Our moms taught us to give before we get. Ends up, that’s great advice for your business as well. So, the question is how much should we give before expecting reciprocation? Obviously, that varies from person to person.
Many advisors assume it is a 1:1 ratio. If they give a prospect something and the prospect does not buy it, well, then they move on. I recommend the 8:1 ratio. Give people 8 value touches on average before you should expect engagement from a prospect. The great thing is that these valuable touches don’t have to cost you much if done right.
Value touches could be voice mails, digital or snail mail newsletters, postcards, videos, online or in-person workshops… any of these will work, as long as you give them helpful, actionable information.
So, if you want to create a reliable stream of incoming appointments… reset your give-to-get expectations:
- If you want an appointment… touch them 8 times with valuable information… BEFORE you even hint at them coming in for an appointment.
- If you want a testimonial… give them 8 value-added touches before you suggest they give you a testimonial.
- Looking for a referral? I’d bump it up to 16 value-added touches before you suggest they refer somebody to you.
Does this sound like a lot of work? Yes, but if you have automated systems in place, your workload can be cut by 80%. AND… you already spent the money to get that person where they are right now, whether they are a client or prospect, why not spend a tiny bit more money and some elbow grease to make the relationship pay off for you and them. Your only other option is to flush the money and effort you’ve already invested down the drain.
Give… Give… Give (at least 8 times) before asking for anything back. Do this and you will reap heaps of benefit.