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What Every Advisor Knows

I found this list in a folder I keep called “Ideas To Explore.” It was really more of a riff, but I feel that it has held up pretty well. I considered cutting it up into a few blogs but in the end, I think it might be best shared as is.

What every good advisor knows about marketing and business development:

  • Experience is your best marketing.
  • Traditional marketing is dead.
  • Anticipated, personalized and relevant information is better than unsolicited “what is this” spam.
  • Keeping promises is a great brand builder.
  • Your logo or firm isn’t a brand; your brand is the work you do and how you do it.
  • Your best customers are worth far more than your average customers.
  • Experience begins before the event/product/service happens.
  • What you do is about much more than that.
  • Lowering your fees is a great way to become a commodity; it’s a horrible way to build a business.
  • Conversations about you happen within your marketplace all the time. Good marketing ensures the right sort of conversations about you happen.
  • Things that are remarkable get talked about.
  • Safe, average and predictable are not remarkable.
  • Marketing is the way you answer the phone, the language you use in an email, and the way you make people feel.
  • You can’t be all things to all people, but you can be all things to some people.
  • People don’t buy what they need; they buy what they want.
  • Your prospects don’t care about you. Harsh!
  • What people think of as ‘value’ is actually ‘relevance’.
  • Relevance is the emotional pay-off you get when you buy something you love and can’t live without.
  • Traditional ways of marketing (ads, seminars, trade show booths, spam, junk mail) are dead, but blogs, podcasts and sharing relevant content work really well.
  • Good marketing tells a story.
  • An effective story matches the worldview of the people you are telling the story to.
  • People are selfish, lazy, uninformed and impatient. Keep this in mind and you’ll be pleasantly surprised by what you find.
  • Marketing that works is what people choose to notice.
  • Great brands (businesses) are choosy about who they allow to work with them. Fire the clients that hurt your ability to deliver the right story to the right people.
  • Something created for everyone rarely reaches much of anyone.
  • Living and breathing an authentic story is the best way to stand out in a crowded world.
  • One disappointed customer outweighs ten delighted ones.
  • Most advisors create ‘good enough’ and then quit. The greatest advisors don’t. And great beats good every time.
  • Everyone wants to be treated like an individual, not a member of a group or market segment.

Thanks for reading, and have a great Wednesday.

 

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