Clyde Wyatt, CLU, CFS, Managing Director, and his partners, Roger Gekier, John Wolverton and Steven Hagemann, who jointly manage a branch office chain under the Navigation Financial name in six different South Texas cities, determined that they needed a more cost-effective option to group dinner seminar events. Navigation is one of Securities America’s largest branches with more than 25 independent financial services professionals and approximately $1 billion under management.
While group dinner seminars had once been the backbone of their marketing plan, the executives at Navigation began to see that there is a large segment of the population that will either not respond to a traditional seminar invitation or are uncomfortable discussing financial matters in a group setting. In 2008/09, they decided to try a more personal approach and have continued with their “concierge consultation” plan ever since.
They started by crafting an introductory letter inviting prospective clients to meet them for a no obligation dinner to discuss their personal financial situation. They sent the personalized letters to 1000 households. They purchased the names based on demographics from a list broker. In fact, they outsourced the entire process to a turnkey service provider, Seminar Success, a division of Response Mail Express (RME).
CONCIERGE CONSULTATION
According to the Seminar Success website: Concierge Consultation is a one-to-one lead generation program that uses a "dinner" meeting concept rather than a "dinner seminar." It utilizes RME's experience in seminar marketing, full printing and production services, custom RSVP, telephony and customer service support to provide a one-to-one lead generation and appointment setting product.
The service includes a personalized invitation printed on card stock, a bio card insert printed on matching card stock, appointment pre-screening and setting performed by the RME telephony department and a password protected website that enables the advisor to view and listen to all of the incoming prospective client calls in response to a set of survey questions designed to elicit a response.
Out of the 1,000 invitation letters that Navigator sent out, fifteen qualified prospective clients agreed to go to dinner and get acquainted with Clyde and/or another advisor in the firm. Usually, a two-person advisor team was present at every dinner meeting; this made it easier to build rapport and keep small talk going during lulls in the business conversation. Typically, both husband and wife would attend as a prospective client unit. Clyde or his colleague would typically use an iPad to show visual elements, which proved to be a great way to explain complex ideas and demonstrate their expertise over dinner.
Of the 15 dinner appointments they conducted, 13 of the dinner guest-units agreed to come into the office for a more formal meeting. Of those thirteen meetings, seven of the original guest-units became clients. The firm’s approximate $8,000 investment paid off handsomely – and the advisor-teams enjoyed 15 dinners at a great steakhouse, to boot.
With time and follow up, my hunch is that they will be able to stimulate some additional interest with the prospects who said, “no thanks, not now” during the first go-round.
Power Mailers Direct seems to be offering something very close to what RME does, while The Second Opinion Campaign (brought to you by Steve Anderson, who was perhaps best known for his Multi-media Business Cards and Audio Business Cards in the past) is a bit higher tech, utilizing the Web and email communications to supplement traditional direct mail tactics.
Marketing expert Marie Swift explains how an automated process can help you create a conversation and keep the connection alive until your prospects are ready to wade into the water with you.
Marketing expert Marie Swift says social media sites are one of the best places to build and maintain strong relationships with clients and prospective clients. Here are some tips and advice from the recent Women Advisors Forum in New York to build your brand online.
It has always been important for advisors to build and manage their brand. But the proliferation and popularity of social media makes minding your online reputation more essential than ever.
Marketing expert Marie Swift says establishing and continually increasing credibility is essential for today’s financial advisors. Here are some tips to help build your reputation and increase your buzz factor.
Marketing expert Marie Swift says keeping your client pipeline full is both an art and a science. Here are some three things advisors should be doing now to prevent a dry spell.
Marketing expert Marie Swift says niche marketing cannot only help advisors attract significantly more business, but also provide richer opportunities for self-expression.
Marketing expert Marie Swift says financial advisors who embrace videos, podcasts, recorded multimedia presentations and live online meetings can connect and build rapport with clients in a fraction of the time and more cost effectively than ever before.
Marketing expert Marie Swift says forward-thinking financial advisors are incorporating social media into their marketing plans. Are you doing enough online to remain competitive?
Marketing expert Marie Swift says some advisors are realizing success using today’s interactive, real-time web to amplify their voice and position themselves not just as thought leaders but as social creatures on a mission to educate the public on all things financial.
Marketing expert Marie Swift shares some ideas for riding the retirement wave, appealing to allied professionals and building name recognition within specific communities of interest.
Marketing expert Marie Swift says events can be a great way to help enhance relationships with current clients, position yourself in front of qualified prospects, and build important mutually beneficial relationships with centers of influence.
Even in the digital age, nothing beats the “see the people” approach. This week, marketing expert Marie Swift shares two advisor success stories and how they are automating the referral process and supplementing their in-person communications with new media.
Marketing expert Marie Swift says financial advisors who publish articles and engage with the press increase their credibility and give clients and potential clients something to talk about.
Marketing expert Marie Swift says creating perceptions in the listener’s mind is an important marketing aspect for financial advisors. A good “elevator speech” is a succinct way to tell your story and distinguish you from others. It's also a way to qualify potential clients and to generate referrals, with an oft-overlooked bonus: confidence.
Marketing professionals are quick to suggest that the best way to find success as a financial advisor is niche marketing. Marketing expert Marie Swift delves into exactly what niche marketing is and why advisors should care.
Marketing expert Marie Swift says the end of the year is a perfect time to review everything in an advisor’s marketing toolkit. This week, she talks about the importance and value of the power bio and the core issues article.
Marketing expert Marie Swift says its time for bloggers, tweeps, LinkedIn and Facebook addicts to take a timeout and realize that while building a positive online presence is important, it’s also crucial for financial advisors to think about their overall business image.
Marketing expert Marie Swift says the “Marketing Ideas, Rapid Fire” session at the recent Garrett Planning Network annual retreat yielded a bunch of winning marketing ideas for financial advisors. Which ones can you or your firm implement right now?
Sometimes it's the little things that make all the difference. If you’re like most financial advisors, you are ultra-busy serving your clients and generating new business. But have you handled the marketing fundamentals? Columnist and marketing expert Marie Swift delves into two marketing fundamentals that should not be ignored: the power bio and the prospect profile. Ignore them and suffer the consequences.
Among financial planners’ greatest concerns in this turbulent environment is retaining valued clients. In this high-tech era, marketing expert Marie Swift says planners should balance high-tech communications with truly “high-touch” communications.
Marketing expert Marie Swift details a strategy that works for financial advisors and allied professionals who are interested in serving families with significant wealth. And while this strategy works especially well for that demographic, the truly high-net-worth crowd, there are also applications for advisors who serve the middle-market millionaire and mass affluent.
Professional marketers and smart advisors always tackle the “The 3 M’s” of marketing before they do any serious outreach. The 3 M’s are the foundational elements of all good marketing. However, according to marketing expert Marie Swift, it’s a very common error for many entrepreneurs and small business people to start with the wrong “M.” The problem with that is, it rarely, if ever works.
Using a LifeBio Event can help financial advisors strengthen client bonds and connect with their heirs. Here is how one advisor created a “Norman Rockwell” experience for his very best clients and their special guests. It’s a smart way to build bridges and engage the next generation while positioning yourself as the advisor of choice. You can do it too.
If your logo is more than a dozen years old, chances are it's time for a makeover. Tired, dated materials won't reassure prospective clients that you're progressive and will constantly update the knowledge and services you offer. Your branding essentials may not need a complete overhaul, just a simple facelift.
As a financial advisor, you are always looking for ways to add value and bond with your clients. One of the most unique and innovative ways I've found for doing just that also drive referrals years into the future and provide a wealth of insight about their individual goals and values is a legacy profile.
Many financial advisors are able to successfully pitch their own story ideas, place their own bylined content with reputable media outlets and navigate the PR waters on their own without the help of a professional PR firm or marketing consultant. But if you want to generate more interviews and media success, you’ll want to steer clear of these harmful (and potentially fatal) rookie blunders.
You’ve worked long and hard and now you’ve finally been quoted in the Wall Street Journal or had a bylined article published in the local newspaper. Perhaps you’ve just done a radio or television interview. Now what?
Since I’m such a big proponent of using free publicity versus paid advertising as a business growth strategy, advisors often ask me if it ever makes sense to advertise. In a word, yes.
The problem for many sole practitioners and small planning firms is that working with a PR firm in any way, shape or form is generally too expensive to even consider. This week, we'll talk about a more affordable option: Group Training and Empowerment Programs -- which can be a very attractive option if you can find the right group.
Most public relations firms cite studies that claim the services they provide are at least three times more credible than advertising. But for financial advisors, the question often is how do you measure the return on your PR investment?
Ever wonder how much it might cost to properly promote a book or one big initiative? Given the importance of either scenario, you may decide it makes sense to work with a PR firm. You have a lot at stake and should make the most of things.
Since financial advice is a trust-based business, PR should play an important part of every advisor’s marketing plan. Having a good number of media mentions that show your professional character and business philosophy can really make a difference in how people perceive you and your potential value to them.
Financial advisors who position themselves well by be being frequently seen in the public eye -- either in print, on TV, on the radio or writing online columns likes this one -- can build the perception that they're professionals who can be trusted.
Everyone knows that publicity is wonderful when you can get it. But far too many advisors think there is some sort of magic needed to get their name in print or to be interviewed on television or radio.
In the May issue of Financial Planning magazine, I discussed how client perceptions may have changed over the past three years. I use the term Client 2.0 to describe this more-cautious and aware buyer, and offered thoughts on how you can better connect using an evolved Client Communications 2.0 plan. I spoke with several smart, accomplished advisors and industry consultants such as Ed Jacobson, Steve Saenz, Carol Anderson and Amy Mullen to hear their comments.…
When you start putting pen to paper (or fingers to keyboard), think carefully about the words and the style you use. Every communication is an opportunity to reinforce your positioning, market your firm and your build your brand. Sometimes, dear mild-mannered financial planners, it’s okay to be bold – and even a bit (gulp!) bossy. It’s a noisy world out there. Your ads, flyers and other marketing promotions must stand out and grab attention. …
Every communication is an opportunity to reinforce your positioning, market your firm and your build your brand. Yes, you really are marketing, whether you think so or not. Might as well do it right.
Marie Swift is a nationally recognized consultant who has for over twenty years worked exclusively with some of the industry’s top financial institutions, training organizations, investment advisory and financial planning firms. A top rated speaker at dozens of industry events including FPA, NAPFA, TD Ameritrade Institutional, Securities America, Schwab Institutional, NFL Players Association, Financial Network, Pershing and Lockwood conferences, Marie is dedicated to elevating the conversation in the industry.
Marie is also a prolific writer and contributes to many of the industry’s leading publications, including Financial Planning magazine. You can read Marie’s
newest content on www.financial-planning.com where she writes the weekly Marketing Maven column. She is also contributes content to the Networking 2.0 blog for Sourcemedia’s interactive, online destination created just for women advisors as an extension of the Women Advisors Forum events being held in cities across the country multiple times every year.
A thought leader for thought leaders, she is known for bringing some of the industry’s best and brightest voices together for dialog and debate. Her Thought Leader Round Table series is just one example how Marie generates interesting conversations with movers and shakers in the financial services industry.
Her Best Practices in the Financial Services Industry blog provides additional insights and advice, including podcasts, articles, videos and other helpful content for independent
financial advisors and the institutions that serve them. Find it at www.marieswift.com.
Prior to establishing her own firm in 1993, she served as Director of Corporate Communications for Worldwide Investment Network in Irvine, California, where she helped FNIC’s then #1 Top Producer attain and maintain that title for five consecutive years. She managed a staff of twenty that supported two-dozen successful registered representatives,
estate planners and wealth managers.
As president and CEO of Impact Communications, Inc., Marie leads a dedicated team of marketing communications and PR professionals serving financial institutions and a select group of independent advisors on an exclusive basis. Marie resides in Leawood, KS and can be reached through her website, www.ImpactCommunications.org. For breaking news, follow @marieswift on Twitter -www.twitter.com/marieswift.
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