 2013

Sales Prospecting For Financial Consultants Using Social Media

An extract from the Singapore Social Media Consultancy CW Fong & Associates ...

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Since March this year, CWFA has highlighted the need for Singapore property agents and financial consultants to prepare for the introduction of the Do No Call (DNC) Register.

With the introduction of the DNC register, traditional ways of sales prospecting via SMS marketing or tele-marketing have become obsolete overnight. Agents and Consultants who did not prepare will now need to play catch-up with those that heeded our advice and began using social media for sales prospecting.

One effective technique we teach our clients is what we call "sphear fishing". Unlike SMS and tele-marketing, which is akin to trawling, sphear fishing is based on the use of indicators to identify clients who need your product or service.

For example, Financial Consultants can  systematically comb their friends status updates on Facebook to spot changes in life-style. If a friend has a new born, you can approach them to establish an endowment policy. Or if a friend has mentioned going overseas for a holiday, you can approach them to buy travel insurance. The opportunities are endless. And the best parts are that you can prospect from the comfort of your home and you can literally cover hundreds of friends in a day.

Social media platforms like Facebook are a powerful tool for sales. Used wisely, it can make you more efficient and effective in selling your product and services.

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To learn about the importance of the Meet and Greet in the sales process, click here.

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