It happens all the time. An adviser plans a high-end client appreciation dinner or wine event and spends weeks planning every aspect. The dinner menu, the flowers, the drinks, the guests to invite, the seating arrangements—everything is carefully thought through.
And since the adviser is a generous host, clients are invited to bring a guest. The adviser is casual about it but hopes clients will bring along a great prospect, perhaps an executive-level peer. And then the big night comes and the clients show up promptly, ready to have fun—with their 14-year-old daughter in tow.
That’s frustrating. Disappointing. And a missed opportunity! As the host of the event, it’s your job to make sure people know what to expect and whom they should bring to your gathering. It’s great that you want to meet new people, and your existing clients are wonderful sources of prospects for you. But rather than leave it up to clients to bring a friend, it’s far more effective if you can suggest an appropriate guest.
Listen for Name Drops
When you meet with clients, of course you listen closely as they talk about the people, places and activities that are important to them. But you should also be sure to ask questions, when appropriate, to learn more about their golf foursome, book club or brother who moved to town. Keep track of the names that come up in these conversations so that you have a ready pool of good candidates for your business and events. It’s easy from there to say something like the following:
“You mentioned recently that your tennis partner is a lot of fun. I’d be delighted to have her and her husband as my guests at the dinner as well.”
Hopefully, you’ll get to meet the prospect who would be a good fit for your firm (which you know because you’ve Googled her, just to make sure.) But even if that doesn’t happen, your clients will understand the type of person you’re looking to meet by the names you’ve brought up.
Look for Leads
In addition to your own research, you can leverage LinkedIn to find out whom your clients know. Simply visit their profile and click on “See Connections.” This list will quickly and easily give you some ideas of people to suggest your clients bring, and you’ll be able to learn some important details about these people—perhaps their involvement on a hospital board or a past job or charity work.
If all else fails, and you still want your clients to bring a prospect, try something simple, like this:
“I’d like this wine tasting to be as much fun as possible for you. As you know, we won’t be talking any business—this is purely for pleasure. Is there a friend, or a couple that you know, who also shares your passion for red wine? If you’d like to bring them along, I’m happy to welcome them. And you know you’ll have a great time.”
This should keep the 14-year-old daughter at home and hopefully open up the invite to a promising prospect. With these tips in mind, you’ll have more enjoyable events while growing your business at the same time.
Joni Youngwirth, managing principal, practice management, at Commonwealth Financial Network®, Member FINRA/SIPC, helps advisers develop the mindset and systems to grow their businesses to the next level.