Can't Get in Front of Affluent Clients? Here's a Better Way In

0:01Hello, this is Mark Satterfield and welcome to the Velvet Rope Playbook. Tonight's chapter. Can't get in front of affluent clients? Here's a better way. A few years ago, I was talking with a professional named David, who had a problem I suspect a lot of you will recognize. David happened to be an architect designing high-end homes, but his problem actually had nothing to do with architecture. He was very good at what he did. His clients loved working with him, but he couldn't figure out how to consistently get in front of more of the affluent people he wanted as clients. He tried networking. He became more active on social media.

0:42He asked clients for referrals. Some of it worked occasionally, but nothing gave him a predictable way to meet the right people. So David asked me a question I hear from physicians, financial advisors, consultants, luxury retailers, and just about every other professional who wants more affluent clients. How do I get in front of more wealthy people? And I told him, I think you're asking the wrong question. The better question is, who is already in front of the wealthy people you want to meet? In David's case, the person who might someday hire him to design a multi-million dollar home probably already knows a luxury real estate agent, an interior designer, a wealth advisor, an art advisor, or a custom builder.

1:30But the same principle applies regardless of what you sell. If you're a physician, who else does your ideal patient already trust? If you own a luxury retail business, who else is already serving your best customers? If you're a financial advisor, who has the relationships with the successful business owners that you'd love to meet? Your next affluent client may be difficult for you to reach directly, but somebody else already has a relationship with them. And developing relationships with those people can become one of the most effective ways to grow your business. The trick is doing it without looking like you're trying to get something from them.

2:13So don't start by asking for referrals. Let's say you're an architect who wants more wealthy residential clients. So you identify a highly successful luxury real estate agent. You send her a message saying, we both work with affluent homeowners. I'd love to get together and discuss how we might refer clients to each other. So what is she thinking? Probably exactly what you're thinking when you receive one of those messages. This person wants something from me. Instead, ask a different question. How can I become someone this person is genuinely glad to know? That changes everything. Now, suppose you're a physician offering executive or concierge health care.

2:56Your patients may also have wealth advisors, estate attorneys, personal trainers, luxury travel advisors, and memberships in private clubs. Those people aren't competitors. They're already trusted by the exact people you want to reach. An architect serving wealthy homeowners has a different ecosystem. them. Luxury real estate agents, interior designers, custom builders, landscape architects, and even private bankers. A luxury retailer might look at exotic automobile dealers, galleries, luxury real estate brokers, private aviation companies, bespoke tailors, or high-end travel advisors. Once you've identified these people, don't start asking for introductions immediately.

3:40start becoming visible and useful. Now, again, so pretend you're that architect and there's an interior designer you'd like to know. Don't call and say, can we exchange referrals? Instead, perhaps you're creating a video about furnishing a newly designed home and you call the designer and say, I'm doing something on this subject and you know considerably more about it than I do. Could I get your opinion? You're acknowledging their expertise rather than asking for something. You could interview them for a video, feature one of their ideas in your newsletter, invite them onto your podcast, or ask them to contribute a suggestion to something you're creating.

4:20The easiest way to get an interesting person interested in you is often to become genuinely interested in them first. Now, here's another approach I particularly like. Don't wait for someone to send you a referral. Send them one. And it doesn't necessarily have to be a prospective client. Maybe you know someone they should be. Perhaps you know a journalist looking for an expert, another professional who could be valuable to them, or an organization looking for a speaker. You simply say, John, I was talking with Susan yesterday and thought the two of you would enjoy knowing one another. No particular agenda.

4:59You simply seem to have a lot in common. You haven't asked for anything, but you've made yourself useful. Do that a couple of times and you're no longer somebody trying to network with John. You're somebody John likes hearing from. So, suppose you're a physician specializing in preventative health care and you've developed a short presentation called Five Health Numbers Successful People Over 50 Should Know. You could offer to give that presentation privately to a wealth advisor's clients. You're not asking the advisor to promote your medical practice. you're giving the advisors something valuable they can provide to their client.

5:35You're making them look good. An architect could offer a luxury real estate broker a short briefing on what to look for before buying a home you're planning to completely renovate. The agent now has some useful information to share with a multi-million dollar buyer. A luxury watch retailer could offer the clients of an exotic automobile dealership a private evening on collecting watches. You're not saying give me access to your clients. You're saying here's something your clients might genuinely enjoy. That's a completely different posture. Another idea is to create small experiences together.

6:12This works particularly well in affluent markets because you don't need hundreds of people. Sometimes six or eight is actually better. Imagine an architect, an art advisor, and an interior designer hosting a private dinner for eight people about designing a home around an important art collection. Nobody gives a sales presentation. Nobody stands at the door collecting leads. It's simply an interesting evening with interesting people. Or imagine a luxury automobile dealer and watch retailer hosting a small evening where clients see extraordinary automobiles and unusual watches. A concierge physician and luxury travel advisor might create an event on staying healthy while traveling internationally.

6:56Each participant brings something valuable, and each introduces people from their own world. The relationships develop naturally because nobody feels as though they've walked into a sales event. I encourage you to become a source of interesting information. Once you've identified 10 people that you'd like to develop relationships with, pay attention to what interests them. Then occasionally send them something useful. Not every week and certainly not an automated checking in email. Maybe you see an article and think, Jennifer would find this interesting. Send it with two sentences explaining why you thought of her.

7:35No pitch, no request for a meeting, no hidden agenda. Over time, something important happens. You become associated with useful ideas. Now, remember, you don't need hundreds of these relationships. I'd rather have 10 people who know me, like me, understand what I do, and would feel completely comfortable introducing me to someone important to them. A wealthy client may know three people who could hire you. A professional who serves wealthy clients may know 300. That's why these relationships have such enormous leverage. But don't keep score. If you introduce three people to someone and they haven't sent you anyone, don't suddenly stop.

8:15The moment it becomes, I did something for you, therefore you owe me something, you've now turned the relationship back into a transaction. Your objective is to become part of their world, somebody they respect, somebody who's useful and somebody they enjoy knowing. Then when the right conversation occurs, your name comes up naturally. So here's something you can do this week. Take a piece of paper and write at the top, who already has the trust of the affluent clients I won? Come up with five different professions or businesses and identify two specific people in each category. Now you've got a total of 10 people.

8:54Don't contact them asking to meet for coffee. Everyone does that. Don't tell them you'd like to have a conversation to explore synergies. And please don't ask if you can pick their brain. Instead, look at each name and ask, what's one small thing I could do that would make this person glad to know me? Perhaps you feature them, introduce them to someone, invite them somewhere, ask their opinion, send them something useful, or create an opportunity that makes them look good to their clients. If you do that consistently, you're accomplishing something much more valuable than networking. You're becoming known by the people who already are known and trusted by the people you want as clients.

9:38Now, identifying these people is relatively easy. The more important question is, how do you become well-known by the right people in your particular market so that when one of their clients needs what you do, you're the person who immediately comes to mind? Now, that's something I can help you develop personally. We'll look at your business, the affluent clients you want to attract, and the people who already have relationships with those clients. Then we'll develop a practical strategy for getting you known by those people in a way that's natural, credible, and never overtly salesy. So if you'd like to work with me personally on that, visit GetWealthyClients.com where there's information about setting up a private strategy session with me.

10:22We'll identify who you should become known by, why they would have a reason to want to know you, and how you can begin developing those relationships. That's go to getwealthyclients.com. This is Mark Satterfield. Thanks for listening to this chapter of the Velvet Rope Playbook. I'll be back at you soon with something new. But until then, bye for now.