In this series, I’m addressing the seven deadly financial advisor marketing sins that continue to cost advisors like you tons of money. In this article, I’ll cover sins two through four.
These marketing sins pertain to all marketing channels, not just digital marketing. However, a majority of them pertain to Internet marketing, merely because I have found that to be the future of marketing in this industry.
The great news is that all of these can be corrected quickly. The big question is, will you make the changes and implement them where needed?
2. Offering a solution without clearly stating the problem and explaining how it will affect their life if they don’t fix it.
I recently worked to help an advisor craft a solid one-page sales letter that he would send to prospects in his area to get them into his seminar where he covers tax and estate planning. I asked him to draft up a few paragraphs on what he thought was a decent letter using his main points that he wanted to get across to the baby boomer prospects.
When I received the letter, I noticed that the entire first paragraph was about him and his firm’s services. Not a mention of the benefits prospects would receive for coming to his workshop or anything about the problems that his ideal prospects are facing.
It wasn’t until the third paragraph that he finally started stating the problems and his solutions.
The bad news is that most people won’t read past the first two lines if they can’t immediately see what’s in it for them.
Would you stick around and read something in your mailbox, email inbox, or on a website if it didn’t immediately state what was in it for you?
My bet is most of you would not.
So start telling them right off the bat how you can transform their life. Always add the “What’s in it for me?” (WIIFM) in the very beginning of any sales or marketing piece.
3. Sending emails with no link back to your website
This is another deadly marketing sin that is costing many of you lots of business. The great news is that it’s incredibly simple to fix.
Here is all you have to remember: Do not ever send out an email blast to your list or database without a live hyperlink that brings them back to your site.
Ideally, you give them just enough in the email to explain the benefits that you are offering, get them excited and then have them click a link to learn more. This link takes them directly to your website, where you now have them on your homeland.
Trust me, your website is a much better place to have your prospects than an email, any day of the week.
What I’ve found is that my most successful emails are only two short paragraphs (2 to 3 lines each) and a line that says “Click here to learn more about _________.” The “click here” is a hyperlink to the appropriate page on my site.
See also: Advisors: Spam filters get you down?
4. Not having a free widget on your site to collect email addresses
Websites should be used to accomplish these three objectives:
Build authority and credibility
And if you aren’t doing all three on your site, then it’s not working for you the way that it should.
Let’s talk about what a widget is, and how it can help achieve all three of these objectives.
A widget is the free gift you give to visitors in return for their email. It could be a free e-book, a video series, a hard copy book, software, whitepaper, etc. It must be of high value, and it must be free.
A valuable widget sets you apart as an authority, as someone who has so much great information that they can give away content without even thinking about it.
What you’ll find is most of your competitors will never take the time to do this. They will either use someone else’s report or e-book, or they will hire the job out to some freelance writer who knows nothing about our industry. By the way, both of these options are very big mistakes, in my opinion.
Do it yourself! If you really think of yourself as an expert and an authority, then create something of value and prove it! You will be shocked at what this can do for your business in terms of new leads, new doors opening up and establishing authority.
Once you have created the free widget, the next step is to build a landing page around the widget so that you can start capturing leads from your site. I highly recommend companies like LeadPages,Unbounce.com, or Instapage, as they have proven landing page templates where all you have to do is put in the text and upload any pictures you want. This is what we use to create all of our hundreds of leads per month.
And if you don’t have a customer relationship management (CRM) system in place to track and automate your communication with clients, prospects, warm leads, etc., then you are killing yourself as a financial professional.
In fact, not having a CRM in place is deadly sin 4.5.
Once all of this is set up, you are on your way to creating leads, to making more money and getting more creditably and authority as the go-to expert in your area/niche.
In part three, I’ll explore final three deadly signs I see advisors making every day.