Many producers and financial advisors are faced with the harsh reality that today’s marketplace is not only an extremely competitive one; but also presents more challenges and diversification than ever before. Not only do you have to be an expert at what you do, but you also have to stand out from your competition in a way that is compelling enough to divert your prospects attention away from their increasingly busy lives.
Cold Prospecting – The Holy Grail
The reason why cold prospecting remains the holy grail of marketing is because instead of having to wait for prospects to come to you (which can be both time consuming and expensive); cold prospecting allows you to directly approach and meet potential new clients. That being said, one of the biggest potential downsides to cold prospecting is that, if not done properly, it can come off as salesy or untrustworthy in the eyes of the consumer. In the financial services industry, this is the exact kind of message you want to avoid. So, what if I told you there was a proven method that would enable you to both generate new clients immediately, while establishing trust and building rapport all at the same time?
It Takes Two
In order for this process to work, two different components are necessary. The first component is a captivating and relevant message that speaks to your audience in a format that gets their attention. The second component is a platform in which you can connect with your prospects to build rapport, relationships, and put yourself in an authority position. So how do we achieve this?
The First Component – The Invitation
An invitation to an exclusive event is the perfect vehicle to generate interest and action. Invitations feel formal, non-intrusive, and get the attention of their prospects. Combine that with relevant incentives and personalization and you are left with a foolproof recipe for success. So what format works best for the invitations? You have probably guessed it already–direct mail!
Direct mail makes for the perfect format in both designing and sending out invitations. There is nothing more formal and impressive than a letter or tangible invitation received in the mail. Additionally, direct mail has some of the highest response rates in the marketing world. On average, direct mail receives over 7x times the amount of responses than all digital channels combined. Even more importantly, studies have also shown that up to 80-90% of direct mail gets opened; with up to 79% getting opened immediately upon being received. Additionally, data can also be used to both segment out households (on everything from Income Producing Assets, to Median Household Income) and can even enable you to personalize invitations.
The Second Component – The Seminar
Simply put, seminars are powerful. By hosting a seminar as opposed to just marketing yourself, you are able to reach a much larger audience in a more profound way. Seminars allow you take a position of authority and place you as the expert in the eyes of your attendees. Taking center stage with undivided attention and social proof is one of the most powerful ways a financial advisor can position themselves in front of new prospects. Not only do seminars allow you to engage your prospects full on, but they also provide the perfect medium to connect one on one, beginning the initial stages of building a relationship. They also allow you to engage in a dialogue which can be used to open up valuable discussions and further relevant needs that prospects may have.
How Advisors Can Make This Secret Weapon Work for Them
It’s important to note that there are many ways to make errors in judgement as it relates to marketing you and your business. It can become quite costly and even harmful to your brand if you have not obtained the necessary knowledge and proper guidance. Just like any good method, not tweaking certain components to match your specific style and personality can lead you down the path to failure as opposed to achieving a highly successful marketing campaign. Fortunately for you, this is exactly where we specialize. Over the years, Resource Solutions has perfected our proven effective marketing strategies, currently working with hundreds of advisors and wealth managers all across the country. If you have any questions or would just like to bounce ideas around on how to best market you and the services you offer, we would love to help. Please feel free to call us toll free at (866)855-3710, or submit your question(s) to us here: Contact Us
