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Dormant Assets: The Low Hanging Fruit

Dormant Asset Development is the key to consistent, long lasting growth.

It’s a simple and effective way for Advisors to create and maintain dramatic increases in productivity, revenue, and growth on an ongoing basis… and it can be quickly learned without interrupting their daily routine.

What are Dormant Assets?

They are the personally endorsed, new, warm introductions and first appointments with the high quality friends and colleagues of an Advisor’s current and future best clients… the very clients Advisors dream of duplicating.

So, how does an Advisor activate their Dormant Assets?

Advisors identify and develop their Dormant Assets by leveraging their relationships with their best clients.

Develop Dormant Assets.

Every Advisor, no matter their annual revenue, has them.  These assets dwarf the assets Advisors have in hand.

It begins by having a compelling marketing story (see post – The Bad News. Your Marketing Story May Suck!)

A compelling marketing story differentiates you and makes you remarkable.

I Know We Said Your Marketing Story Sucks…

I know we said your marketing story sucks… (SEE POST) But that doesn’t mean it can’t easily be great. And it must be great. Because a great remarkable marketing story is the foundation of a successful practice. It’s the key to developing a consistent stream of warm, qualified introductions.

Here are some of best-selling author Seth Godin’s thoughts about great stories. He is “the” story guru and one of our personal heroes. He writes about marketing and the way ideas spread. Ponder and we’ll go deeper next time.

“Great stories succeed because they are able to capture the imagination of large or important audiences.”

Tell a story that your clients can identify withA great story is true. Not necessarily because it’s factual, but because it’s consistent and authentic. People are too good at sniffing out inconsistencies for a marketer to get away with a story that’s just slapped on.

Great stories make a promise. It’s either exceptional or it’s not worth listening to.

Great stories are trusted. Trust is the scarcest resource we’ve got left. No one trusts anyone. As a result, no marketer succeeds in telling a story unless he has earned the credibility to tell that story.

Great stories are subtle. Surprisingly, the fewer details a marketer spells out, the more powerful the story becomes. Talented marketers understand that allowing people to draw their own conclusions is far more effective than announcing the punch line.

Most of all, great stories agree with our listener’s worldview. The best stories don’t teach people anything new. Instead, the best stories agree with what the audience already believes and makes the members of the audience feel smart and secure when reminded how right they were in the first place.

Business Consulting for Financial Advisors

Client Centric Business Consulting (CCBC) for Financial Advisors is an innovative, simple, and effective approach for new, quality client development. It will quickly, efficiently, and sustainably grow your business.

The best thing? It can be learned and integrated into your practice within 30 days, producing measurable positive results.

Also, because CCBC’s coaching approach seamlessly integrates with your financial practice, you market as you work. So you can learn and test CCBC while conducting your daily business activities.

What Happens When You Adopt CCBC?

What can you expect from this excellent, new, quality client development strategy for Financial Advisors?

  • Your new high-quality, warm introductions and new first appointments will increase dramatically.
  • You will create quality client advocates who are productive centers of influence.
  • Your productivity and revenue will significantly increase.
  • You will be differentiated from the competition.
  • You will market while you work: a win-win situation.
  • You will do more of the work you love with the people you love to work with: your quality clients and their quality friends and colleagues.
  • You will have less stress and more success!

Learn More About CCBC for Yourself

Learn more about how CCM can benefit your practice.

You can have a complimentary 30-minute one-on-one call with Matt Bellis. 

You will learn about Client Centric Business Consulting and how it simply enables you to effectively create new warm, high-quality, personally endorsed introductions and first appointments on an ongoing basis with the quality friends and colleagues of your current and future best clients. You don’t have to change your daily routine. You just speak with your clients. 

 

You Have A Marketing Story That May Suck…

Change your marketing story from suck to success with Client Centric Marketing

Are you wondering why your high-quality and best clients are not personally introducing you to their high-quality best friends and colleagues? Wondering why you have so few brand new, warm and exceptional first appointments? What could be happening?

It’s probably because your “Marketing Story” is not worth talking about.

Why? Because it’s not remarkable.

The Problem

We have talked with countless Financial Advisors and for the most part, their marketing stories are the same. Their focus is on how they are different, where they went to school, the degrees they have earned, how great their numbers are, their charitable work, family, and so on.  

Your high-quality clients and your best prospects don’t see this kind of story as remarkable. Our Client Centric Marketing approach will change how they see your practice by adopting a different strategy.

Here’s How You Can Change Your Marketing Story

You need to move away from your old marketing story. Once you do that, everything changes. Not only will your clients respond to you, but they will also talk about you to their friends and colleagues. Because your story is more remarkable, your high-quality activity will increase significantly and consistently.

Developing a better and more productive modern marketing story requires a process that shows you understand your client base and their predominant worldview. This worldview is a distrust of Advisors and the Financial Services Industry (See Darth Vader Post). So any form of puffery or trying to “sell” them anything will figuratively slam their doors in your face.

Think about it. If you don’t have a schedule that’s consistently filled with excellent personal introductions and first appointments that are warm and personally introduced to you by your high-quality best clients, then your story probably sucks. 

Learn to quickly master this innovative strategy for new, high-quality client development!

REFERRALS OR PERSONAL INTRODUCTIONS? THERE’S A BIG DIFFERENCE

A ‘referral’ is like a lead. It’s a name. It is typically bare, impersonal, and unqualified. Referrals rarely convert to clients – even more rarely, quality clients. Not just because of the lack of relationship with the referred but also because a cold situation feels like selling.

In contrast, a warm personal introduction from a best client is an endorsement wherein your client is explicitly standing behind the value, authenticity and character of the person being introduced… you. It’s an entirely different dynamic. A personal introduction grants you ease and entry. It is based on the established trusting relationship that not only already exists between you and your client but also your client and your client’s friend.

A personal introduction is at its inception a relationship – comfortable and easy – because you are endorsed and trusted.

Referrals don’t even come close to these introductions.

Client Centric Business Consulting
 Simple and effective

NIX THE REFERRALS

It’s always been said that the best way to grow your financial advisory business is through client referrals. However, we all know that getting client referrals is no easy task.

Our research among Financial Advisors shows that activity – getting referrals on an ongoing basis – is, for the great majority, the number one business challenge. The fact is that most of us – unless we are truly gifted in this area – don’t have the ability to gracefully go from the sale to the referral. We’re afraid, we don’t want to be pushy, we don’t want to put off the client. And we’re just too worried about closing the business. Does this sound familiar?

So what’s the solution to this conundrum? It’s learning how to get warm, qualified introductions – the anthesis of referrals. A warm, qualified introduction is when one of your best clients – the kind of client you would love to duplicate – introduces you to one of their qualified close friends, family members or business associates. Someone like them. What makes the introduction truly warm is that it’s done with permission and inclusion.

Here’s the major difference:

Referrals come from a traditional sales based approach where the primary goal is transactional, to make the sale. You provide financial advice to close a sale, to make money and hopefully, to get a referral. But if you don’t get a referral, that sale won’t help increase your activity or future sales.Marketing - Nix The Referrals

Warm, qualified introductions are the result of practicing a service based approach where the primary goal is… warm, qualified introductions. These introductions keep your pipeline consistently filled with qualified potential clients, successfully addressing the number one Financial Advisor challenge… new, qualified activity. When you have more activity more implementation follows. As such, having a full pipeline creates tremendous opportunity to grow your income, revenue and business valuation.

Social Capital And The Most Important Story You Will Ever Tell…

As a Financial Advisor, you may not be aware of the most important asset you have available to you.  It’s Social Capital.

The way to understand Social Capital is by thinking about your relationships with your best quality clients.  They trust you with their financial assets.  But do they trust you enough to bring you into their circle by warmly introducing you to the quality people they know, people who are just like them?                                                                                                                      

That’s Social Capital. It leverages your relationships with your best quality clients into warm, personally introduced and endorsed appointments with their quality friends and colleagues.

Social Capital introductions bear no resemblance to standard referrals.  These are high quality introductions from your best quality clients, your best Centers Of Influence. 

So, how do you acquire Social Capital?

The most important marketing story you will ever tell... It’s driven by having a compelling  Remarkable  Marketing Story  (see post – The Bad News. Your Marketing Story May Suck!) that subtly addresses your clients’ Worldview of Financial Advisors and the Financial Industry –  that they are Darth Vader’s working for the Evil Empire.  (see Darth Vader post)

A compelling  Remarkable Marketing Story is what  moves your best quality clients to share your story with their quality circle of friends and colleagues.  It opens the door to consistent high quality personal introductions and high quality appointments on an ongoing basis.

ASKING YOUR BEST CLIENTS FOR PERMISSION TO DISCUSS PERSONAL INTRODUCTIONS IS VERY COMFORTABLE

Almost all of your best clients will give you permission.

These clients have made you their Financial Advisor – they have taken a leap of faith with you. At the same time you feel privileged and grateful because over time you have earned their trust. You protect and nurture it.

When you have your clients’ trust they will give you permission to talk about warm personal introductions, their most important asset. Different from referrals, open permission removes the discomfort and fear of asking – it’s the key to a personal introduction and endorsement. It’s the reward for earning their trust.

Client Centric Business Consulting
 Innovative, Simple, Cost Effective

“The 5 Minute Call” – Create Client Introducers Now

The 5 Minute Call is a simple phone call to the clients you’d like to duplicate, your quality best clients. On this call, most of these clients will agree to meet with you to discuss introducing you to their qualified friends and colleagues… to become Client Introducers.

An Advocate is person who publicly supports or recommends a particular person, cause or policy

This  “call” has a huge impact on business growth because the way you currently conduct business –  freely giving your knowledge and your time – is framed in a new and effect way.

You are conducting your business as you always have – you are simply framing it differently.  It builds a construct for growth  where clients will want to reciprocate and advocate for you. 

Freely giving makes your clients feel good about themselves and about you. As marketing guru, Seth Godin says, “What people want is the extra, emotional bonus they get when they associate with something or someone who makes them feel good. And when people feel good, they are open because they realize you’re a giver, not a taker.”

The world responds to givers.  Because of the way you frame your giving your clients and prospects experience something different about you… something that sets your service and you apart from the rest.

The 5 Minute Call is an essential tool in transforming your best qualified clients into Client Introducers.