To find out, look at the first list below. Then compare it with the techniques used by low earners, in the second list.
You’ll see that though "Cold calling" is third from the end for high earners, it's third from the top for low earners.
The top two tools are the same in both Usage lists. As they were in the Effectiveness lists, which one would expect.
High earners then have "Printed newsletter" and "Seminars", and "Website" in the next 3 spots, which, though they don't closely match the Effectiveness ratings, do make sense.
But why do 55% use "Directory listings" when they rate them as ineffective? Is it because they're easy to use, and are often included in their membership of some associations?
And the fact that 53% of high earners use "Cold e-mailing" is not rational, considering that it's so ineffective, and is construed as 'spamming' in some circles. So why do it?
Maybe because we often use ineffective tools if we’re lazy, or they're handy, such as using a dime as a screwdriver.
How can we use this knowledge? When Usage and Effectiveness ratings of any technique are both in the upper half of high earners' lists, one confirms the other, it is worth using.
But when they contradict each other, we have to ask why, and wonder if there is some way to combine the data to make this information more useful.
That's what we'll attempt in the next issue of TIP.
Here's the first list, showing the percentages of the 49 HIGH earners (over $100,000/yr.)using each of 15 ways to attract, and retain clients, sorted from the most to least used:
1. Referrals from clients, and non-clients...............100
2. Contacting clients by phone, or in person.............86 3. Printed newsletter, mailed or hand-delivered....... 73 4. Seminars, teaching classes.................................. 67 5. Website focussing on you, and your business.... 57 6. Directory listings................................................... 55 7. Cold e-mailing, faxing, mailing brochures, etc...... 53 8. Speeches, talks to civic, trade, etc. audiences.....53 9. E-newsletter, faxed, emailed, or on website.........51 10. Participation in organizations involving clients...... 51 11. Writing articles for papers, magazines, books..... 49 12. Advertising in newspapers, magazines............... 43 13. Cold calling, by phone, or in person...................... 41 14. . Professional public relations............................... 37 15. Working with the media........................................ 33 And here's what the 45 LOW earners(under $100,000/yr.) use:
1. Referrals from clients, and non-clients....................100
2. Contacting clients by phone, or in person................ 89 3. Cold calling, by phone, or in person......................... 73 4. Participation in organizations composed of clients.. 62 5. Seminars, teaching classes..................................... 60
6. Cold e-mailing, faxing, mailing brochures, etc.......... 53 7. Advertising in newspapers, magazines................... 49 8. Printed newsletter, mailed or hand-delivered........... 49 9. Directory listings....................................................... 38 10. Speeches, talks to civic, trade, etc. audiences........ 38 11. E-newsletter, faxed, e-mailed, or on website.......... 33 12. Professional public relations.................................... 24 13. Writing articles for papers, magazines, books........ 24 14. Website focussing on you, and your business....... 22 15. Working with the media........................................... 22
Which Techniques Do High Earners Use - To learn more about this author, visit Donald F. Pooley's Website.
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To find out, look at the first list below. Then compare it with the techniques of low earners, in the second list.
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Donald F. Pooley
(Visit Donald's Website)
Don Pooley, the author of this article,
allows you to publish
it if you include these credit lines:
Copyright 2005, Donald F. Pooley, Inc.
Don Pooley CLU, CFP, CHFC, "The
Advisor's Advisor" has shared
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life insurance men
in all major Canadian cities, London,
Australia, Chicago, New
York, San Francisco, Hong Kong, and
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