11 Lessons to Learn from The Donald
August 31, 2015 4:57 PM
11 Lessons to Learn from The Donald
Billionaire real estate developer Donald J. Trump has surprised everyone with his meteoric rise to become the Republican party's front runner for 2016.
This isn't an endorsement of his politics but financial professionals can find much to learn by examining his communications techniques.
Perhaps his best ability is simply to get out there and be seen and heard. But before you take the stage, hone a clear message about your brand. Just remember that there are some things only The Donald can get away with. Dan Sondhelm is a partner and senior vice president at financial public relations and marketing firm SunStar Strategic.
All images from Bloomberg.
This isn't an endorsement of his politics but financial professionals can find much to learn by examining his communications techniques.
Perhaps his best ability is simply to get out there and be seen and heard. But before you take the stage, hone a clear message about your brand. Just remember that there are some things only The Donald can get away with. Dan Sondhelm is a partner and senior vice president at financial public relations and marketing firm SunStar Strategic.
All images from Bloomberg.
Revel in the Spotlight
Dubbed a perpetual attention machine, Trump excels at being the center of attention, garnering more than half of all press coverage in the GOP field this summer, according to fivethirtyeight.com.
Financial types generally like dealing with numbers and analysis, opting for a low profile and focusing on the job at hand. Instead, like Trump, capitalize on opportunities to address your clients and prospects. Be in the right place at the right time, in front of the right people. Make yourself the face of your brand, and then deliver a consistent story that makes your services and products memorable.
Financial types generally like dealing with numbers and analysis, opting for a low profile and focusing on the job at hand. Instead, like Trump, capitalize on opportunities to address your clients and prospects. Be in the right place at the right time, in front of the right people. Make yourself the face of your brand, and then deliver a consistent story that makes your services and products memorable.
Don't Keep a Volatile Strategy
Despite Trumps conviction, hes been tripped up more than once with backing a message distinctly different from what he was advocating just a few weeks prior. Sometimes, his position on an issue changes question to question.
Sophisticated investors want to know that their advisors have disciplined, repeatable processes that produce consistent results. Unlike Trump, youre not likely to reverse your story, but have you surveyed how several individuals in your firm tell it? Does everyone talk about your process in the same way, pointing to the same key points? Or might a listener think youre from different firms?
Sophisticated investors want to know that their advisors have disciplined, repeatable processes that produce consistent results. Unlike Trump, youre not likely to reverse your story, but have you surveyed how several individuals in your firm tell it? Does everyone talk about your process in the same way, pointing to the same key points? Or might a listener think youre from different firms?
Promote Yourself
Trump loves to say his own name 131 times (twice as many times as any other contender) during the Aug. 6 Republican Debate, according to mrctv.com.
Trump wants you to remember him and know hes the best, pointing to his own wealth as undeniable proof of his success. You should be willing to talk about your successes and differentiate yourself from the competition. If you manage money or give advice on how to succeed, your clients will want to know youve followed that same advice, investing in the same strategies and successfully building your own wealth as a result.
Trump wants you to remember him and know hes the best, pointing to his own wealth as undeniable proof of his success. You should be willing to talk about your successes and differentiate yourself from the competition. If you manage money or give advice on how to succeed, your clients will want to know youve followed that same advice, investing in the same strategies and successfully building your own wealth as a result.
Don't Be a Talking Head
Adept at disrupting nearly every conversation, Trump is willing to talk about anything, from his strategy to stop ISIS, to rating supermodels.
Sharing your opinions on every economic, political and other issue in the news is more likely to confuse your audience than endear you to them. You may sound smart, but instead, you can hit more home runs and avoid conflicts by sticking to a clear, concise message to capsulize who you are and what you do.
Theres often have only a few minutes to make an impression, whether on a TV spot, planned presentation or more casual business lunch. Think about what your clients and prospects need to know about how you are different and better for them than your competitors are and focus your comments to support those points.
Sharing your opinions on every economic, political and other issue in the news is more likely to confuse your audience than endear you to them. You may sound smart, but instead, you can hit more home runs and avoid conflicts by sticking to a clear, concise message to capsulize who you are and what you do.
Theres often have only a few minutes to make an impression, whether on a TV spot, planned presentation or more casual business lunch. Think about what your clients and prospects need to know about how you are different and better for them than your competitors are and focus your comments to support those points.
Develop a Niche
When you think of the Trump name, is it his hotels, wineries, golf courses, TV show, menswear or political aspiration that comes to mind?
Trump has diversified his brand. Thats good for him, but makes it difficult for the average person to know what hes really all about. Even though hes been successful in many areas, Trump probably isnt the first person youd look to for fashion ideas or for that matter foreign policy advice.
A financial professional needs a specific persona: If youre a killer on the golf course, thats great! Nevertheless, you probably shouldnt invest too much time giving interviews to Golf Digest about your golf swing if youd like to build your financial clientele. Instead, focus on delivering the messages that your primary audience is interested in: your record of accomplishment of consistent investment success.
Trump has diversified his brand. Thats good for him, but makes it difficult for the average person to know what hes really all about. Even though hes been successful in many areas, Trump probably isnt the first person youd look to for fashion ideas or for that matter foreign policy advice.
A financial professional needs a specific persona: If youre a killer on the golf course, thats great! Nevertheless, you probably shouldnt invest too much time giving interviews to Golf Digest about your golf swing if youd like to build your financial clientele. Instead, focus on delivering the messages that your primary audience is interested in: your record of accomplishment of consistent investment success.
Believe in Your Message, But Don't Bully
Trump refuses to back down. He apologizes to no one.
Having conviction in your own beliefs and processes can go a long way to engender confidence. These are troubling economic times and people need professionals they can count on for advice and counsel.
However, being a bully about it does more harm than good, and once it's on Google, bad news is tough to bury. Trumps feud with FOX reporter Megyn Kelly should serve as a warning to anyone who speaks to the media: be respectful of journalists and other influencers, as well as your competition.
Having conviction in your own beliefs and processes can go a long way to engender confidence. These are troubling economic times and people need professionals they can count on for advice and counsel.
However, being a bully about it does more harm than good, and once it's on Google, bad news is tough to bury. Trumps feud with FOX reporter Megyn Kelly should serve as a warning to anyone who speaks to the media: be respectful of journalists and other influencers, as well as your competition.
Own your Successes
Trump does a great job referring to poll numbers and accolades; hes let us know hes dominated the GOP race from June to August so far.
Financial firms often neglect to nominate themselves for peer awards. Some financial firms who do win these industry accolades fail to fully leverage them with client announcements, press releases, web postings or in-office displays. Third-party recognition can go a long way in adding credibility for your firm; dont let false modesty hold you back. People like to jump on the winners' bandwagon.
Financial firms often neglect to nominate themselves for peer awards. Some financial firms who do win these industry accolades fail to fully leverage them with client announcements, press releases, web postings or in-office displays. Third-party recognition can go a long way in adding credibility for your firm; dont let false modesty hold you back. People like to jump on the winners' bandwagon.
Draw Attention to Yourself
Its hard to turn away when Trump is on TV. Hes passionate, animated, exudes energy and vision.
An engaging persona is one of the reasons Trump is interviewed so often. Emulating that kind of charisma is hard, but being authentic and passionate about your business shouldnt be. Positive attention means more people know who you are, what you do and what you stand for. Take advantage of that to build your business.
An engaging persona is one of the reasons Trump is interviewed so often. Emulating that kind of charisma is hard, but being authentic and passionate about your business shouldnt be. Positive attention means more people know who you are, what you do and what you stand for. Take advantage of that to build your business.
Be a Thought Leader
If anyone has the ear of the media and the business world, its Trump, driving ratings and click rates, says the Huffington Post.
Maybe its his net worth, maybe its his business acumen, maybe its both, but people always want to know his thoughts on the days topics.
Developing media relationships takes time, but its an investment worth making to establish your reputation as an industry expert. Writing articles or getting on the speaking circuit not only broadens your audience, it puts you on the radar and can lead to valuable partnership opportunities within your industry.
Maybe its his net worth, maybe its his business acumen, maybe its both, but people always want to know his thoughts on the days topics.
Developing media relationships takes time, but its an investment worth making to establish your reputation as an industry expert. Writing articles or getting on the speaking circuit not only broadens your audience, it puts you on the radar and can lead to valuable partnership opportunities within your industry.
Dont Alienate Your Team
Trump tends to say exactly what he thinks, when and wherever he may be. Because of this habit, Trump lost his political advisor.
While it is a good thing to speak your mind, remember that youve hired good people with specialized skills to do a job. If you have marketing and sales professionals on staff, rely on them and take their advice. Encourage open communication and honest debate before finalizing any plans. Trust and collaboration are key to building a successful team.
While it is a good thing to speak your mind, remember that youve hired good people with specialized skills to do a job. If you have marketing and sales professionals on staff, rely on them and take their advice. Encourage open communication and honest debate before finalizing any plans. Trust and collaboration are key to building a successful team.
Dont Discount Social Media
Facebook reported that 3.4 million people shared information about Trump 6.4 million times in the 24 hours after he tossed his hat in the ring, top among all contenders and in the first hour, he garnered 87% of all U.S. Google search inquiries, according to the New York Post. Trump is a pro at creating news for himself on Twitter.
Clearly there are regulatory hurdles in the financial industry that make using social media outlets challenging, but it is not impossible. Our world and how we communicate is changing. While the giants in the industry can assign staffs of writers and reviewers to the task, smaller firms and individuals owe it to themselves and their constituents to look closely at todays landscape and consider a game plan to engage this new media.
Clearly there are regulatory hurdles in the financial industry that make using social media outlets challenging, but it is not impossible. Our world and how we communicate is changing. While the giants in the industry can assign staffs of writers and reviewers to the task, smaller firms and individuals owe it to themselves and their constituents to look closely at todays landscape and consider a game plan to engage this new media.
