There are well over 200,000 financial advisors in the United States, so how are you supposed to stand out in the crowd as a financial professional?
With the right strategy and some hard work, you can set your business up for success and notability.
Practice and enhance your social skills
For some, social skills come naturally. Everyone can think of an extrovert in their lives for whom social interaction comes as easily as breathing. This isn’t true for everyone, however. Some people have to work harder at their social skills so they can attract more people.
Good social skills aren’t just about being extroverted. They’re about being a good listener. Practice active listening; show that you’re paying attention to what the other person is saying and then reference what they mention back to them.
The more you’re known as an active and empathetic listener, the more comfortable clients will feel talking to you.
Stay up-to-date and active with digital trends
As technology continues to evolve, consumers start to expect specific methods of communication, platforms, and other ways to manage how they interact with service providers.
Because of this constant change, you should stay digitally literate by leveraging popular social media channels and communication apps.
Some digital tools you can (and should) use include:
- Video conferencing, which not only allows you to work with clients outside of your geographical area but also gives local clients the flexibility of virtual sessions
- Messaging apps
- Social media apps
- CRM systems
- A personal website to help generate leads
In order to manage the financial information of your clients, such as their budgets, debts, and investment portfolios, you should have an online platform that allows you to see all their data in one place.
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Reach out to your existing contacts
If you’re starting from square one, take stock of your existing contacts. Contacting people you’re already connected with to solicit leads is a great place to start.
The people you already know may be interested in working with you because they already have an established and trusting relationship with you.
If they’re not personally interested in your services (for whatever reason), they can help you expand your reach by sharing your content or recommending you to people they know.
With this method, you want to be mindful of how you approach people. You don’t want to damage your relationships by being too pushy or aggressive. Instead, simply make people aware of what you’re offering, invite them to follow your business updates, and make sure they know how to contact you if they’re interested.
Make more cold contacts
At some point, you will likely have to transition to cold outreach.
Before doing this, you should know who your target audience is. Do you want to work with millennial business owners or folks who are ready for retirement? Knowing your target audience will help make your cold outreach more strategic.
Identify how you want to reach out to new people. Is it through LinkedIn? Email? Phone calls?
Cold outreach is an art form that takes practice, skill, and perseverance. If you want to use this method, you should invest in learning more about cold outreach.
Use Digital Marketing
Digital marketing can help you expand your client base by getting you in front of people who are looking for the services you offer. There are several channels you can use for digital marketing, including Google Ads, social media ads, or even paying influencers to recommend your service. Digital marketing is a full-time job in and of itself. If you are a financial professional trying to build your business and stand out from your competition, you need to maximize efficiency so you can work effectively.
Follow tried-and-true methods, but be strategic
There’s nothing special or unique about the methods outlined here to help you stand out as a financial professional. These are all tried-and-true formulas that help people find business success no matter their industry.
What will help you stand out is how you strategize your methods for efficacy and how much you invest into being authentic in your interactions. This process starts with learning to be a better communicator and ends with knowing how to advertise your service so the people who are looking for you can find you.
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