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Are You Marketing or Drowning Worms?

Submitted by John Brown on Fri, 09/03/2021 - 8:00am
marketing

Johnny was fishing at the edge of a pond when his friend Alicia walked by. Seeing Johnny, she asked, “Hey Johnny! Are you fishing?”

“Nope,” he answered, “just drowning worms.”


This story describes the marketing efforts of many professional advisors who wait for clients to call them. and we wonder why all the great work we do for our clients and all the breakfasts and lunches with other advisors we write off as a business expense fails to result in a flood of new work.

Like most advisors reading this blog, you are skilled in your profession and your clients are satisfied with the work you do for them. But skill and customer satisfaction alone are typically insufficient to keep clients and does not attract prospective clients. Individuals today expect great service and, as advisors, we must supply it just to maintain the work we have. Professional advisors who are interested in Exit Planning tell us that they want to become Exit Planners to make a difference and to get the attention of owners and engage them. Sitting by the side of the pond with your fishing pole does neither.

Make a Difference

If you sense that you aren’t making much difference in the lives and/or businesses of your clients, we suggest that you remedy that deficiency by helping owners with their biggest challenge: leaving their businesses successfully. When you help owners plan for their successful exits from their companies, you not only set yourself apart from your competitors (by offering a unique value proposition), but you also make a transformative difference in the lives of the owners you represent.

Attract Attention

We get it, you are busy. Most of us would rather spend our time representing clients, not marketing ourselves. Yet, unless you can show prospects how you can make a meaningful difference to owners, their families, and their businesses, you are just drowning worms. In other words, in order to make a difference to owners, you must first attract and engage them!

Growing a practice requires more than inviting existing and potential referral sources to breakfast and lunch. It requires reaching out to your target market on a consistent basis and providing them with useful, well-written content. Successful advisors distribute valuable content via social media, e-newsletters, blogs, and emails on a frequent basis. They hold educational seminars for advisors and prospective and existing clients. The only drawback to the frequent-valuable-content approach is that someone has to write that content and then effectively distribute it.

That’s not a challenge for large firms that employ copywriters and social media managers to originate and distribute content. Smaller firms, however, often initiate ambitious marketing projects and abandon them as soon as they get busy.

Stop Drowning Worms

You can end the cycle of start-stop business development and fill your marketing channels with frequent and valuable content. A BEI Marketing Membership allows you to:

  • Distribute fresh, relevant content on an ongoing basis.
  • Brandable content to your practice
  • Regularly connect with your clients, other advisors, and prospective clients using a system that takes minutes to set up.

TAKEAWAY

  • Advisor skill and customer satisfaction do not WOW existing clients or attract new ones.
  • Making a difference to owners means helping them plan and execute successful business exits.
  • The ability to plan successful business exits is a unique value proposition.
  • Valuable content, provided on a consistent basis, is the key to marketing your practice to business owners and their advisors.
  • A BEI Marketing Membership allows you to distribute brandable, valuable content to your clients and referral networks on a consistent basis.

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