Why Many Financial Advisors Struggle with Closing Ratios
Financial advisors don’t struggle with closing ratios because they lack intelligence or credentials. They often struggle because they underestimate the importance of people skills, proper discovery, and persuasion. Selling is not separate from advising; it’s what allows advising to happen. Selling skills are still the foundation of advice.
3 Ways to Serve the Emotional Needs of Prospects and Clients
It’s been proven time and time again – emotions drive decision making. By properly uncovering a prospect’s and client’s emotional needs, financial advisors can help them make rational, informed choices. You can help them avoid impulse decisions that may harm their well-being, such as letting an insurance policy lapse or coming out of the market at the wrong time.
10 Ways to “Wow” Your Clients and Provide a VIP Experience
Creating a “wow” or VIP experience for clients is about building your business around the client. It is going above the expected and delivering the unexpected. Every interaction a client has with you is part of their experience. They are observing you, listening to what you say, and scrutinizing every interaction. They are assessing what they are paying for and the value that is being delivered. Creating a “wow” or VIP experience is about delivering something clients never knew they wanted, at no additional cost to them.
Is Your Value Proposition Valuable?
Financial advisors are always trying to set themselves apart in this crowded marketplace. One of the ways they attempt to do this is through a strong value proposition. A value proposition is a statement that articulates in clear terms the value you and your firm provide. It is one of the most powerful elements of your brand. The big question is: Is your value proposition valuable?
“Final Four” March Madness Marketing Strategies
It’s March Madness and we are sharing the “Final Four” marketing strategies for financial advisors and insurance professionals There are a plethora of marketing strategies and tools available, but when you try to execute them all, things can get haphazard. We are sharing the “Final Four” tactics that should be part of every effective marketing or business development plan.
The New Rules for Approaching Prospects
Gear up everyone. There is a new set of rules for approaching prospects and clients. As we look back on this past year, it is clear the pandemic has left people fatigued, stressed, and frustrated. The ongoing disruption and losses have caused people to reflect on things. Prospects and clients are asking themselves, who is truly bringing value to my life? Who is helping me feel secure amidst all this chaos? Is the money I am spending to work with a financial professional delivering the outcomes and experience I want?
Surpassing Competitors in a Tumultuous Environment
With everything going on right now with the market and Corona, how we interact with clients is our main competitive advantage. To be a first-class winning organization, you need to know how to serve your clients’ emotional needs, not just their economic needs. When we have an exceptional and elevated experience, it stays with us. This is the key to surpassing competitors in a tumultuous environment.
5 Essential Elements in Building a Brand
Your brand is the identity of your firm. It conveys your business values and the value your clients will experience in every interaction with you. Building a brand takes time and requires thoughtful purpose and care to gain loyalty. Your brand needs to connect with clients in a relatable way so you gain their trust. In other words, you need to speak from the clients’ point of view. The following 5 essential elements in building a brand will help you foster loyalty and a more powerful presence in your marketplace.
The New Rules for Approaching Financial Advisors
There are a new set of rules for approaching financial advisors and professionals, especially in this COVID environment. Clients are demanding more value and a better experience from their advisor. Fee compression is affecting thousands of advisors and advisory firms. Some financial advisors no longer have individual products or insurance lines as a core expertise in their practice. For instance, some advisors have insurance as an ancillary focus, if they have it at all. Some have chosen to focus on other lines or revenue. Broker/dealers and Brokerage General Agencies (BGAs) stand ready, as they always have, to solve these needs and serve as an objective, consultative resource. The advisory landscape has been evolving for decades, and broker/dealers and BGAs have to evolve their marketing and consulting offerings in turn.