Marketing Rules of Engagement

The principle to “Keep it simple, stupid” is probably the most frequently given and least-followed piece of advice that any of us ever encounter, for three reasons.

First, it’s difficult to keep things simple. It’s hard to pare down 500 words of drivel into 100 carefully selected words that would make Shakespeare gasp with joy. Second, obfuscation of any kind creates a type of security blanket. Third, advisors often equate simplicity with dullness.

The first two issues can be dismissed with three words–”get over it”–while the third provides the inspiration for the French KISS principle.

Like its physical namesake, French KISS improves upon the original by adding some spice. It’s not afraid to be a bit daring, and it’s comfortable exploring the nooks and crannies of your imagination. Moreover, like all good marketing efforts, it’s totally focused on the target audience.

My own encounter with French KISSing in preparing this article provides a perfect example of how to bring the principle to life. When I first made a list of the various rules of engagement and outlined the key tenets of each, I realized that I had violated the core message that I was trying to communicate. The approach I was taking was not going to engage a single reader. The root of the problem was the rule titles. They were short, descriptive, and simple. They embodied every aspect of the KISS principle. Unfortunately, they were also impersonal and indifferent. So I changed them. One that began life as “Consistency” transformed into “Be a Hobgoblin.” And “Integrity” became “Liar, Liar, Pants on Fire.”

When communicating with clients or prospective clients via direct mail letters, brochures, Web site, newsletters, or whatever, strive for simplicity, and don’t forget to include a healthy dash of personal style.

Rule 5: Sign an I.O.U.

Have you heard the saying that “No one cares how much you know, until they know how much you care?” It’s a truth that is particularly relevant to the business of providing financial advice. And it can be boiled down to three letters: I.O.U.

Think about every way you communicate with your clients and the content of those communications. Then ask yourself whether you’re focusing on an “I” topic or a “you” topic. If it’s the former, then you’ve fallen into the old trap of focusing on features. You’re spending too much time talking about you, your product, or your company. You’re taking an egocentric approach to relationship-building.

“You” topics, on the other hand, are focused on the customer’s needs and the benefits accrued by utilizing your products and services. The thing to keep in mind is that even the most difficult and least profitable client is a human being. And like all humans, the only thing they enjoy more than talking about themselves is having someone else talk about them. Identify a client’s problem and offer a solution, and you’ll create a client for life.

Rule 6: Liar, Liar, Pants on Fire

Someone once said, “Character is how we live our lives when no one else is around to notice.” Whether you define it as integrity, trustworthiness, honor, or reliability, character is an essential ingredient of success at any endeavor. And it’s especially important to being an effective financial advisor. Keep your promises, and you’ll keep your clients.

What’s so hard about being trustworthy or keeping promises? From a marketing standpoint, it runs counter to everything we’ve been taught. Traditional marketing revolves around hyperbole, and it never lets the facts get in the way of a catchy tagline. Just capture the consumer’s attention, lock him into a purchase decision, and wish for the best. It’s an approach that works fine for a transactional relationship but yields disaster for the kind of lifetime relationship that successful advisors strive to create.

Traditional marketers spend far too much time policing the fonts and colors of their brand’s logo and not nearly enough time worrying about their brand’s character. They should be focusing on how to turn their trademark into a trustmark–a brand that stands for uncompromised integrity, a brand that will never mislead or disappoint and, most important, never take itself or its customers for granted.

All of the above applies just as strongly to you and your personal brand as an advisor.

General Norman Schwarzkopf, of Desert Storm fame, noted that “Leadership is a potent combination of strategy and character. But if you must be without one, be without the strategy.” Substitute “effective financial advice” for “leadership” and the sentence reads just as true.

When it comes to marketing financial advice, consistency and character reinforce each other over time. Every advisor could benefit from a reputation for an ethical approach to problem-solving. Consistency and character are the bedrock qualities that you are marketing to clients and prospects. But it is not a static process–you need to engage your clients with meaningful stories, told with style, and always with the goal of providing solutions to their problems.

Effective marketing in these challenging times requires a dialogue. Sometimes you talk, and sometimes you listen. But most importantly, when it is your turn to talk, you’d better be sure that your words reflect what you’ve heard. The bottom line is this: Listen to your customers and they’ll open their ears to what you have to say.