Archive for August, 2007
Brochures have the potential to pay off in spades for your financial service business. Or they can be a marketing sinkhole.
The president of an Asset Management firm (We’ll call him Charles) asked me to review his brochure. He is doing some things very well; still, I found areas where he could improve. As I looked over his brochure, I extracted these 5 tips for a brochure that can pay off for your financial advisory practice, too.
Five Tips For Brochures That Work
1. Be Clear About The Role Your Brochure
Plays Within Your Marketing Strategy
My first question to Charles was: How are you using this brochure?
He was ready with an answer. Good so far! Many financial professionals fall into the trap of producing a brochure and then hunting for a use.
Charles listed three main uses:
to sell new reps on his services. When his sales team is contacted by a rep, they send out the brochure with a cover letter to build the relationship,
to assist reps who want to get started, and
to supply material for the reps to use with their clients.
How else can you gain a productive brochure?
2. Be Certain Your Brochure Satisfies All Audiences
First and foremost, a brochure’s success depends on how precisely the information is targeted to your audience(s).
Typically, the broad all-things-to-all people approach doesn’t work. It ends up satisfying no one. One way around this is to produce 3 distinct brochures each with its own purpose. We often recommend separate brochures for very different audiences.
The second option - when you are speaking to diverse audiences - is to use a flexible format.
The Asset Management firm’s brochure is a pocket folder that holds 8-1/2 by 11 inch sheets. The information included can be customized for all three situations. It doesn’t have to be a glossy 4-color production as Charles’s brochure is; instead, it can also take a simple, unpretentious format.
What’s more, in his business frequent updates are vital, and the flexible format allows for easy changes. Otherwise, the brochure can swiftly slip out of date.
3. Take Seps To Ensure That Your Brochure Gets Read
Why should anyone read your brochure?
Charles relies on a cover letter to rev up interest in his brochure. In addition, we suggest a benefit headline on the cover of the brochure itself – whether it is a sophisticated pocket folder like his or a more modest 3-fold brochure. His has the name of the firm, its logo, and then four words with images. No real reason there to bother to read the material.
Because he serves three main audiences his headline must take in all three. What will appeal to all?
From the content we discover concepts that he could draw on for a compelling headline. His is a safety-first approach. It helps investors stay the course and achieve their long-term goals. This basic concept could spark a headline and reinforce his positioning.
4. Place Your Brochure Within A Series Of Contacts.
The brochure is only one step – and it can be an effective one - in the marketing sequence.
One contact and one contact only – even with a first-rate brochure - reduces opportunities for success. Charles’ firm, for example when the brochure is used with reps who want to get started, will go over the brochure in a phone conversation or, if possible, face to face. The idea is to get the reps excited and show them how to, in turn, grab the attention of their own prospects.
5. Always, Always Guide Your Audience
To Take The Next Step
For a brochure always be sure you are clear about the next step you want your prospects to take. Spell it out boldly. If it is to contact you, say so. If you are offering a complimentary consultation or a free report, do what it takes to prompt them to take action.
The brochure from Charles’s firm includes 21 separate pieces of information. A guide through the brochure would be useful.
The one thing he doesn’t want is for his audience to set it aside because going through it seems to be a long, slow, or daunting project. Suppose with each brochure he produced a READ THIS FIRST quick-start guide. The guide could present a Table of Contents that lists the important pieces in the brochure with a capsule reason why they are helpful (these would be benefits for the reader). Also, the guide would hand readers a route and a map through the maze of materials.
The route and map, of course, would create a path to the final step you want your prospects to take. And that’s to give you your desired response.
There they are: Five ideas to save you from becoming a “Brochure Victim.” That’s how your brochure will be a star of your marketing plan for your financial advisory practice.
Discover more information about brochures in this article, “How To Write A Marketing Brochure That Really Works” at http://www.marketingplanfinancialadvisor.com/write-a-brochure.html
August 28th, 2007
This article was contributed by Bob Hanson, Jr.
Principal in the Client-Attraction Marketing System For Financial Advisors
Many of our clients say seminars would work as a tool in their marketing plan, but they are too expensive. Or they find that the room is filled not with prospects but retirees looking for a night out or a free meal.
Others say, “I’m more comfortable on the phone. I don’t sell well in front of a group.”
While still others recognize that most younger or dual-income couples planning for retirement won’t take the time from a crammed schedule to travel to attend your seminar at the exact time and location that you hold it.
So what is a financial advisor to do to get a flow of new prospects from events?
Consider a Teleseminar or Webinar.
>>> 5 Advantages Of A Teleseminar or Webinar
Over Your Traditional Dinner Seminar
1. Better Quality Prospects
Because your information is the star of the show, not the social or food benefits of a seminar, your prospects will be of better quality. These events naturally position you as the expert and focus on solving their financial problems quickly and efficiently.
2. Save Time
Pick up the phone, dial, and talk. It can be that simple. You save time, and so do your prospects, so your response rates go up as well.
3. Save Money
Every time I get dragged back into the seminar world by a client, we will have a long discussion about the size of the room. Predicting how many people will register then show up is like picking interest rates in a year or forecasting the weather for a night 2 weeks out. One thing is certain: You know it will be different from whatever you project.
It is equally frustrating to book half a room then turn half the people away. But with an online event like a teleseminar/webinar you can make it work for tens or hundreds. It doesn’t matter. And the delivery costs in either case are virtually the same, saving hundreds and even thousands of dollars for bigger events.
And, there’s no need to do a second event for the 50% who don’t show. Simply email them a link to the recording and then sell them like an attendee.
4. Take Advantage of Online Marketing
I’m sure you have been following other industries like information marketing, training, technology marketing, and even the big financial houses for their investor webcasts and internal and product training. They are moving all of this online because it is cheaper, easier, and more effective.
And best of all, everyone who registers for these events will give you an email address so that you can follow-up with them in bunches for free via emails and then set up calls or appointments.
5. Reach the Majority Who Will Never, Ever Attend Your Seminar
Let’s face it, some 80% or more of your target market will never, ever register for one of your seminars.
But what percent can get on a call in the car on their way home or to their evening activity?
What percent will sit down in the evening and watch your presentation on their computer?
The bottom line right now is that the basic law of economics applies.
Supply and Demand.
You can be among the leaders who deliver events people want to sign-up for and attend while the laggards try expensive, ineffective, or less productive seminars.
Bob Hanson
bhanson@marketingplanfinancialadvisor.com
508-625-1712
Box 68
Hopkinton, MA 01748
P.S. What is your biggest question about teleseminars or webinars? Send me an email with your question and we will cover it in an upcoming Client Attraction newsletter. You can reach me at bhanson@marketingplanfinancialadvisor.com
August 21st, 2007
Where does creativity and marketing innovation come from?
“A person who never made a mistake never tried anything new.”
- Albert Einstein
Albert Einstein’s crisp and clever sayings, like this one, got me hooked. When Walter Isaacon”s new 641-page biography hit the bestseller list, I bought it. The long tome, especially for someone who never took a physics course, was not exactly look-forward-to reading.
Finally, I took it with me as the only option on a long flight from Philadelphia to vacation on a ranch in Jackson Hole, Wyoming. And, fortunately, the ranch unplugged me from TV, phones, newspapers, and email. More time to read! More time to consider Einstein’s tie in to marketing a financial services practice.
The questions I brought to my reading were why was Einstein so creative? How was he able to astonish the world with his theories? Multiple answers include his family, his native talents, and a rebellion against the rigid German culture - answers that are unique to him.
Three qualities came to light that financial professionals can draw on. Don’t worry it’s fast and easy reading. They won’t put you on the cover of “Time” magazine as the “Person of the Century.” They will, though, help you attract more clients and create a more rewarding financial advisory practice.
For the three qualities . . .
Call On These Three Qualities
They helped to make Einstein “Einstein.” They’ll give you an edge in shaping a more fulfilling practice.
>>> 1) Tenacity in Motion
The initial Einstein quote in the biography is “Life is like riding a bicycle. To keep your balance you must keep moving.”
For Einstein there were always puzzles that beckoned him to try to fill in the missing pieces. For financial professionals there are new areas in your practice to explore and different ways to market your practice.
If there is a corollary to this quality, it could be: Don’t Give Up Too Soon. That’s where “tenacity” comes in.
As he admitted, “I think and think for months and years. Ninety-nine times, the conclusion is false. The hundredth time I am right.” Some identify tenacity as the key to his genius.
>>> 2) Be Fully Present
Others noted with wonder how Einstein was able to concentrate amidst the din of life around him and while moved by the most turbulent personal situations.
My sister-in-law taught me what this means – and her way may be Einstein’s way . . . to be totally engaged.
So what does this have to do with your practice? After all, you are committed to handling the details of your practice day after day (maybe with assistance).
The connection is that deep engagement is fertile ground for imagination – asking questions that give you insight into where you want your practice to go and how to get there.
My sister-in-law and brother arrived in Philadelphia to tour the King Tut exhibit. Our timed tickets were for 10:30. I walked through the coffins, jewelry, dog collars, games, and barges at what I thought was a leisurely pace.
We were to meet outside the exhibit. Once you’re out, there’s no return. So I assumed my sister-in-law was ahead of me. I waited in the gift shop for about an hour. Still she didn’t appear. I checked downstairs at the information booth about connecting with missing persons. “Are they adults?” Yes. “Well, you’re on your own. We only announce missing children.”
When I returned to the gift shop, it was 12:30. I asked the “guard” if the others in my party haven’t appeared by now, could they still be in the exhibit. When she heard that we started our tour at 10:30, she said, “No way, They’re out!” I paced and fretted some more and checked the information lobby again. Finally, there she was in the gift shop.
Yes, she was in the exhibit all that time unaware of the thick, elbowing crowd. (My brother hung out with her.) There was only this: Every item in the collection and their descriptions. For each item she asked questions. About the elegant, elaborate and heavy necklaces. How could they be worn in comfort? About the knife. What was it made of? Where was it placed in King Tut’s coffin?
Mine was a path through the exhibit from point A to point B. Hers was a full, unique and deeply enriching experience.
“Joy in looking and comprehending is nature’s most beautiful gift.”
- Albert Einstein
>>> 3) Be Your Wonderful Self
We’re not trying to make you into someone else’s image. That’s the road to failure.
Einstein said, “Few are those who see with their own eyes and feel with their own hearts.” Get in touch with who you are. Express your own voice.
Too often we’re conditioned to be “professional” at all costs or to fit a mold. Be the one-of-a-kind mold. You are, anyway, whether you let it show . . . or not.
There you have them: Three ways Einstein ignited his creativity. How can you capitalize on one or more of these qualities to kindle innovation in your practice and in your life?
Get your complimentary report, “7 Client-Attraction Secrets Of Highly Successful Financial Advisors” at http://www.marketingplanfinancialadvisor.com
August 3rd, 2007
Coming up with a strong niche and power positioning when marketing a financial advisory practice takes reflection and deliberation, perhaps even a whiff of inspiration.
This is true whether you are starting a brand new practice or want to breakthrough to the next level with your current practice.
We just received a question from a reader (We’ll call her Jennifer) that went like this:
“I’ve been told that it is important to create a niche marketing message…that is a challenge for me as I work broadly in many areas.”
As a financial advisor, for instance, you may offer retirement planning for individuals and also for businesses, college planning, wealth management, insurance planning, and other services.
“So, now as I launch out to begin to market my own services, I’m challenged by deciding on a niche. What is your experience with regards to that? Thanks for your response!”
How to come up with a niche marketing message for your practice that takes in your full range of services?
First, Jennifer is smart in giving top priority in marketing to uncovering a niche. It is a can’t-do-without pillar in a financial advisor’s marketing plan . . . especially today, when we are assailed by the ever-rising marketing din.
Here’s An Example Of Niche Power:
A while ago, Bob and I attended a Chamber of Commerce networking breakfast. You know the type of meeting where everyone gets 1 minute to introduce themselves over a continental breakfast. People stand up (unprepared) and stumble through their bland and fuzzy introductions.
Finally, Bob - near the back of the room - spoke. His was a true Strategic Positioning statement: “We help independent professionals who are lost in a crowd of look-alike businesses stand out from the pack.”
When the breakfast was over, a line formed in front of Bob with people asking him to contact them or setting up appointments then and there. As I waited for Bob, a clueless financial advisor buttonholed me and shoved his business card into my hand. The difference couldn’t be clearer between magnetic attraction and an unwelcome sales assault.
Two Steps To Your Niche Marketing Message
So which comes first: Your niche or your niche message?
First, develop your niche.
Second, your marketing message evolves from what you know and discover about your unique positioning.
In other words, clearly grasp how you stand out and then let your target market know why and how you are in a class by yourself.
3 Key Questions to Answer
(These are not mutually exclusive.) All 3 are essential, but never, ever skimp on #3.
* 1) Where is your passion?
Think about what you do and what you really love.
What motivates you! What is it that leads you on? Is there one aspect of your work that really energizes you?
* 2) What are your strengths? This is NOT a take-it-or-leave it question.
Business coach Rich Schefren differentiates his practice with strengths. He describes strengths this way: inborn talents + experiences + education + skills. He revealed, “In every business I’ve been in, I’ve changed the rules of the game to favor my strengths so I would gain a competitive advantage.”
Rich Schefren suggests setting up a special page on your website where friends, family members, colleagues, or clients can anonymously list your strengths. In the meantime write down your own list of strengths.
Here’s what I did recently. I wrote an email to friends and clients that went like this:
I’ve been on two paths recently: puzzling over how to get a client past his barriers and developing a new website for my work with financial advisors.
One approach that is coming up strongly in my endeavors is to play to my personal strengths. You can help by answering this question:
What do you see as my top five talents, personality traits and capabilities — these can include how I do things, what I’m good at, what you can count on me for, and anything that impresses you about who I am?
They responded with enlightening emails. Try it. You’ll love the positive insights. It sure beats getting trapped by weaknesses.
* 3) Which target audiences make you the happiest? Which ones give you the greatest satisfaction or enjoyment? (There can be more than one.)
Picture your target audiences as specific individuals. Perhaps, you like to work with pre-retirees in their fifties. Or, maybe, it’s high-income, upwardly mobile professionals in their forties. Or, possibly, it’s small business owners self-employed for 5 years or more.
We’ve developed a process that we call “Ideal Client Discovery,” and this is where we start when we work with a client. The second part of this process is to find out what is rock-bottom important to your Ideal Clients.
You are able, then, to fill in the details of who they are.
When you understand what really matters to them, add your passion and strengths to the mix. That’s how you’ll uncover your niche and home in on the right marketing message (your unique positioning statement).
With power positioning and a strong “niche marketing message” your one-of-a-kind difference will radiate.
August 3rd, 2007
