Building Stronger Relationships via Your Digital Ecosystem

Two big revolutions have occurred in marketing in recent years:
 

  1. Marketing has moved from being an art to becoming a science, with an ever-increasing ability to pinpoint the effectiveness (or failure) of marketing campaigns and initiatives.
  2.  

  3. There has been a broad move away from product to experience as the key differentiator. As McKinsey Quarterly noted in 2011, “Customers no longer separate marketing from the product — it is the product….In the era of engagement, marketing is the company.”

At Loring Ward’s National Education Conference at the end of September, we will look at what these two revolutions mean for financial advisors and how they establish and nurture client relationships across the digital spectrum, from websites to social media to CRM systems. Some digital ecosystem best practices to keep in mind: Continue reading

Moment of Truth: Are Your Client Meetings Compelling?

While most investors probably don’t have “meet with my financial advisor” on the top of their list of favorite things to do, we do know that many clients want more contact and communication with their advisor.1 Surveys from clients tell us that in addition to traditional agenda items like investment review, re-balancing and updates on goals, they are looking for a comprehensive approach to both life and financial areas.2
 
With the many tools now available to help address and illustrate the different planning areas of client’s lives, how can you make sure that you are delivering an exceptional experience at this critical “moment of truth” — the client meeting? Continue reading

Becoming More Persuasive #3 — Authority

Note: This is the third in an occasional series on language, tools and techniques that can help you become more persuasive — a vital skill for making sure more investors are receptive to the advice and guidance they need.
 
Your assistant gets an unexpected call: “Hi, I’m good friends with one of your clients. I just inherited a fair amount of money, and she said I should give you guys a call to discuss my options.”
 
Like most of us, your assistant probably goes right ahead and schedules a meeting for you with the prospect.
 
…And misses a significant opportunity to highlight your expertise and lay the groundwork for a more productive meeting and even relationship. Continue reading

Becoming More Persuasive #2 — Reciprocity


Note: This is the second in an occasional series on language, tools and techniques that can help you become more persuasive–a vital skill for making sure more investors are receptive to the advice and guidance they need. The previous blog focused on a simple way to double your chances of “yes:” Becoming More Persuasive #1 — Freedom.
 
You are at the end of a nice meal at your favorite restaurant. The waiter approaches with the bill…
 
What she does next will have a major impact on the tip you leave behind.
Continue reading

Don’t Just Do Something, Stand There!

You’re in a hurry to get somewhere, but you’re stuck in traffic on a crowded freeway. It seems like the lane you’re in just isn’t moving. But the cars in the next lane keep passing you. You’re too smart to just sit there, so you change lanes…only to find that now the lane you were just in is moving and you’re stuck again. As you keep changing lanes, you realize you’re actually going slower and getting more frustrated.
Continue reading

Becoming More Persuasive #1 — Freedom

Blog_Freedom

Note: This is the first of an occasional series on language, tools and techniques that can help you become more persuasive — a vital skill for making sure more investors are receptive to the advice and guidance they need.
 
Of the many ways you can become more persuasive, perhaps the simplest, easiest-to-implement way is what is often called the “But You Are Free” method. A meta study of 42 separate psychology studies involving 22,000 people found that this one method can double your chances of getting to “yes.”1 Continue reading

Pet Smart—Why You Should Be More Dogged About Cataloguing Client Interests

Cat 1Like many middle-aged empty nesters, my wife and I are passionate about our much beloved and terribly spoiled pets.
 
Our friends know they have to at least pretend to be interested when we share cute cat stories (gentle readers, I will spare you the details).
 
Yet no professional in my life, including financial professionals, has ever asked me a single question about my pets – or even if I have them. Continue reading