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What is your prospect's journey
as a financial advisor?
In wealth management, the
prospect journey has dramatically changed. Before the pandemic, very few
people were using technology such as zoom online calendar links digital
signatures, and to a lesser degree digital marketing. That has all changed
in the last three years. Financial advisors need to understand the paradigm
shift in their marketing.
What has changed?
Has your online presence
changed? For example three years ago if you told me you would grow your
business through LinkedIn I would've thought you were crazy. but now I see
advisors at all levels using LinkedIn on a daily basis. the same thing
happened years ago when they said every financial advisor is going to need
to have a website. Guess what you've got a website that hasn't been updated
lately? The thing to do today is to make sure your LinkedIn profile is up
to date. here are a couple of simple things to do:
1. Make sure your picture is
there and updated
2. Make sure your contact
information is updated and includes your website your online calendar
telephone number and any other way to get a hold of you. It is a digital
world and some clients text some clients call some clients e-mail some
clients send you a message through a different medium the main thing is
you're accessible.
3. Clean your LinkedIn database
and get rid of anyone who is not going to do business with you including
other fellow financial advisors. this was a tool to connect with the
industry in the past but now it is a tool to use in your practice for
clients and prospecting.
4. Go through your database and see if there are any opportunities. You use
LinkedIn to find and connect with people but the goal is to get them into
your CRM and prospecting system. remember always check with compliance
before doing any marketing.
What is the prospect's journey?
I always say this is a crazy business. you want to ask strangers to tell
them everything about themselves and give them all of your money and all of
your trust. sounds crazy, doesn't it? how do you build trust in a digital
world? Here are a couple of simple things to do. First off the law of
familiarity. people want to know everything about you personally and what
you do and they will be curious to know your story. your story should be on
LinkedIn on your website in video and in any other forms of communication.
imagine you walk into a new restaurant and on the back of the menu is the
story of the restaurant. the story of them being there for 30 years serving
the community contributing to the community and telling their story. Do you
read it? People want to know your story.
Next is social proof and authority. What makes you an expert and what you
do? Besides testimonials how else can you demonstrate this? do you have
articles in publications or the media? do you have a radio show you have a
blog a podcast anything in the online world where people can see the social
proof? Have you been recognized by your firm or the industry or peers?
Finally, what are you an expert in. or as I like to say who are your ideal
clients with whom you do your best work? do you have an ideal client
profile that is on your website that you share with your client's prospects
and centers of influence? Your ideal client or family should include age,
groups, types of clients such as professionals business owners corner
office executives or other? Are the people that you work with people who
are goals focused And these are also people who delegate their financial
affairs to you and your firm. Now does your ideal client profile match the
content that you are delivering? do your newsletters or posting content
match? For example, I want to focus on financial advisors through our
financial advisor practice management system© who have a revenue of 1 to $5
million and are looking to build an ideal team. All of my content focuses
on practice management and that is where I want to have people see me as an
expert in. All of my offers are on practice management. These are simple
things to implement once you have clarity about who your ideal client and
families are.
Have you taken your prospect's journey?
How does someone get to know you and your firm? Have someone walk through
your prospect journey and look at your profile your website your
communications your videos your social proof your authority and your
expertise. then look at all the offers you have in that process? For
example, a must-have offer is an online calendar link to have a quick
conversation. you know once you get in front of somebody you can do some
great work. the challenge is this as a deeper digital process with deeper
offers. people need to have a deeper prospect journey and this is where the
paradigm shift has happened between average and old advisors and elite
financial advisors. If you improve your prospect's journey then you'll see
how much more comfortable your clients will be in referring to and
introducing you. it is easy to learn about you what you do where you do
your best work what you offer in a digital world. as always we're here to
help Implement these ideas into your practice.
The question should now be: What is your prospect's digital journey in
hiring you as their next financial advisor?
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