The Next Frontier: Text Messaging for Advisors
Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
When it comes to marketing for business growth, advisors want the same thing: the silver bullet.
They ask, “What’s working right now? Should I be making videos? Start a podcast? Run webinars?”
“What is it???”
They don’t like my answer because it’s, “Yes, yes, yes, and…(insert list of other digital advisor marketing best practices here).”
You’ll never catch me claiming there’s a silver bullet in marketing,
How Advisors Should Use their NIL to Build a Personal Brand
I work with student-athletes looking to cash in on their name, image, and likeness (NIL). And I also work with advisors and have found there are important similarities In how they achieve marketing greatness.
NIL is your personal brand. Recent legislation allows student-athletes to profit from their brand. But successful financial advisors have been profiting from their personal brand since their careers began.
A personal brand is the foundation of your digital persona and should fuel and shape your marketing efforts.
Help Prospects Better Understand Fees by Tying Them to Your Value
When we talk about the problems associated with an advisor’s fees, it isn’t that they are too high, too low, or inappropriately structured. Rather it is that advisors typically fail to communicate effectively with their prospects what those fees are actually doing for the client. In other words, what is the value of the service being paid for?
Essentially, the fee discussion isn’t about one of the actual fee structures in place,
Make Some Noise! It’s Time to Become a Fan-Worthy Advisor.
Where do a financial advisor’s best leads and clients come from? It’s no secret. It’s likely every financial advisor will agree that the answer is undoubtedly… referrals. Referrals are potential clients that have been introduced to you by advocates—or fans!
What’s great about referrals is that they tend to move through the sales process much faster than non-referral leads. That’s because the sales process has been initiated by someone the lead already trusts.
The Biggest Challenge for Advisors Today: Differentiation
What is perhaps the biggest challenge advisors are facing with marketing in 2021?
In the cluttered and fiercely competitive advisory industry, it’s standing out from the crowd.
The biggest problem for solo advisors is not technology, nor is it even an economy of scale problem. It is a very big, very real differentiation problem. Today, there is very little to differentiate advisors from one another.
It wasn’t long ago that offering comprehensive financial planning was a differentiator.
