Often I have advisors ask me, “Exactly what are your top advisors doing to grow their business?” It’s an interesting question, because most advisors believe that they just need to make more sales and they will grow their business. This approach can work, and it’s certainly better than nothing, but I’ve found that the most successful advisors take a different approach. They focus on what leads to sales: generating prospects.
Of course, every advisor is looking to generate more prospects, but what makes the top advisors different is how they choose to go about it. Rather than individual tactics and one-off campaigns, the top advisors focus on creating a brand and a marketing strategy that brings a constant stream of qualified prospects to them. I call this the “marketing machine.”
To build an effective marketing machine, you need to make it repeatable, so you can replicate it and achieve predictable results. Even better, it should leverage your time, allowing you to reach prospects even while you’re not working. Finally, it should not only approach prospects, but also present you as an expert in a certain area. Let’s look at three pieces of a successful marketing machine.
1. Publish a booklet on a topic that you are familiar with, then offer it to people in your local newspaper for free.
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Make it easy for people to get your booklet, by asking them to simply call and leave a message on a dedicated voicemail box. (You can get a voicemail box that will do nothing but record the number of the person who called looking for the information.) Then, call that individual a few days later and ask a few simple questions to discover if they are a qualified prospect.
A bonus to this approach: Being a published author can help you secure radio or TV appearances as a guest expert on a specific topic. For example, let’s say that you specialize in helping retirees roll over their retirement plans. You could write an 8–12 page booklet that examines 7 mistakes retirees make when taking a distribution from their retirement plan. The title automatically positions you as the go-to advisor for this specialty. Add a bio to the back of the booklet that shows all of your qualifications and expertise, and you add credibility to the information in the booklet. You also show the potential client why they may want to look to you to help them with this critical decision.