Recent research uncovered that seventy-five percent of all the financial professionals offer precisely the same services and products. If that's the situation, why really should the prospect purchase from you?
What's superior about your financial services marketing?
- Is your ETF or insurance less expensive? No.
- Does it have additional advantages? No.
The only distinction is you and if you happen to be not superior in comparison to your competitors, they may get the new business and you will not. Following are methods to use and make you superior to others in the arena of financial services marketing:
1. Sheer volume of financial services marketing
When you do more marketing and promotion, you'll win. Fact is, most participants in financial sales wait for referrals and the phone to ring. Should you make contact with far more consumers either through having telemarketers get in touch, direct mail, weekly classes, newspaper advertisements--any variety of effective communication, you are going to win. This is the simplest way to have an edge since most of your rivals are not doing much. We speak to more than two hundred financial advisors each day and 90% of them tell us they market by word of mouth. When we ask them if this method brings all the new business they desire; they say no. So just getting in action touching potential customers will have you dominate the financial services marketing game while your opponents wait for something to happen.
2. Sales Performance (i.e. your sales skills and talent)
You could be far better at sales. Interestingly, the occupation of being in financial services is not a financial consulting career; it's a sales career. So how many sales courses have you taken? Not one you say? Then obviously, you are not going to stand out in your revenue potential. You're just like the others because 80% of one's competition has had no formal sales coaching. So take the Dale Carnegie Sales program or Sandler Sales teaching and win at financial services marketing by having a much better closing ratio than others. If you admit it to yourself (try tracking it on paper), you lose more sales than you close.
3. Marketing and Advertising Effectiveness
A leading architect got that way via his promotional effectiveness--he uses networking better than anyone. Just about every evening, he manages to be invited to a celebration or attends some event where he can meet a lot of people: the opera, a Broadway play, a charity dinner. He is great at getting out and producing results just about every evening. He gets architectural work from the people he meets. he makes sure and attend events also attended by rich people--those that build homes, office buildings , public structures, etc. He continually climbs the ladder and has risen from designing houses to designing many of the most best known structures in the US. You may use the identical talent (in case you possess it) for being an outstanding financial services marketers and business builder.
Another kind of marketing and advertising effectiveness is seminars. Even though most advisors have difficulty making seminars profitable, a single advisor we know raised above $1 million per seminar. He not only mastered his public speaking expertise (he paid a lot of cash to a professional speaking coach), he learned tips on how to make the audience laugh and like him. As a consequence, sixty-five percent of the participants booked an appointment and he could pick and choose who he desired as a new consumer.
Yet another approach to have superior advertising and marketing is by writing, be it a book, blog posts, and so on. Closely associated is acquiring media exposure, by getting your own personal radio or TV program. The financial sales professionals who use the mass media are deluged with inquiries and resulting new clients.
There's nothing to explain why a client decide on you other than you are the better choice. From the above 3 methods for differentiation, determine which will be your arena for excellence. Then study it and master it. Locate the very best experts in the nation and hire them or have them as mentors to show you how to be superior at your chosen marketing method. Then watch your business flourish even though you offer the same products and services as others.