June 14, 2018
In the business world, it seems that it’s always a company’s goal to be better – better price, better product, better service. However, that’s not always the best way to go about your business. Whenever a customer says “why shouldn’t I just go to the financial firm across the street?” and your answer is “because we’re better,” does the customer necessarily believe that?
What truly matters and what we should all be focusing on is being different. Think about what’s unique about your company. Most of the time, customers choose your business because of you, not knowing the products you offer because they loved what’s unique about you. If you look at really successful companies, they didn’t become successful because they wrote “WE ARE BETTER THAN THE OTHER GUY” as their headline. They outlined what’s unique about them and shared it with the world. And people bought their product because of them.
So, you’re probably wondering: what’s something that could be different about your firm? The people, your leader, and staff. No other firm has the same people as yours does, and that’s one of the best ways to describe your uniqueness.
I’d like to leave this post with a few questions for you to think about:
- What’s something that you are doing that your competitors aren’t?
- What are you doing that’s exactly like your competitors that you could change?
May 24, 2018
In this blog, we talk a lot about all of the different ways you can market your business: social media, website, cold calling, referral programs, etc. However, one major marketing practice that I think is often overlooked is event marketing. What if my event goes horribly? How do I go about planning it? Am I just going to waste all my money? These are valid questions and the thought process in terms of event marketing for a lot of financial advisors. But what if the opposite happens? And you gain a good amount of new potential clients. Or if you are putting on a marketing event for current clients, this could allow for them to feel truly appreciated.
Now that you understand why I think you should definitely include event marketing in your strategy, let’s talk about how you can actually get people to attend.
Firstly, when planning your marketing event, it’s important to create an invitation that shows what’s in it for them. State the benefits they could receive right away!
Give a call to your prospects! Another way to make potential clients feel important is to actually invite them yourself. Nowadays, everything is automated. So anything personalized goes a long way.
Another thing that’s often missing nowadays is follow up. It’s important to follow up right after the event. You need to plan this in advance so that you don’t feel overwhelmed when the time comes. Some ways you can go about doing this is by sending follow up hand written notes, a professional picture of the individual from the event, or scheduling an appointment and calling.
What successful marketing events has your company hosted? Let us know in the comments below!
May 10, 2018
In today’s world, there are financial advisors left and right. As the businesses grow so will the need for clients. One thing that most financial advisors and planners are constantly curious about is: how do you attract a wealthier clientele? In other words, your ideal client. There’s a lot that goes into attracting prospects. Today, I’d like to focus on the marketing aspect of it and provide you with four tips you can use to find your ideal client.
- Be the best at what you do. What are you doing differently than other financial advisors? What’s your track record? How are you sharing this with your prospects? In order to attract a wealthier clientele, it’s important for you to become the best at your service so that the client will feel confident with the assets they’re going to trust you with.
- What’s your story? I know I mention this often in my blogs but I can’t stress enough the importance of having a unique story for you as an individual and your company. You need make sure your story is providing value to the customer. Remember, people will pay for your story.
- Marketing communication must be 50% emotions 50% logic. Going off my #2 advice, how you communicate the value that you can provide to your clients is important. An example of combining emotions and logic into marketing communication would be: “Through my daily financial practices, I have been able to change people’s lives by helping 5,000 clients.”
- Ensure you are visible to your ideal clients. I know this seems obvious, but sometimes we get so caught up in our marketing efforts that we forget about our ideal clientele. Attend networking events, whether they’re virtual or live, be a speaker on webinars and events, and write articles and books. All of these ideas will not only make you more visible but will also build your credibility!
April 12, 2018
As a financial advisor, planner, or an attorney it’s highly important to ensure you have a compelling message with your marketing strategy. This is mainly because people are drawn to companies that are authentic and inspiring. The real question here lies in how do we go about creating our compelling marketing message? I always suggest to focus on the purpose of it all. If you ask a financial advisor what is the purpose of their marketing, most of them would say: “To bring in referrals,” “Build my prospect list,” “Grow business.” However, what they don’t realize is that they’re sharing their goals. The purpose of your marketing and your goals are two separate things. Goals are tangible, measurable, and dated. Purpose is infinite. It is the reason you do what you do. To successfully build your compelling message, one must create an effective purpose. And it is okay to revisit your purpose time to time. But once it is set, the goals are based off your purpose. I’d love to provide some tips on creating your purpose that go beyond the bottom line:
- Stay authentic. Do you simply love helping people? Are you passionate about helping people reach their financial goals? Or do you love helping people get out of their financial struggles? Let that be heard in your purpose.
- Specialize. What type of financial advisor/planner are you? Do you focus on a specific target market? Having a niche will actually provide a better and more focused type of service.
- Have a story. Why did you start doing what you do? This doesn’t necessarily have to be written out in your purpose, but it’s a good idea to develop your story so you can share it with your prospects and clients. It provides the background to your purpose.
What’s the purpose of your marketing? Let us know in the comments below!
March 8, 2018
Whenever you think of building relationships so that people can trust you, and so that your relationships grow, do you think of business? If you don’t, you should. Relationships are something we do want to grow in our businesses. Especially if you’re a financial advisor and you want your clients to trust you. Why are they important? Think of all the referrals you’ve received last year from your best clients. Some of those were probably your biggest sales. Now, try to quantify that number. Once you realize the importance of how you make your clients “feel” as you build those relationships, that in return could be helping your business grow.
We’ve discussed the benefits of building business relationships, now let’s focus on how we should go about doing so. When you first attract a possible client, here are a few things that will go through their head: Can I trust this advisor? Will they understand my unique situation? And, will this advisor’s advice be unbiased? The goal for you is to triumph all of these questions. Do so by being transparent in your process, empathize with their situation, and trust them back.
Following these guidelines will not only increase trust with your potential clients, but also develop those business relationships. In return, both the client and you, as a business professional, are better off.