4 Tips to Attract Wealthy Clients
By Drue Lawlor, FASID
Director of Coaching, Gail Doby Coaching & Consulting & Design Success University
Photo by Dana McGrath
Probably the first question to ask – have you defined what you mean by “wealthy” in the profile of your ideal client? Do these “wealthy” clients come from new money or old money and more importantly how do they spend? In other words, is their money solid or do they spend it as quickly as they earn it? A wealthy client who is willing to spend the money, but only after they understand the value of what you are proposing will usually be the client who, once convinced, will have the money in the bank to pay their bills on time!
1. Certain wealthy clients are usually accustomed to a certain kind of setting, and if you meet at your office, evaluate whether it is a positive tool to help you attract that client or do you need to do some work? What kind of feel does your office portray? If you work from home and do not have a home office that will send the right signals, then identify a location where prospective clients would be comfortable meeting. Maybe you are lucky enough to have a design center or industry partner with an impressive location to use to meet clients –or see if there is a city club that has reasonable fees along with a positive ambience and use it for client/business meetings. Offer a beverage and possibly special cookies from a local baker. It’s a matter of being gracious as the host/hostess and making them feel comfortable without overdoing it. Those prospective clients, who have what I called “solid” money, are usually not overly frivolous in their spending so be gracious, but show that you will respect their investment. If you go overboard trying to impress them, they may feel you may also go overboard with their investment.
2. Learn from other service businesses who work with wealthy clients. That’s were involvement in local groups such as Rotary, Chamber, etc. can easily connect you to these other businesses. Gain an understanding of what wealthy clients are looking for from these other businesses. Identify those whose ideal client profiles match yours. Take the owners out to lunch – study their marketing materials and how they approach their ideal clients. You’ll not only gain confidence but will also be able to build stronger relationships with those businesses as referral partners.
3. Develop and project an air of confidence –remember they may have impressive credentials in their fields, but they have come to you for your expertise in yours. Your expertise can be revealed by becoming identified as an “expert” through speaking engagements, writing articles, blogs, etc.
4. Most importantly, be sure you project a strong business sense! No matter how talented you are, they want to feel comfortable that your firm reflects solid business sense. This comes across in your culture, respect for their time, contracts, communication, etc.
And finally, remember that if you need help in any of these areas we offer a number of opportunities to help you reach the next level!