How Clients Buy
I was introduced to the book, “How Clients Buy,” a few years ago by an eager associate (who is going to be one heck of a rainmaker one day). In it, authors Tom McMakin and Doug Fletcher, share a smart framework on the client buying journey.
If you are just learning about business development or find yourself hitting your head against a wall again and again because you aren’t making progress the progress you want, I encourage you to get yourself a copy of the book. McMakin and Fletcher do a great job of outlining - in easy to understand terms - how clients buy.
They say:
Prospective clients must, of course, become aware of your existence.
They must understand what you do and how you are unique.
Prospects must develop an interest in you and your firm. Your services must be relevant to their goals.
They must respect your work and be confident in your ability to do what you say you can do.
Potential clients must trust you to have their best interests at heart.
They must have the ability to engage you, which means they have sufficient authority, budget, and organizational support.
A prospective client must be ready to act. The timing has to be right. Sometimes all other conditions are met but some other priority supersedes.
So, how can you move prospects through this journey in practical terms?
Share your insights. Write blog posts. Engage on LinkedIn. This builds awareness and credibility.
Be visible. This is akin to #1, but goes further. Speak and attend events where your targets are.
Communicate what you do in layman’s terms, otherwise prospects won’t truly understand how you can help them.
Build trust and respect by doing what you say you’re going to do. Send that recommendation for a new financial advisor or lawn service. Forward relevant news or resources. Show them that you truly want to be of service.
As you get to know your prospect, you can begin asking questions to ascertain whether they have the ability to engage you and if they have have a project in the pipeline. By doing 1-4 above, you stay in the game.
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