/ by Don Connelly / Storytelling, analogies and power phrases / 0 comments
It’s your job to get prospects off the fence. You need to persuade them that hiring you to manage their investments is the right thing to do. Before they make that decision, however, they need to understand what it is they are buying, and why they need to buy it. Because “people don’t buy what they don’t understand.”
This is where analogies can help push the balance in your favor. They make the unfamiliar familiar.
An analogy is “a comparison between one thing and another, typically for the purposes of explanation or clarification”.
Analogies can help you put forward an argument so that prospects see things in a new light – and conclude, of their own accord – that it makes sense to do business with you.
Here are three situations that warrant the use of analogies.
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Combatting Low Fees
/ by Don Connelly / Marketing Yourself / 0 comments
If you ever need to combat lower fees, begin by understanding what your competition is actually doing. Then form your strategy accordingly.
Listen to this audio episode or read the transcript below to learn how to de-commoditize yourself and why you need to win the value-argument instead of the fee-argument.
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5 Risks You Run If You Grow Your Practice Too Fast
/ by Don Connelly / Best Practices / 0 comments
It’s natural to strive to grow your business, but too rapid a growth can bring with it a host of problems. By taking on too many clients and ‘running before you can walk’ you might damage your practice in the long run.
“The fuel of persistence is patience, the ability to tolerate delays while persisting.”
Elite advisors all share an important trait – that of patience. It doesn’t matter how good you are at your job. If you don’t see that success requires time and effort, you will remain at a mediocre level.
Here are five consequences of attempting to grow your practice too fast.
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Best Target Markets for Financial Advisors: How to Choose The Best One for You
/ by Don Connelly / Marketing Yourself / 0 comments
There’s no ‘one size fits all’ target market for advisors. A market that may be perfect for one advisor may be a poor fit for another. You need to narrow down to the best target market for you, based on your personal background, specialty, knowledge, interests, social networks and so on.
By identifying your perfect niche you’ll find it far easier to differentiate your practice and set yourself up as the ‘go-to’ expert.
If you’re struggling to identify the ‘right niche’ here are a few ways to get started.
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Three Things Elite Advisors Love That Average Advisors Fear
/ by Don Connelly / Best Practices / 0 comments
Average Advisors get held back by letting their fear of performing certain essential tasks take control. Elite Advisors on the other hand have learned that with practice and perseverance it’s possible to actively embrace previously daunting tasks.
Here are three challenging aspects of their job that Elite Advisors are keen to take on, thus guaranteeing their success.
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Three Situations when Analogies Can Help Allay Clients’ Concerns
/ by Don Connelly / Storytelling, analogies and power phrases / 0 comments
As their advisor it’s your job to stop clients from worrying unnecessarily and making bad decisions. You need to find a way to check their behaviors and reassure them that they should follow your lead.
Analogies are a great way to allay clients’ concerns and get across why what you say makes perfect sense. Here are three situations where it will pay you to use analogies to keep things on track.
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5 Reasons Why You Need to Connect with Clients on an Emotional Level
/ by Don Connelly / Managing the Relationship / 0 comments
As an advisor you’re no doubt good with numbers; you’re an objective thinker. But to succeed in this business you also need to be able to create meaningful relationships with your clients. You need to have not only a high IQ but a high level of EQ (Emotional Intelligence).
According to a study by Harvard Business Review emotionally connected clients are more than twice as valuable to your business as ‘highly satisfied clients’.
Here are 5 reasons why rather than focusing on their financial plans you should get to know your clients on a personal level.
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The Right Story at the Right Time Can and Will Tip the Decision in Your Direction
/ by Don Connelly / Storytelling, analogies and power phrases / 0 comments
When you meet with prospective clients, they will very possibly have concerns. They may be worried about investing per se, undecided about whether now’s the right time to invest, or unsure if you are worth your fees.
Don’t see their concerns as obstacles but as an opportunity to build trust. If you suspect they feel anxious, step in tell them an “I know what you’re thinking” story to reassure them they’re doing the right thing. This is a story designed to take away some of your prospect’s concerns.
Here are some situations where a good story can help persuade prospects to hire you as their advisor.
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How to Make The Most of Your Value Proposition
/ by Don Connelly / Marketing Yourself / 0 comments
Too few advisors know what a value proposition is or why they need one. Others understand the importance of identifying their unique value, but don’t know how to articulate it.
This is a serious mistake, because unless a prospect understands what you do and why you do it, they’ll remain unconvinced about your worth. In fact, without a strong value proposition your business won’t even get off the ground – it’s the first step in building your financial advisory practice.
Here are some tips on creating and expressing your value proposition.
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Using Analogies in These 3 Situations Can Help Turn Prospects into Clients
/ by Don Connelly / Storytelling, analogies and power phrases / 0 comments
It’s your job to get prospects off the fence. You need to persuade them that hiring you to manage their investments is the right thing to do. Before they make that decision, however, they need to understand what it is they are buying, and why they need to buy it. Because “people don’t buy what they don’t understand.”
This is where analogies can help push the balance in your favor. They make the unfamiliar familiar.
An analogy is “a comparison between one thing and another, typically for the purposes of explanation or clarification”.
Analogies can help you put forward an argument so that prospects see things in a new light – and conclude, of their own accord – that it makes sense to do business with you.
Here are three situations that warrant the use of analogies.
Read more
5 Reasons Why You Should Take The Time to Educate Your Clients
/ by Don Connelly / Best Practices / 0 comments
Don’t shy away from being a coach and educator to your clients. Adding in this extra element can help set you apart from the competition and deepen your relationship with them.
If you aren’t already educating your clients, here are five reasons why you should start doing it right away.
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