Whites Of Their Eyes

A good case study is structured with a clear beginning, middle and end that holds your audience’s attention by creating  tension of problems and cosequences… and the anticipation of resolution.

The format is simple.  They can be as short as just one page.  Because they are short, they can be especially useful as seminar or client handouts, direct mail inserts, and downloadable pages on Web sites. Most are conveniently divided into three labeled sections:
1. The Problem or Frustration
2. The Solution
3. The Results

The Problem or Frustration: Setting up the problem and the consequences
This is the place to set the scene… introduce the people or company, and present the problem or frustration that puts your case in motion. 
First, simply describe the people.   For example: Mr. and Mrs. Smith have been retired for two years.  Mr. Smith had retired with a small pension and substantial retirement accounts.  Mrs. Smith retired after 30 years as a teacher and has a generous pension and a small retirement account.  They had recently moved from the large house they raised their family into a more manageable townhouse.  Their desire was to travel 6 months out of the year.

For the Problem present both the problem to be solved (or the opportunity that may be reached) plus the consequences. — the reason why the problem or opportunity matters. It’s not enough to say that Mr. and Mrs. Smith were worried about running out of money.  You have to address the–So what? You need to articulate the meaning of the challenge to the customer, whether it’s a negative consequence to overcome, or a positive outcome that might be gained:

Negative: “Mr. and Mrs. Smith were losing sleep and having arguments about whether they could rely afford this jet setting lifestyle causing both strife and loss of travel opportunities.”
Positive: “Mr. Smith would love to travel as long as he knew there would be more than enough money to do it. And Mrs. Smith had been dreaming about and planning for these travels over the past decade.”

The Solution
The second part of your study, you introduce the Solution: The product or service your company provides that solves the customer’s problem or helps them achieve their goals. Here, your objective is to paint a picture, to illustrate the solution so graphically readers can “see” the evolving events in their imagination. Specificity is critical: Every detail you contribute makes the solution more tangible, more real. Don’t over stress the numbers here… instead emphasize the process.

The Result
The Result, the third part of your study should have them yearning for the end result. “What happened?”  The Problem established a conflict between “what-is” and the desired “what-could-be.” Then the Solution detailed a response to the Challenge. Now every reader will want to know what happened: Did the Solution work? And what change did it bring about? The Result is, as its name suggests, presents the results; your job is to present the rewards of the Solution. As you had in your description of the Solution, make the Result as specific and detailed as you con. If possible, quantify the results with numbers, perhaps with an amount of money saved (or earned), a percentage as well as the emotional result.  Whenever possible, put the most important result in your client’s words. If you can get permission to use a direct quote, use it — it’s the most credible source of information. A great Result quote might look like this: “We just got back from a one month cruise to the Mediterranean and our accounts didn’t go down… they went up!” says Mr. Smith.”

The case study is a simple format that packs a lot of punch in a small space. This is an important marketing and selling tool, don’t be afraid to invest lots of time in research — gathering the facts and quotes you need to give your case immediacy and credibility. Once you have your basic information in front of you, the 3-step structure makes the writing the case study easy.

Understanding the way people think can greatly enhance both your marketing and selling.  One of the world’s foremost experts on how to leverage how people think to persuade them, is Dr. Cialdini.

We can very easily use one of the lessons learned from an experiment he did with hotel towels. You’ve probably been in a hotel where they leave a card in the bathroom asking you to use less or re-use towels to “protect the environment.”

Dr. Cialdini wondered if he could improve on reducing towel usage with a different message.  He tried two separate message cards:
1. Most guests reuse their towels at least once during their stay
2. Most guests… who have stayed in this room… re-used their towels at least once during their stay

People were 26% more likely to re-use their towels with message #1… but were even more likely to re-use their towels when it was mentioned that people that stayed in that very room… had re-used their towels… 33% to be exact.

How can you use this fact?  The best way is through case studies.  Put together a simple 2-page example where people, just like your target market:
• Had a problem
• Tried your solution
• And were happy they did

Case studies are an extremely powerful tool.

We’ve all thought or heard about Networking.  It’s a fantastic way to land the proverbial whale if you do it right.  Think about it…Networking costs very little but can:
• Get you in front of people who would never respond to marketing.
• Get you in front of professionals in all fields.
• Get you in front of high net worth people
• Get you in front of Centers of Influence
• Get you in front of people that can become a constant referral resource.

But, to benefit from networking you must be organized and proactive. You need to choose a target, plan a strategy and then work your plan.
A Dozen Tips to Help You Succeed:
1. Don’t try to be Everything to Everybody—Businesses and individuals like to do business with people they know and trust. Instead of wasting time and advertising dollars trying to reach a broad spectrum of clients, such as Chiropractors, or middle-aged consumers who have parents in nursing homes.
2. Join the Organizations that your target market belongs to—Find out what organizations your “perfect” clients belong to, and join those groups.
3. Just Do It!–Don’t be a no-show or wall flower at meetings. Get involved. Go to meetings as often as possible and work on one or two committees. Arrive early to meetings and be slow to leave. Your goal: to be the first person everyone remembers and suggests when others ask, “Do you know anyone who…?”
4. Start Your Own Network—Look for other professionals who serve the same clients you want to reach, but who don’t compete directly with you. Approach them with the idea of putting together an informal group to share business tips, referrals, leads and even mailings.
5. Become a Talking Authority—Talk to libraries and industry associations and get on their list of presenters for meetings. It will usually take several months to get scheduled, so plan ahead.
6.  Become a Written Authority—Write articles about subjects where your special knowledge would be helpful people in your organization. Be sure to include not only a byline, but also your email address and a link to your web site. Then, remember to read your email and respond to it daily.
7. It’s NOT About You–Get people to talk about themselves…their businesses and personal lives. And listen to what they are saying. What are their concerns… what do they worry about? Use what they tell you to sell potential clients what they really want to buy. Although you may be offering Investments or advice, they may really be looking for something that allows them to sleep better at night… or help with protecting money from nursing home costs.
8. Become a Resource–Let your local media know about your area of expertise.  Put together a series of press releases that have brief tips or information about areas of special concern to the community or a segment of your community (i.e. How people are coping with low interest rates).  Then send one release a week over a period of a month or two to make your name familiar. Call ahead and find out what reporter or show host should get your press release.
9. Keep in touch–Call just to say hello send a handwritten note wishing them a Happy 4th of July… or just pass along some general piece of industry information. Ask how projects they are working on are going, mention news articles you’ve seen about them, and congratulate them on any recent successes they’ve had. Keep the details straight by making notes in a contact manager each time your talk to a client or prospect. Remember, friends work with friends (and the more money they have… the more this is true), and this is a good way to establish relationships.
10. Attend local trade shows—You don’t even need to have a booth at the show.  Just be there to see and be seen. If you do have a booth, get there early and stay late. Networking with other vendors at the show can be a good source of business and leads.
11. Follow up…Follow up… Follow up!—This is the biggest sin I see advisors make… NOT following up on leads. Leads are worthless unless you follow up on them. Make notes on your smart phone about what you talked about and when to follow up. Make the phone calls or send the information you promised. Then, put them into a formal drip system so that you can follow up at regular intervals just to stay in touch. Marketing isn’t a one-time hit-or-miss proposition. Building a successful practice takes patience and ongoing marketing.
12. And Finally… ask for the business—Always be letting them know what you do and how you can help them.

We’re coming into summer and many advisors slow down and enjoy life a bit more.  But there’s no reason you can’t mix a little business with pleasure.  Summer is an excellent time to do a client appreciation-referral event. 

Every summer event I did paid for itself twice over…many times three or four times over and it kept my clients happy to boot!   One of my favorite appreciation events to do was a Luau.  Being in Minnesota, everyone always got a kick out of the Hawaiian theme…And more importantly it can be done on a tight budget, giving you a high ROI!

If you want my detailed 8-page guide for how to do a Luau client appreciation-referral event…complete with checklists, invites and everything you need to pull it off simply and easily, just send an email to support@5QGroup.com with Luau in the subject line.

Have you ever used the term “Guaranteed lifetime Income”?  If you have…you are shooting yourself in the foot, according to a study done by the Financial Security Project at Boston College.  The study found that people described it as “iffy” and unrealistic.  What term did they respond better to? I’ll tell you in a moment.

But first!  The real crux of the study was that the terms we use as advisors everyday…terms and phrases we view as simple and easy…are NOT!  Most people interviewed did not know what any of these terms were:

• Dollar-cost-averaging
• Transparent fees
• Hidden fees
• Beta
• Or any other of a number of terms we throw around daily

People don’t trust jargon…or more importantly the people that use it.  ALWAYS, ALWAYS, ALWAYS use everyday language!!!  Don’t try to look smart by tossing around language they don’t understand.  It undermines how much they trust you.  Nobody likes a smarty pants!

So what word did they prefer over “Guaranteed lifetime Income”?  They prefer “protection”.

You can watch a 1½ minute video of the answers the interviewer got on the street.  A real eye-opener