Bruce Wright Chairman,
The Wright Company
FINANCIAL SERVICES NEWS
Magnetic Market Positioning
SIMI VALLEY, CA - One of the most common questions that I'm asked as an author, trainer and mentor to the financial services industry is "What is the best way to sell or market myself to "A" level prospects?"
First, it is important to understand that sales and marketing are not the same. Marketing is about positioning; establishing a position for yourself in the mind of a particular audience. Sales can often be described as the process of stalking clients; hustling and chasing down business. Using a sales model to penetrate "A" level clients or business markets is rarely effective today.
The key to becoming a successful financial services professional in this highly competitive market, whether you are an accountant, attorney, stockbroker, financial planner, insurance agent, banker or real estate agent, is to make yourself attractive to your market by setting yourself apart from your competition.
To become "magnetic" to new business, you must first ask, "Why should a client come to me instead of the many thousands of other professionals in my market place?" Recently, at one of our Business Innovation Conferences, I asked an attorney who was interested in developing more "A" level clients to ask himself this very question. His response, like many advisors today, was "I'm not sure." I said to him, "If you're not sure, how can you expect potential clients to know the difference and choose you?"
To be a success, you must develop a client centered, engaging message that differentiates you from your competitors. Determine your strengths and match these strengths to the needs of potential clients.Every day when you wake up, you are the only one who is thinking about how you are going to be successful that day. To become a true magnetic marketer, you must have a system which helps clients and other advisors see you as an integral crucial link in their chain of success.
Establish yourself as a visionary with creative solutions so you match-up well with your desired clientele and the professionals who also serve them. It helps if others see you as the guiding light in solving their problems and fulfilling their needs. Dedicate yourself to helping other professionals and potential clients alike to get from where they are to where they want to be.
Develop tangible tools to be read, watched and/or listened to, which can be distributed to clients, prospects and professionals. Make sure these materials are not too esoteric or narrow in focus. The real magic lies in designing materials that are informative enough for professionals yet easy enough to understand so they appeal to clients. The true test of your material's effectiveness is whether or not other professionals will purchase them from you for distribution to their clients and prospects. If this is not the case, you should redesign your materials until there is a demand for them. Anything short of this result should be unacceptable to you. Consider addressing investment, tax and legal issues as well as a variety of business and quality of life issues. Be creative and innovative in your approach to identifying relevant client problems and offering solutions. You can add credibility to your work by quoting respected sources and giving credit where credit is due.
When conveying your message, emphasize your role in taking people to a new level of understanding and functioning more effectively. Creatively select and introduce technical issues. Make your point quickly and try to tie your message to philosophical statements or universal truths. Keep all technical explanations brief (less than two minutes or you may lose your audience). The highly successful advisor balances left and right brain issues. Approximately 10% of our decisions are made upon our left-brain technical understanding, leaving about 90% of our decisions to be driven by emotional issues or "gut feelings." Demonstrating that you truly understand people's needs, provide critical insight, vision, and creative solutions, will boost your credibility and client trust.
If you master these important principles of magnetic market positioning, you will become more attractive to "A" level clients and will earn more "A" level referrals from professionals as well clients.
Bruce Wright's strategies have been successfully implemented by thousands of financial services professionals across the country. His newly released book, The Wright Exit Strategy - Wealth; How To Create It, Keep It and Use It, is being endorsed by industry leaders and wealthy consumers alike as the first true guide to Advanced Macro Wealth Management™ and Macro Strategic Planning™. Additional information on Bruce Wright and The Wright Company may be found at www.thewrightco.com or by calling 1-800-997-2664.