08 Jul 2019

Target market v.s. Natural market: Which is better for you? (Part 1)

Natural Market

What is Natural Market?

The natural market comprises relatives and friends around you. It is an important first step to build a pool of clientele. The market has three sub-categories which include a hot, warm and cold natural market

People in the “hot” natural market are relatives and friends whom you constantly stay in touch with and meet up with. 

“Warm” natural market are those whom you follow and catch up through social media from time to time.

Clients in the “Cold” natural market are people such as distant relatives and acquaintances that you rarely talk to before and do not know their values and personality well.

Is it good to prospect your natural market?

A natural market strategy is a good way to start building your business. Your close friends and relatives may share common grounds as you, such as values and interests. They will also be more willing to meet up and listen to you. Your natural market is possibly the best market to search for prospects who will eventually become your ideal clients.

Why is it still hard to prospect your natural market?

Many advisors are afraid of straining the relationship between their friends and relatives. It also affects your emotions when being rejected someone you are close to. 

How to prospect your natural market?

Well, not everyone is suitable to be a prospect. For the natural markets, we recommend you to target your hot and warm, not cold market.

For the warm target market, as mentioned above, using social media would be a good platform to reconnect with them again.

Most of the time, advisors would be afraid of directly asking their friends and relatives to buy their products. They usually end up beating the bush. However, advisors should be upfront about their intentions for calling them.

An example of a call:

By using the script above, your client will feel more comfortable to fix an appointment with you.

That’s all for today! Stay tuned for our next article on Target Marketing!

Alternatively, contact our Growth Consultants to find out more about our upcoming masterclasses and programmes.

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