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Your clients need you now more than ever. How are you communicating with them?
At Top Advisor Marketing, we’ve been helping advisors be their own loud. We produce and promote podcasts for them. Last week, we offered all of our advisors the opportunity to record a free C-19 podcast episode. Most took us up on it. Their clients were extremely grateful, reassured, and response rates were very high. That’s what advisors are supposed to do – communicate and guide. In fact, half (1.5%) of the 3% alpha advisors add to their client relationships are based on behavior management, as per Vanguard Advisor’s Alpha Report.
It might seem strange but, this is one of the important reasons behind why we created this podcasting service; so advisors can communicate and educate clients (panicked or not) in a personal and intimate medium – when they have time to listen.
This is what advisors get paid for and very few advisors have invested in a communication system that helps them provide consistent, timely, intimate and credible information for their clients, advocates and followers.
“…so advisors can communicate and educate clients…when they have time to listen.”
For many advisors, their current approach isn’t working like it could. I’m not trying to be hard on your here, just realistic. You can’t be great at, or have time for, everything required of you to run a high functioning practice (business).
- - Email is personal but it might not be getting opened and read enough unless you send one at a time versus through an email tool such as Constant Contact or ACT. You’ll need both.
- - SMS doesn’t work well as a content vehicle. It’s great for alerts but noting of substance. Although, a quick, “Hope your family are healthy and safe!” would work perfect.
- - Video can be highly effective, especially if shared on social media but many advisors don’t seem to have the confidence, know-how, or budget.
- - Blogs can be moderately effective but most advisors don’t do them consistently, nor are they typically skilled enough at writing to efficiently do this and convey personality and concern. In my 20 years in financial marketing, there are only 2 advisors I’ve seen consistently publish blog posts; James E Wilson, and Andrew Rosen at Diversified.
“…very few advisors have invested in a communication system for their clients, advocates and followers.”
- - Did the C-19 episode amount to new clients or new assets? Not immediately, but it may.
- - Does it really matter? No. Communication is meant to establish credibility and enhance relationships.
- - Did it achieve that? Yes, and then some. Will that result in retention and referrals? Absolutely.
Now imagine you scale your credibility using this same system. It’s no longer a communication system, it’s a business development system. One you own.
“Podcasting is a boom. And that boom is only getting louder.” – Miranda Katz, Wired.com
Now is the time to communicate with your ideal audience, in the medium they prefer, while they are there.
Click here are several podcasting resources when considering it as a possible communication system for your business going forward.
We can have your C-19 podcast done in 24 hours from the day you sign up and then you can send it to your clients. That is a great way to kick off the use of this wonderful medium.
To your health and continued success.
Related: How To Turn COVID-19 Into Success