Tag Archives: financial advisor marketing

How Financial Advisors can use AI in their Marketing

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AI can be a powerful tool for financial advisors to enhance their marketing efforts and better serve their clients. Here are some ways AI can be utilized in marketing for financial advisors:

Personalized Content Creation: AI can help generate personalized content such as newsletters, blog posts, or social media updates tailored to interests and needs of clients. Try asking ChatGPT for something like this: “create a blog about interesting ways to enjoy retirement” or “write a blog about unique ways to save money on travel in retirement.”

Predictive Analytics: Many of the large firms are now incorporating AI into their CRM programs to predict future market trends and client needs. Salesforce and HubSpot are off the shelf programs that have AI options to help predict behavioral trends. Financial advisors can use this information to proactively offer relevant services or products to their clients like retirement income planning, financial planning, insurance, estate planning and specific tax mitigation strategies.

Lead Generation and Qualification: AI-powered tools incorporated with CRM programs can help financial advisors identify potential leads from various sources such as social media, websites, or email campaigns. These tools can also assess the quality of leads based on predefined criteria, allowing advisors to focus their efforts on prospects with the highest potential. Check out the power of programs like ActiveCampaign.

Contrarian Networking Strategy – Part 4

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Check out the entire Red Zone Marketing Guide, “The Contrarian Networking Strategy”
Contrarian Networking focuses on the principles of networking that do work – and they are almost always the opposite to what we may believe about networking.

Part 4: Create a Contrarian Networking Plan of Action
Have a plan of action before you go to any event. The goal – to meet connections and future advocates – not to make immediate sales.

1. Find out who’s attending.
Ask the host or organization for a list, ask others, check emails for others attending.

2. Who do you want to meet at the event?
Make a list of the top 5 (don’t avoid the big names).

3. Research people you may be attending by searching on Google and LinkedIn.

4. Find The Meeting Organizer.
If you can’t find out who will be in attendance, when you get there, find the meeting organizer. Introduce yourself and ask who he/she thinks you should get to know at the meeting. Oftentimes they will take you to someone and make the introduction for you (it’s a lot better than standing by the drink table or door all by yourself).

5. At the event, let them do the talking (You ask the questions!).
Once introductions are made, you can move on to more in-depth business questions:

Contrarian Networking Strategy – Part 3

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Contrarian Networking focuses on the principles of networking that do work – and they are almost always the opposite to what we may believe about networking.

Part 3: What To Say When Someone Asks About You?

Every firm needs to have a refined firm story to assist in marketing and client acquisition. But there is a serious need to have a compelling opening line for your firm story – probably several of them. Without something compelling (to them), you may never get the chance to share your story. Even the classic elevator pitch is too gimmicky for an informal initial introduction. In a world of ever-decreasing attention spans, less is definitely more.

A solution for compelling others to want to listen to you is to develop a 15-20 second Simple, Repeatable, Statement of Value (SRSV) for each target audience. An SRSV is a statement that is easy to remember and shares some value directly for the person you are speaking with. Below is the 4-step formula for building your own SRSV. Your SRSV may not include the answer to every question, and it doesn’t have to be compiled in this order.

Develop your 15 second simple, repeatable statement of value (SRSV).

Answer the following questions:
1. What are their needs, wants, challenges, problems, questions, and interests?
2. What you do?
3. What is your memorable differentiator?

Here are some financial advisor examples:

Contrarian Networking Strategy – Part 2

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Contrarian Networking focuses on the principles of networking that do work – and they are almost always the opposite to what we may believe about networking.

Part 2: Contrarian Networking Methods to Building Your Connections

1. Build Quality Relationships.
Take time to deepen your relationships with referral sources. Invite them to social functions, learn their hobbies and interests, and help them pursue their personal goals.

2. Network in New Places.
Look for new areas to find referral partners with common interests. Don’t prospect right away; let the relationship mature.

3. Focus on Others.
Adopt a “What can I do for this person?” mindset. Always give to others, and be known for this.

Contrarian Networking Strategy – Part 1

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Create Truly Effective Networking That’s NOT Focused on Networking

In general, networking to increase sales quickly can often be a frustrating undertaking. Many businesspeople join their local chamber of commerce or business networking group and are initially excited at the prospects. But the unfortunate reality is that it often doesn’t live up to expectations; so, we quit and look for another way to drive sales to our business.

But wait!

There are principles of networking that do work – and that are almost opposite to what we may believe about networking.

FACT: PULSE Survey Research by Red Zone Marketing* has shown that networking is consistently one of the top 5 ways financial advisors are bringing on new business. (The number 1 method is unsolicited referrals).

Part 1: Build Connections Not Prospects and Stop Networking!

The goal isn’t to be the winner of the most business cards received at an event. That
just gives you more cold-prospecting and follow-up to do after an event.

The goal is to make connections with those that can introduce you to others based on their network.

The focus of networking also should not be on gaining an immediate sale from the people you talk to. In fact, that tactic almost never works.