50% of Clients Want This… are You Giving It to Them?

According to leading research by HubSpot, more than 50% of clients want to see videos from companies they are considering. 

There are many advantages to utilizing videos as part of your marketing and branding efforts:

  • As just stated, people want them
  • Videos are powerful ways to get Google to move your website further up the page
  • It’s a great way to provide value
  • You can use videos to showcase your Unique Selling Proposition in a way you can’t do it on paper
  • Good videos are shared… which is the best form of marketing

So how do you create a good video?  Whether you want to create one yourself… or hire someone to help… Simply type — How to create a great marketing video — into Google and you’ll get all the help you need.

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This Tool Can Close Large Cases… it’s been around for hundreds of years… and most advisors ignore it

What is the tool?  A handwritten note.  The year I made $967,000 I sent out over 200 handwritten notes a month.  In fact, many of my large cases I credit to those handwritten notes.  Not sure of how handwritten notes close business?  Or, exactly what to write on those notes?  Why not download this simple 4-page white paper that walks you through it… courtesy of 5Q Group.

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Are You Accidentally Hiding from Your Clients?

In a recent conversation with Prezmark, a digital content marketing firm designed especially for financial advisors, social media and your digital footprint have jumped to a new level of importance.  The founder Devin Taylor shared with us his insight and experience of the industry and why is a critical part of business moving forward.

When so much money is spent on advertising and lead generation it would be quite the blow to realize all your marketing money has been going out the window. Even worse, you might be missing prospects who are searching for you on their own. Unfortunately, many advisors are unknowingly in this position. This major blind spot advisors are neglecting is their online presence. Some may be on top of it… and some may be sick of hearing about it, but I cannot stress enough how important it is for advisors to be online these days.

Online platforms like Social Media and a Business’s website have become a major cornerstone of financial advisors’ branding and marketing. Most prospects’ first interaction with your business will now be one of these sites, or at the very least viewing them in a Google Search result page. These pages can no longer be treated as auxiliary marketing pieces. They are now seen as your secondary office. Would you feel comfortable inviting a client to a meeting if your office was in your grandma’s unfinished basement? Unfortunately, in sales, appearances matter. And if your material looks cheap, neglected, or dilapidated your client is going to have made up their mind before you can even open your mouth. 

Online platforms and search results have become synonymous with brick-and-mortar offices. This is because the way prospects are researching and utilizing services has fundamentally changed in the last 10 years. And this change has been accelerating in the last 2 years. The days of Yellowpages and newspaper ads are long gone and overlooking an internet presence is quickly becoming a fatal error for advisors’ businesses. This behavior isn’t limited only to the younger generations. The Pew Research Center has found that 50% of US citizens over the age of 65+ have reported they use Facebook. Future models done by Pew show this number steadily increasing into the future. 

With aging generations adapting to online, there needs to be an effort by advisors to meet them there. Recent research from AdvisorEngine shows that even though 66% of prospects’ research started with a referral a client will google the advisor before ever reaching out. Matt Kress who worked on the AdvisorEngine study elaborated, “Even if they start with their referral, they’re still typing into Google … the name and firm or name and location. And then starting to evaluate all those different advisors.” The information or lack thereof, appearing in the prospects’ search is the deciding factor in whether they will pursue contact with the advisor or not. Even more surprising is that the remaining 34% of prospects were starting with a “cold” online search. Kress added that “[These] prospects were going online and just searching on search results — typing in Google words like ‘retirement financial advisor Atlanta’ or ‘top financial advisor New York.’” The search results these prospects see could be the deciding factor on whether your office receives a call or not. 

And, prospects aren’t the only ones looking for your information online. Social Media and Search Engine algorithms are getting more advanced by the day and are determining whether they should show your information to new prospects. It sounds unfair, but nowadays we must prove to the algorithm our pages are worth showing to people. If you aren’t posting consistently, or the quality of your posts is deemed poor, your pages are going to be swept under the rug. This not only means your page will be harder to find… but that any online marketing you do is going to be more expensive and less effective. 

I’m not writing this article because I want to worry anyone, but I truly think financial advisors need to take their online presence more seriously. There are countless horror stories of digital marketing going wrong for advisors. But, after listening to the experiences of many, the main issue was attempting advanced projects too early. If you can start off by covering the basics of creating a few social media pages and posting to them consistently, you’ll soon build a fantastic base presence online to make everything you try in the future easier and more effective.

Sources: https://www.pewresearch.org/internet/fact-sheet/social-media/

This Article was written by Prezmark and is being republished with permission granted to 5Q Group.  

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What Is Your Image?

What do people think about you and your company?  They used to drive by your building to “check you out.”  That is no longer the case.  Now, they check you out by going online.  What do they see?

Check out this recent Coaching Call I did to help my advisor coaching clients really shine online.

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If You Are Good at This… Prospects Are 4 Times More Likely to Buy

Before I tell you what “this” is, let me say that we all know we should be good at it… but very, very few of us are.  Why?   Because we have been given horrible advice on how to do it well.  Thousands of articles have been written about it over the last 25 years… all of them garbage.

But… there is now a way to finally make “this” work. 

So, what is “this”?  It is referrals… and here’s why they don’t work based on the advice you’ve received and articles you’ve read.  We’ve been told to ask for referrals based on 2 criteria, both HORRIBLE:

  1. Give me a referral to help me the advisor—something like, “I get paid in two ways” or “When you give me referrals it allows me more time to concentrate on you and my other clients”.  This does NOT work well.  The client either thinks, “Hey, I’ve given you all my money to manage, what more do you want?” or “WHAT?  You aren’t going to be watching my accounts closely?”
  2. Give me a referral so that I can help your friends, neighbors and relatives—and they think, “Right, my friends, neighbors and relatives are going to love me to sic a salesperson on them”.

We know these things deep down in our gut, which is way many of us don’t ask for referrals as often as we should. 

However, 7 years ago I created a referral system that has averaged a 50% success rate.   So, if you ask 10 people for referrals, you could expect 5 referrals.  How do you like them apples?

Here’s the setup and the script I give the advisors that work with me at 5Q Group…

  1. We give and walk through 7 key documents that most people have not done… or have done wrong.  We talk about how not them having them done can cause big problems down the line… but we help them at no cost.  The clients realize that we have just saved them the possibility of big hassles, money and time wasted.  And it only takes us about 40 minutes to do this for them.
  2. After helping them with the documents we ask, “How much time, hassle and money have we saved by getting these things done?”  And they always respond, “A bunch!”
  3. “I ask because do you have anyone in your life that looks up to you… comes to you for advice… or runs things by you?”  Some say no… but for those that say yes…
  4. You say, “Would you like me to sit down with them for 40 minutes… help them fill out the same paperwork we did here… so that THEIR problems never become YOUR problems?”  And they can’t wait to get you in front of those people!

So, why does this work… because instead of asking them to help YOU… or their friend, neighbor or relative… you are asking them to help THEMSELVES!  Yes, a referral would help you and their friend. But, in addition (and it’s a BIG addition)…they are helping themselves by avoiding having to help their mom, friend or neighbor that relies on them, because you are going to help prevent all those problems!

What you need to do is find those problems that you can fix… that DON’T involve selling products, because this does not work by selling products.  You have to find some problems you can fix with simple solutions that do NOT involve products or selling something.  This creates a referral that makes your client feel much safer about making the referral because you are not going to be out slinging products, but instead, providing solutions to the person they referred.

What are those problems?  It depends on your niche market.  If you are having trouble figuring out what those things are, brainstorm with your colleagues, your coaches and your marketers to zero in on those value added… hassle saving solutions, you can provide to the client base you focus on.  Then, watch your business grow because research says that referrals are 4 times more likely to invest with you, than a typical prospect. 

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This Headline (and technique) Gets Quality People in Your Office

How many of your prospects would like to know how to pay less than 1% tax on their investment income?  So, instead of paying 12%, 22%, 24%, 32%, 35% or 37% on their returns and interest… paying just 1%.  Do you think that would get people asking, “Hey!  How do you do that?” It’s a technique that you know… but probably haven’t thought about in a while.  You can find out how to do it in this short 2-page document, courtesy of 5Q Group.

You can use this Unique Selling Proposition EVERYWHERE to get people talking to you.

  • In a letter to your prospects
  • In a letter to your clients to find additional assets or get referrals
  • As a bullet or even headline in a marketing piece
  • As an “elevator speech” anytime somebody asks what you do

You’ll see in the explanation that it works for all non-qualified investments.  The big comment I get from advisors is, “But Mike, most of my clients’ money is in qualified accounts.”

Yep, but remember, this USP is about bringing something new to your clients and prospects… getting new conversations going… finding new non-qualified money… and guess what all this leads to?  Their big retirement accounts.

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Do This to Finally Get Retirees to Read Your Marketing

Most retirees fall into the category of Boomer.  A lot of research has been done on how to catch a Boomer’s attention.  It ends up, it’s music.  Not actual music, but lyrics that bring them right back to their youth.  You need to work the “catch phrase” from the song into your headline (a few examples below). It reminds them of the excitement of meeting their partner… the great times they had with their best friends… or a life changing event.

Think about a song from your formative years… I bet you know EXACTLY where you were when you first heard it.

Here are some ideas:

  • I want to hold your hand… as you set up a retirement plan that gives you peace of mind
  • This one income technique has my clients “Dancing in the Streets”.
  • Do low interest rates on your savings have you singing… “I can’t get no satisfaction?”
  • This great retirement income plan will be giving you “Good Vibrations”!

You get the idea!  Now rip off one of these or come up with your own to finally get the retirees in your area paying attention to your marketing!

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3 Ways to Create a Positive Sales Experience… that work for Marketing as Well

New sales research from this year gives us a window into what clients want from us.

69% – Want us to listen to their needs

61% – Tell us NOT to be pushy

61% – Want us to provide relevant information

I think we all know how to incorporate these things into our sales process, but how do you use these things clients want in your marketing?

First and foremost, if you want to have a successful marketing campaign you must know your target market, backwards and forwards.  You need to know EXACTLY what the need, but more importantly… what they desire.  How do you find out?  Well, most importantly, listen to your own clients and prospects. Then, conduct your own research… or find other research that has already done it for you.

“Don’t be pushy” and “Give me Relevant Information” go hand-in-hand, when it comes to marketing.  If you want to be believed in the skeptical world we live in today… you must first give valuable information that people can use even before they meet with you.  They will NOT respond to promises of help… you must GIVE them help first… then your additional promises of help will hold more water.

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What Grade Would You Give Your LinkedIn Page?

Your website, Facebook page and LinkedIn are the modern equivalent of your brick-and-mortar store front.  What do your clients and prospective clients see when they research you online?

And how are you using social media to grow your reputation and find new clients?

I found an excellent article that will help you leverage at least one part of the Social Media puzzle.  HubSpot has a great article on How to Optimize Your LinkedIn Profile for Sales.

You can find it here:  https://blog.hubspot.com/sales/optimize-linkedin-profile-social-selling-infographic-template?utm_campaign=Sales%20Blog%20-%20Daily%20Manual%20Emails&utm_medium=email&utm_content=174965362&utm_source=hs_email

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Are You Marketing to LOHAS?

LOHAS is the acronym that stands for Lifestyle of Health and Sustainability.  It is represented by 26 million Boomers in the U.S.  These people are concerned about personal health and the well-being of both themselves and the environment.

These people have money and opinions.  They make things happen.  They have a much greater influence on the direction of their peers and the marketplace, than the typical retiree.  If you learn how to market to these people, you will be getting in front of people with money to invest and the ability to help you grow your practice through referrals.

How do you market to them?  There is no one-size-fits-all… but you could focus your expertise on Socially Responsible Investing (SRI) and Environmental, Social, and Governance (ESG) investing. 

Or you could appeal to their lifestyle tendencies by having an ad with an exuberant older couple on motorcycles with the headline, “Because you’ve waited long enough.”  This is an ambiguous headline, but Boomers could read in their own experience and desires (and let’s face it… entitlement) into the ad.

An ad of this type taps into the Boomer’s desire to live life to the fullest… and not wait until it is too late.  It calls for an awakening… enjoy that retirement now!

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