Best Strategies to Boost Year-End Business

Many sales professions operate on a year-end target, which means the final weeks of the year can be very hectic. How can you squeeze the most out of this period and make every day count? While there are a myriad of methods to help you court and retain business, a few tried-and-true strategies remain key.

Know your opportunities

If crunch time has arrived and you feel buried under the mountain of work ahead of you, it’s essential that you take a step back and evaluate what you can accomplish now. According to LifeHealthPro, the first step for boosting business at year’s end is identifying the most actionable sales opportunities right off the bat. If you’ve been keeping track of your leads and ranking them based on the likelihood of a sale, now is the time to act on those. Look closely at each lead and ensure that every step has been taken to move them along toward the final goal of closing the sale.

As PropertyCasualty360 noted, one of the biggest killers of sales success is a lack of adequate data collection. Too many companies still rely on spreadsheets and paper forms to conduct business, track results and perform other day-to-day tasks. This means slow, repetitive and clunky operations, and this typically gets passed on to the client. Being too slow to gather and react to compelling data, especially when it could demonstrate your benefit to the client, is one of the best ways to destroy confidence in your abilities, not to mention your bottom line. According to a recent study from Technavio, the global market for paperless document management is expected to grow at a rate of 14 percent per year over the next four years. Clearly, firms of all sizes still relying on paper will be left in the dust. When analyzing data and working promising leads in an effort to move them along, focus on asking specific questions tailored to data you’ve gathered. If you haven’t already, give them some hard numbers on how your services will benefit the client in hopes of finalizing the sale.

Demonstrate value

In tandem with the goal of collecting more data and compiling it efficiently, LifeHealthPro recommended giving clients a compelling reason why they should pay for your services, especially in considering you over another provider. The usual options for conversion – emotional appeals about the importance of life insurance or estate planning, for example – may not work when it’s your business against another. With high net worth clients, even price may not be the deciding factor. Instead, the quality of your service must be what sets you apart.

“Without a compelling reason to change, your prospective client won’t feel any urgency to move forward now,” contributor Anthony Iannarino wrote. “Because you have limited time, you need to focus specifically on opportunities that have a compelling reason to change because they are most likely to give you ink before the end of the year.”

One of the best ways to demonstrate value to a client without getting them bogged down in data is by streamlining the entire process of onboarding. As PropertyCasualty360 noted, you don’t want to make the client work. Instead, do as much work for them as you can. Avoid having potential clients fill out tedious forms or answer redundant surveys whenever possible. Obtain this information in a conversation instead, and do the legwork yourself. Find out more about the client and research the best options for their coverage and investments. Time is valuable, especially with high net worth clients. To move from deep red into black by year end, demonstrate how your service will save them time and much more.

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Highland Capital Brokerage

Highland Capital Brokerage

Highland Capital Brokerage is committed to developing client-focused relationships with financial advisors using our core competencies of life insurance, annuities, and long-term care. We distinguish ourselves by providing point-of-sale support, advanced marketing, and creative estate and business planning techniques.
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