How do consumers like to receive first contact from a financial advisor?
According to a 2004 study, "… consumers are more receptive to referrals than unsolicited contact." In fact, the survey revealed that the top three preferred methods of initial contact include friend/family referral (55%), company referral (29%), and meet at a seminar (25%).1
Further down the list were: receive a letter (15%), receive a phone call (6%), or receive an e-mail (2%).2
Yet, when most financial advisors and insurance professionals think about "getting in front of more people," they often focus on the consumers' least desired methods for making that first contact – a "cold" letter, phone call, or e-mail.
Don't get me wrong. These methods can play a role in your overall marketing plan. However, it's unlikely that they'll generate the same kinds of responses that the top three preferred methods might.
Research suggests that this is the case. Top producers prove it.
If you want to get in front of more people, you may want to consider investing more time in relationships versus investing more dollars in mass direct marketing.
