Have you reached a new client acquisition plateau? Are you finding it difficult to reach new prospects? If your current clients rave about you, but you can’t seem to reach new prospects, it could be because of your financial advisor branding.
In this digital age, 97%* of consumers use the Internet to find solutions to their challenges. This research occurs even if they have been referred to you by one of your current clients. When these consumers land on your industry standard, unbranded website, they may perceive you as being just like every other advisor that you compete with and they may leave never to return.
I’ve blogged about these secret shoppers who are Googling your firm before contacting you and what you’ll learn is that you will never hear from many prospective clients because they don’t like what they see! When they can’t engage or buy-in to your service, you lose out.
#1 – To Pre-sell, Should You Brand Your Firm or Brand You?
One of the first decisions you’ll need to make is whether to brand your firm or base your branding on you, the advisor. One way to make this decision is to figure out if you want to be the face of your financial firm. Are you an extrovert? Are you well-known in your community? Do you engage in community service? Do you give seminars, workshops, or do you have a radio show? If your name is synonymous with your firm, then you certainly could brand your firm on your likeness and reputation in order to pre-sell your services. If however you are more introverted and tend to want to stay out of the spotlight, branding your firm may be the way to go.
#2 – Pre-sell with a Brand Message
When I work with financial advisors on business development, I help them create a brand message that blends their value proposition with their prospective clients’ needs. All too often I see firms that don’t address the symptoms of pain that relate to why clients seek financial planning and investment management in the first place. Clients put off seeking an advisor until the pain forces them to take action, so speaking to the pain is essential in creating engagement.
#3 – Pre-sell by Adopting a Target Market
In the initial tire-kicking phase of seeking an advisor, people are hungry for information regarding your work with similar clients. By branding your firm through target marketing, you can better connect with your prospects. You have two choices when defining a market. You can analyze past client demographics to predict who you can best target or you can increase your reach by testing new segments and establishing a new niche market based on who you would like to work with in the future. Either way, creating landing pages that address each market’s concerns and challenges is a winning solution.
Branding your firm when you’ve never attempted to differentiate your services before can seem daunting. Your best bet is to do your due diligence and learn as much as you can about branding, how it works in the new digital age with websites and landing pages, and develop a plan to move forward.
Download my FREE Report: 9 Mistakes Advisors Make with Their Brands to learn what you’re doing wrong, the benefits of a strong financial brand, and where to start.