The other day Mark (not his real name) wrote:

“I started thinking . . . .

“We’re in a rural Southern town where we have to spread our marketing out over a wide area to see results. We have several competitors in our area including banks, brokerages, and independent insurance agents.

“However, as far as we know, we’re the only Registered Investment Advisory firm in the area.

“The big issue I see for us standing out from the crowd is that no one truly knows our firm. We’re lumped in the same category as our competitors until we have a chance to sit down with a prospect. Then, they see how we’re different.

“We want to stand out as a provider of services different from what the other guys provide. We want to let people know that we’re independent thinkers with no obligations except to the client’s best interest.

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When you’ve given up on the last marketing program you devoted more than a year to implement — one that didn’t pan out? When you are stymied and don’t know what to do next?

One of Houdini’s widely popular stunts was to be strapped into a regulation straitjacket and suspended by his ankles from a tall building. Then, he flung himself into the air and escaped from the straitjacket in full view of the crowd below.

You don’t have to be an escapologist like Houdini to get out of a marketing straitjacket.

Timeless, time-tested marketing principles will do the trick.

Time is critical for you, as it was for Houdini, so these principles reveal where to put your energy. And even how to snatch success from your marketing duds.

What’s more they can help you PREVENT marketing straitjacket.
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Before receiving the horrifying medical news, Randy Pausch had been scheduled to give what’s called a “last lecture” at the university where he taught — Carnegie Mellon in Pittsburgh. These lectures offered professors time to reflect on and share their personal and professional journeys.

Sadly, his would become just that: a last and final lecture for a dynamic, creative 47-year-old professor. Two million copies of his book “The Last Lecture” are in print, and it reached #1 on the “New York Times”list of bestsellers.

When I read, I look out for tools, tactics, and lessons for financial advisors. I wasn’t sure, though, that I would find anything in his book for you, but on page 9 there it was . . . the big idea.

Two Colossal Questions
To Put Life Into Your Practice

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You may be aware of how easily trust can be destroyed. And it may not be anything you did. There is a fact of life today that is wiping out trust. I’m talking about the reports of greed and misdeeds raging through the media.

According to a survey by sociologist David Halpern, only 34% of Americans now believe that other people can be trusted.

But did you know that you can create trust?
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A financial advisor client, we’ll call him Glenn, told this story. Recently, he attended a workshop where Ed Slott spoke. No ordinary CPA who prepares taxes! Slott is the go-to guy in an important specialty. He was named as “The Best” source for IRA advice by The Wall Street Journal and called “America’s IRA Expert” by Mutual Funds Magazine.

Glenn was more fascinated, though, by how Slott placed himself in this “Category of One” than in his advice about IRAs. We have a word for it: Focus. Slott chose a specialty where he could shine, and he concentrated on marketing that specialty with all his might.

Missing Focus

As we talk with financial advisors, we find many suffer from lack of focus that can take many forms.

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Recently, we received several calls and emails about new brochures. The calls went something like this:

“Hi Bob and Shirley. I need a (new) brochure. Is this something you can help me with?

Our first question is, “What would you like your brochure to do?” Let’s look into what a brochure can and cannot do.

First, The Brochure Cannot’s

A brochure, as a static and all-purpose marketing handout . . .

* Will generally not help you get new prospects in the door,

* Will typically not help to get the phone to ring, and

* Will usually not handle the entire job of selling for you.

Reminder: A brochure should not be confused with a trifold direct mail piece. What’s the difference?

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Your clients may be calling with troubling questions - questions that are at odds: One may ask, Why aren’t we buying now? Another challenges, Shouldn’t we be selling? Still, others argue for or against staying the course.

Times like these are not for the faint of heart. The solution we talk about today may provide safe passage for your financial advisory practice.

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Today’s article came from this question:

“I’m just starting out in the financial industry and was pondering what some good marketing strategies are generating appointments, leads and new clients. As a young 28-year-old man with very little experience, but a strong education in finance and economics (BS Finance & Economics from University of Nevada, Reno), what should I do?”

You’re on the right track to go after sound “marketing strategies.”

The late Peter Drucker (management guru) agreed: “Marketing is not a function. It is the whole business seen from the customer’s point of view.” That means to see your practice from your prospects’ and clients’ angle and to translate everything into their language.

You’ve spent 4 years and thousands of dollars on college. Next up is broadening your education (It never ends, anyway) to marketing and grabbing as many ideas, strategies, and principles as you can from those who’ve gone before you.

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Question: “I have very limited time and resources. What do you recommend for a one-man shop?”

It doesn’t matter whether you are a one-person shop or a 14-year veteran with 3 other advisors in your practice. All you need is a desire to attract more of your Ideal Prospects.

If you’re hoping for a magic bullet, you’ll be disappointed. There’s no one answer — nothing like do seminars, or send out a mailing, or work centers of influence, and then your Book will grow plump and chubby.

Personally, I’d love to be able to count on one super-duper marketing tool that adds Ideal Prospects all the time. Won’t happen!

Here’s what you can count on . . .

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Here’s what they said: “When it comes to money, I ask Dave.” “Dave protects my interests.” “I feel as if I am always first in line.” “Dave takes the initiative and stays in close contact.” “Dave does what he says he is going to do.”

How about you? Would your clients say the same about you?

Dave has integrity. He sets high moral standards for himself. It’s not about paying lip service to his values but being guided by them day in and day out.

How To Become Believable

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