Through the years, I’ve played in my share of golf tournaments with advisors and their clients. We’ve sponsored putting contests, hole-in-one contests, closet-to-the-pin, and longest-drive contests. You name it: we’ve sponsored it.
I’d like to share with you an idea that is a little bit different. Instead of a golf tournament, set up golf clinics for clients and prospects. The rationale is that in order to get busy executives away from the office, you need to appeal to their passion for golf.
On many occasions, I’ve worked with advisors to organize such clinics for their clients. We met with the golf pro at a local club to set up a series of clinics for eight golfers at a time. Over a three-month period, we scheduled different groups of eight every two weeks. The numbers were simple. Over three months, the advisor hosted six clinics of eight and reached a total of 48 clients and prospects.
The golf pro loved it because it created revenue for him and his club. It gave him an opportunity to showcase his expertise, which increased the potential for additional lessons. And it gave him a chance to work with new people who might become members of his club.
To recreate this idea for your clients, first, schedule the date of the six clinics. Then start calling your clients to fill the six clinics. An unanticipated benefit might be the occasional warm referral as clients ask if they can bring a friend.
The clinic is conducted by the golf pro and begins at 5:00p.m. and lasts for one hour. It is followed by a brief 20-30 minute presentation by you on a timely topic of interest. Then cocktails and hors d’oeuvres are served.
This is a win/win/win event. Your clients get a helpful golf lesson and useful investment information. The golf pro gets exposure to new customers for him and his club. You will have provided a fun venue to deepen your relationships and set the stage for a productive and well-received follow-up call to your clients.
What about the cost? As a successful advisor, you may cosponsor the clinic and tap into the resources available from sponsors, managers or vendors with whom you do business. In the spirit of, “we’re all in this together,” I have never worked with a firm that wasn’t inclined to support advisors willing to use its products and services with clients.
Imagine this idea’s potential. Are there other interests for which you can hold clinics? For me, tennis comes to mind.