May 5, 2009
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Among the key reasons for Barack Obama’s successful presidential campaign was the unprecedented $500 million he raised online. One of the tactics he used has direct relevance to financial advisors looking to attract new clients.
Other Articles by Dan Richards
A Five-part Conversation to Rebuild Market Confidence
Becoming the Fall Back Advisor for High End Prospects
Five Steps to High Impact Client Meetings
How to Consolidate Client Assets
Lessons from the Loss of a Multi-Million Dollar Account
Overcoming a Key Barrier to Moving Accounts>
Structuring Your Day for Maximum Productivity
Talking to Prospects about Last Year’s Performance
The End of Prospecting
The Pendulum Never Stops…
Three Myths of Market Underperformance
Twelve Pieces of Good News in the Gloom
Twelve Tips for Motivation in 2009
What to Say When You’ve Said It All
Rather than asking for donations online, the Obama campaign’s online advertising had the single-minded objective to get people to sign up for their email list, agreeing to receive more information. The reason for this was quite simple – obtaining an email address and the owner’s agreement to receive future communication about the campaign was vastly more valuable than a single donation.
That’s true when it comes to raising money for a political campaign – and it’s also true when it comes to communicating with prospective clients.
In the past, advisors talked to prospective clients with the goal of doing immediate business –getting an order over the phone or obtaining an appointment to talk about the prospect’s circumstances and portfolio.
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