Financial planning expertise is table stakes for a successful advisor, a baseline point of entry in an evolving marketplace. However, wealth management is more than a financial business; it is a relationship — one that depends on building lasting confidence with clients and their families.
Your brand is a reflection of the service you provide and the relationship you nurture throughout a client’s financial journey. We have short attention spans as consumers, so your marketing needs to stay fresh and creative with consistent messaging. Just as you are loyal to brands, your prospects have choices, and they are drawn to particular people and companies based on intangible connections.
Making these connections is an investment unto itself and requires building equity in your brand that will endure through the life stages of your business.
There is no finish line for brand marketing. Your persistence and commitment to telling your brand story across multiple channels will set a flywheel in motion, and you will continue to benefit from that momentum, especially through word-of-mouth endorsements.
A flash-in-the-pan campaign does not anchor a brand that is in it for the long run. Success is built on consistent shared beliefs, values and a defined and relevant value proposition.
The time is now to credential the strength of your services through an enduring brand. Lean into emotion, lead with relevance, be true to you and make your brand one of your most valuable assets.
Here are three ways to do so.
1. Write your brand story.
In a world where transactions and data dominate, storytelling humanizes your brand by bridging the gap between your services and your clients' emotions.
Do not be shy about putting pen to paper and crafting answers to the following three questions. In doing so, shift your mindset to that of your clients. Instead of saying what you want to tell them, think about what they may want to hear.
- What do clients need from us on an emotional level?
- What are three words that we want our clients to use when describing us to others?
- When clients compare us to others, how do we want them to define what makes us different?
From here, you can start building a narrative that tells the story of your business using the adjectives and attributes that are important from a client’s perspective.
As you explore your brand story, remember that the most important part is its authenticity. Clients and prospects are more likely to engage with and stay loyal to advisors who demonstrate a real connection.
2. Make it personal, not generic.
At its core, personalization means curating meaningful interactions that make your clients feel seen, understood and appreciated. Seventy-five percent of consumers said they were more likely to purchase from brands that deliver personalized offers.
Wealth management is a profoundly personal business. When you speak directly to your client’s aspirations, emotions and needs, you are building lasting connections. The most effective branding is done by treating relationships as a long-term investment.
Use quarterly surveys or biannual check-ins to gain feedback from your clients. Listen for life events and milestones that present opportunities to add personal touches.
Personalization goes beyond one-size-fits-all activities like blast emails. You are creating moments tailored to each client based on the distinct relationship you have built.
For example, demonstrate your thoughtfulness by sending a congratulations card to a client whose child just graduated from college: “Congrats on this memorable moment for your family. Your smart planning and generous support are a wonderful gift for your new grad.”
3. Own your narrative.
Your prospects are doing their homework. Make sure they are learning about you in all the right places.
Think about the last time you made a big purchase — car, computer, house — and consider the steps you took to its selection. You did your homework, talked with friends and peers and weighed your options carefully.
In the digital world, decision-making power sits squarely in the hands of people. It is one Google search away, sending your prospective clients down paths of exploration about you and your practice. When was the last time that you Googled yourself and your business? What did you find?
Your digital story goes further than a Google search, which means it is time to check how you show up across other digital spaces:
- Is your LinkedIn profile up to date? Are you posting about issues of relevance to your practice? Are you liking and commenting on others’ feeds to demonstrate your curiosity and breadth of acumen?
- Does your website immediately send the message of how you want to be perceived? Is there rich content that can be explored on your site and insights that are relevant for your practice?
- Are you actively involved in your community by supporting local events of meaning?
- What are people saying about you? Are you encouraging satisfied clients to post reviews about you online? They are happy to do it. You just need to ask them to do it. (And send them a gift card to a local restaurant as a special touch of gratitude.)
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