Client Segmentation has remained a popular approach to targeting customers. Client Segmentation means dividing the customer base into groups, because a group of people share certain unique characteristics which are commonly shared by all in the segment, so the marketing strategy can be aligned in accordance with those unique characteristics. Customers are segmented on the basis of various parameters like their age, income, education, nature of employment, community they belong to, etc. And one such segment, gaining popularity among financial advisors is the Corporate sector. Corporate Employees has become an attractive client base for advisors because of numerous factors like higher disposable incomes, a regular monthly income, annual bonuses, lesser reluctance in terms of preference for traditional investment options, etc. Many financial advisors want to develop their niche in the sector because of the above factors and also because of a huge customer base clustered at one place.
In this passage, we will share with you some tips on how you can go about targeting people working in corporates:
> Entry: Getting the first or the initial few clients in a company is the challenging part. If you have an acquaintance working in a company, he/she can escort you through the organization's portals. Or may be you have to look for someone, a friend or a relative, who has an acquaintance or a friend working in a particular company, can help you permeate.
> Social Media: You can also use social media platforms such as Facebook or LinkedIn to approach employees of a particular company. You might have some mutual friends on Facebook who can introduce you to your target. There are groups on LinkedIn which may have most employees of a company in the group, you can contact people from these groups.
> Seek Referrals: Once the introductory part is over, then referrals are the gamechanger. You must ask your clients to introduce you to their other colleagues and that's how you can expand your client network within a company. It is very important that you maintain utmost service standards, even if the clients have small portfolios. Your work will speak for you and will help you get more and more investors from the organization. If you ignore a small investor, a negative word of mouth can shatter your desire to embark on the company altogether.
> Partner with the Company: Organizations nowadays care for and work for their employees' welfare. You'll see companies running gyms, yoga classes, dance sessions, soft skills trainings, etc., to constantly upgrade their employees' merit and lifestyle. These companies are likely to welcome an opportunity which can impart financial security and mental peace to their employees. You can also research for companies having employee friendly policies and approach the HR head or top management of such companies and communicate your intention to advise their employees on their finances. But you must remember that your positioning matters here, you should be perceived as a financial expert who will transmit financial awareness among the employees and is here to bring about financial security in their employees' life and not as someone who has come to “sell” Financial Products to their employees.
> Conduct Presentations, Seminars: Talk to companies' HR's for conducting awareness sessions for employees like you can give presentations on topics like “Planning for Retirement”, or “Investing in Mutual Funds can be started with an amount as small as Rs 1,000 a month”, or “Creating an Emergency Fund”, and other personal finance topics, which are going to encourage more and more people to participate.
At the end of the presentation, don't forget to:
- Solicit for questions and feedback, if someone asks a question it means you have touched the right nerve. You can talk to these people personally after the presentation and discuss their query and the solution that you may have for them.
- Hand out your visiting cards
- Talk about the products and services offered by you.
- Follow up with the participants. You can share industry updates or personal finance insights with the participants through WhatsApp messages or E-mails, subject to the participants' interest. It is essential that you seek permission from the employees before sending mails or messages.
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