If financial advisors want to attract more clients and get in front of more qualified prospects, they must tell a story that distinguishes themselves from their competitors. Eve B. Rose explains that to be effective, a brochure must answer six basic questions.
The answer better be “GREAT!” If not, you have a serious marketing problem. Opportunities abound for financial advisors who are willing to be aggressive, provide leadership, and earn trust. It is critical to make certain that people know about YOU.
How do you separate yourself from the crowded playing field of financial advisors? Tell a story for your prospective clients. Create a vision of who you are, what you stand for, and how other clients have benefited from your guidance. Explain the range of services you can provide and the expertise you can bring to each client’s individual challenges. Personalize the experience of working with you.
In this era of confusion and mistrust, it is the personal connection that will draw prospective clients to you. You need a marketing piece to establish your own identity, which is essential when it comes to differentiating yourself from your competition. It empowers your clients and centers of influence to tell your story for you, and it “speaks” for you even when you’re not there to speak for yourself. A corporate brochure, regardless of how nice it is, cannot do that for you. If you want to have maximum impact, you have to start branding YOU!
An effective story achieves the desired result of getting you in front of more qualified prospects. It must answer six basic questions about you and your business:
1. Why are you in business?
Describe the HIGH PURPOSE of what you do. Answer the question (from the client’s perspective), “What’s in it for me?” Be concise; one or two sentences are sufficient. You might also include a Personal Mission Statement and/or a Community Mission Statement.
2. What can your clients expect from you?
Define the VALUES on which you built your business. Articulate the implicit promises you make to your clients. It’s not enough to put nice sounding words like “Integrity” and “Service” on a piece of paper; make sure your story has “teeth.” Take the next step and explain how you plan to deliver on those promises.
3. What do you believe?
Explain your KEY BELIEFS about what to do and what not to do when it comes to investing, managing wealth, etc. Depending on the business model you are trying to build, this could be your Investment Philosophy, Financial Planning Philosophy, Wealth Management Philosophy, or a combination of the three. You will have to call upon your knowledge and experience as an investment professional here.
4. How do you do what you do?
Explain your WORKING PROCESS. Your business model will determine what you do (investment management consulting, financial planning, wealth management consulting, portfolio management, etc.). The goal here is to describe how you do it. Use both images and text. If you’re in the process of evolving from one business model to another, this exercise is especially helpful because it forces you to take a hard look at what you do and how you do it.
5. What qualifies you to advise clients?
Who are you? First, quantify your KNOWLEDGE and EXPERIENCE, including your credentials, professional designations, and positions held over the years. Then, identify who you are outside of work. Include information about your family, interests, personal achievements, and/or community involvement.
6. What makes you different?
Define your POINTS OF DISTINCTION. Tell the reader (listener) why they should do business with you. First, identify the key challenges and frustrations faced by your target audience (business owners, corporate executives, etc.) when it comes to obtaining financial services. Then, prioritize the list, select three to five that you feel are most troublesome, and develop solutions for them. What can you do to eliminate or at least minimize these frustrations for your clients and prospects? The answer to this question will be the basis for your Points of Distinction.
Why should you be spreading the word right now?
Your prospective clients don’t have someone like YOU advising them. Given the uncertainty in the markets and the scandals at the top of America’s largest corporations, they need you now more than ever.
If you have been postponing the creation of a good marketing piece, don’t put it off any longer. If you already have marketing materials but they need to be updated or no longer represent you, make this a front-burner project. Opportunities exist for advisors who know how to lead and who can be trusted. Make sure you let prospective clients know that you are one of those advisors.
Copyright © 2007 Rose Communications, Inc.
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