Marketing Tips

Search Engine Optimization

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Learn the top factors that affect your search listings, tips for website construction, how to develop and organize SEO-friendly content, how to use Google My Business, and the importance of social media on SEO.
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Email Marketing Tips

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Learn about compliance, how to build your list, get suggestions on how to create a strong cam-paign, master the art of creating a powerful email, get tips on lay-out, learn how to create strong calls-to-action, and get subject line DOs and DON’Ts.
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For More Business, Prospect Fewer Clients

 

It is utterly against the DNA of most advisors, but if you want to be a success at attracting referrals you must choose not to pursue good prospects.
 
A lot has been written about target marketing and having a niche. Yet I am surprised by how many advisors I meet who cannot bring themselves to commit to a market because it means not attracting some profitable clients.
 
Here's a classic example: I was conducting one of my Secrets of Referral Marketing workshops and we were discussing finding a niche. We talked about how specialization and aiming at a small part of a market can bring more clients than that advisor can successfully service. Think about it – if you are the one advisor that 1% of the people in your geographic area really needs, how many potential clients is that? Where I live, that's about 800 households. So it is okay to basically ignore 99% of the population. If you can be the advisor with the most compelling value proposition for that target market, what do you need to achieve your goals? Ten percent of that potential market? 20%? And that's without leaving town. I can drive an hour east or west and have another market almost as big.
 
Everyone agreed. If we designed an irresistible message for the 1%, we can accomplish as much as we would ever want to. Nods all around. Is everyone okay with that idea? Yes, all the participants say it makes perfect sense. We will determine who we can specialize in, and create plans that will successfully attract them, even if no other prospects (outside the niche) respond to the message.
 
An advisor raises his hand. "So, if I meet a prospect outside my target at a cocktail party, and he has a rollover of $1 million, and I tell him what I do and it doesn't interest him at all, it's okay?" Yes, it's okay.
 
Immediately another participant objects. "But we have to say something that would get them interested – he would be a great client!"
 
From the day we enter the profession, we are trained to pursue any prospect who could be profitable. Eventually, we end up with a diverse client base that can be a challenge to service and a value proposition that attempts to attract everyone and is compelling to practically no one. When we first try to market to a target audience, we find ourselves unable to resist the dilemma of "and I do that, too. And that…" It is counterintuitive. As much as we have discussed it, many, maybe most, advisors still cannot bring themselves to focus on a single, targeted client profile.
 
But if we want people to talk about us, to refer us, we need to be known for something specific. And that means leaving a majority of the population out of your marketing and prospecting plans.
 
Narrow and deep beats wide and shallow. Less is more. Get known for being the single go-to advisor for something specific, and you can eventually get to the point that many of those prospects find you.

 

Questions?

How and why does the Advisor Products system work?

In today’s times, when consumers have become more demanding and tech-savvy, financial advisors must use content marketing to attract, inspire, engage, and convert their prospective customers.

A good content strategy is focused on developing and distributing consistent, valuable content to engage and retain prospective customers and target audience, via your website. Our content library provides financial advisors with fresh, high-quality financial content that is updated regularly, improving SEO along the way. And our automated e-newsletter and social media tools allow advisors to reach out to clients and prospects in an easy-to-use manner, providing frequent touch points for optimal brand building.

  • Differentiate you from competitors
  • Expose clients and prospects to your brand message more frequently
  • Build an ongoing relationship with customers
  • Increase your follows and fans on social media
  • Drive more prospects to your website
  • Help convert prospects into leads
  • Increase number of pages indexed in Google
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See how easy it is to get started with our all-in-one digital marketing platform that drives leads, encourages referrals and increases client engagement.

 

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