Happy New Year!
We support attorneys, CPAs, certified financial planners, dentists, plastic surgeons, and insurance brokers and real estate brokers.
Every business has a different new client acquisition characteristic and not every business development design works across the board.
321 Biz Dev has worked hard to provide unique new client acquisition solutions based on actions businesses must perform to connect with prospects and successfully close deals.
Let's highlight the growth nuances, business development environment and some preliminary growth steps for each industry.
Attorneys
Nuances
Excluding business law and estate planning attorneys, no one needs an attorney until he or she needs an attorney.
For criminal defense, accident injury, worker's compensation attorneys, these events are not planned. Therefore, there is no predictability in finding new legal clients.
Business development
Billboards, bus and mass transit advertising, and radio and television commercials attempt to capture clients at the exact moment when legal services are needed.
321 recommended growth steps
To add predictability, attorneys should create a database of people (500 or more) who may not need services today, but will tomorrow. Monthly newsletters and podcast episodes keep attorneys on the top of contacts' minds.
CPAs
Nuances
Our research and feedback show many independent CPAs provide mainly income tax services. However, the AICPA (American Institute of Certified Public Accountants) has written articles encouraging CPAs to become trusted advisors to small business owners.
Business development
CPAs probably have the least difficulty in finding new clients. New client acquisition typically means taking another CPAs client.
321 recommended growth steps
CPAs, positioning their practices as trusted advisors, have the greatest potential to grab marketshare.
Certified Financial Planners/Insurance Brokers
Nuances
Not many nuances. The financial services industry will always be driven by establishing personal relationships and improving listening skills. 321 Biz Dev used the financial services as the backbone for our sales system and business development training. Many financial professionals are afraid to make contact with strangers.
Business development
Social media is ineffective for growing a financial services practice. Podcasting is magnitudes more effective than social media.
321 recommended growth steps
Constant prospecting and building referrals through providing great sales experiences are the best methods.
Dentists
Nuances
The dental industry is either in feast or famine mode. While some dentists are successful due to location-location-location, others are struggling due to poor marketing practices or consumers distrusting dental treatment recommendations. Many dentists carry high account receivables due to patient slow pay.
Business development
Dentists probably have the most difficulty in finding new patients due dentists waiting to be selected by patients from dentist provider directories.
321 recommended growth steps
Dental practices need to market to companies and add the majority of employees at companies as new patients.
Real Estate Professionals
Nuances
Like attorney nuances, no one needs a home until he or she needs a home. Plus, real estate is not a quick, repeat business transaction. Often a repeat buyer or seller completes a transaction, on overage, every 7 years.
Business development
Real estate agents who do well farm neighborhoods.
321 recommended growth steps
Real estate agents need to prospect in public at stores, banks, coffee house, youth sporting events, etc.
321 Biz Development has business development options for most companies offering products and services starting $1,000 and higher.
Please do not hesitate to inquire about our 6-9 hour sales system and business development training program.
We hope you enjoy this article and podcast episode.
Rick Nappier, President
321 Biz Development