Differentiation for Financial Advisors . . .

"How To Leave The Pack Behind"

By Shirley Hanson
copyright 2007

Financial advisors are cropping up everywhere.

They've set up shop in the supermarkets. More and more CPAs are becoming financial advisors because "that's where the money is." American Express as well as insurance companies, banks, full-service discount brokers like Charles Schwab, deep discount brokers like Ameritrade, and computer trading through E*Trade and the others are competing for your prospects and clients.

And what’s more, today everyone’s awash in financial information.

There’s Suze Orman, Jim Cramer, and other experts on TV, the money magazines, newsletters and ezines from every point of view, free how-to information on the AARP website, the all-money, all-day radio stations,
and much more.

What's A Financial Advisor To Do For Stand Out Marketing?

It's vital to be strategic when planning your marketing.

We've identified 8 major routes to what we call your "Unique Strategic Positioning." These have spawned countless variations, permutations, and combinations. To make it easy for you we are arming you with three easy differentiating tactics that can assist you in your marketing program to reach your own "Category of One."

Financial Advisor Differentiating Tactic #1 -
Tell Tales

Sometimes professionals are reluctant to reveal the "stuff of their lives." What better way to draw people to you than with those unique twists in your life! No doubt about it, they are there.

They can come from a painful lesson, a life-changing experience, an unforgettable encounter, a lesson from a beloved mentor, the reason why you became a financial advisor, or somewhere else.

That’s just a beginning. Once you start drawing on your stories, you’ll find an unending supply in “storage” just waiting for you to find them.

Remember, your stories don’t have to be momentous and earth-shattering – just personal and engaging.

A financial advisor, for example, sends his fact-filled monthly newsletter to clients and prospects. At the end of each newsletter he writes a paragraph or two called “On The Home Front.” This incorporates news of his family – his wife’s progress in getting her graduate degree, his daughter’s tennis prowess, his volunteer activities, etc.

Guess what? Many readers tell him they turn to “On The Home Front” first. Or they may skip the facts altogether and only “eavesdrop” on his family life. How much less effective his newsletter would be if he expanded the up-to-date financial information and dropped the personal tidbits!

Financial Advisor Differentiating Tactic #2 -
Get Your Words Right

The right words are NOT those lifeless “Minute Rice” words most financial professionals fall back on. For an example turn to almost any financial advisor’s bio. (Your own may fall into this “lifeless” category.) Most are as dull as a helping of Minute Rice . . . without personality and gusto.

It’s your life, but where’s the life? To recover from this dreaded “professional” disease of comatose words check out lively copywriters. The financial advice field has a slew of top writers. The “Motley Fool” is one example.

I also recommend results-breaking copywriter Gary Bencivenga. You can inhale his style at www.bencivengabullets.com/

It may take a few tries to find your own voice. It’s worth it, though, when you see the difference it makes to your positioning to tell your stories in unique and wonderfully real words.

Financial Advisor Differentiating Tactic #3 -
Ask Winning Questions

So what’s the difference between a winning question and a loser? Aren’t they all the same?

Winners usually draw listeners up short. They produce a “Hmm, that’s interesting!” or an “I never thought of that!” pause. You can almost hear their mental gears engaging thoughts in a new way.

Two other qualities they have are:
1. They are open-ended (require more than a "yes" or a "no.") and
2. They give the conversation momentum.

Winning questions prove that you are sharp, perceptive, and on the ball.

Put winning questions in your marketing messages and call on them in conversations. You’ll stand out as a winner.

For financial advisors, add these three differentiating tactics to your marketing plan to improve your prospecting and lead generating. It’s really about freeing your personal one-of-a-kind qualities.

Imagine what will happen when prospects and clients start looking forward to hearing from you. You’ll attract more prospects, turn more of them into clients, and gain a higher client retention rate.

About the Author:

Shirley Hanson is a direct marketer who specializes in financial advisor marketing to help advisors attract more clients. To break through to a higher level of production, call Shirley at 215.753.2620.