As I sit here, inundated with political ads. I remember several months ago recommending to all of my clients to give some money to both the Biden and the Trump campaigns.
As of October 22nd, the Biden campaign had raised $1.51 Billion, and the Trump campaign $1.57 Billion. I read somewhere that total political advertising during the campaigns would exceed $11 Billion (to include local and state elections.)
Why would I have suggested giving money to the candidate that you wanted along with the one that you didn’t?
Well, both campaigns have some of the best copywriters and other marketing experts in the country. I wanted to make sure I was on their direct mail lists, email lists, text message lists, Facebook lists, and everything else possible.
On my desk, I have a huge stack of mail just from the Trump campaign.
What are just a few of the take-aways?
Well, first they both understand what I call the “Parthenon” approach. Picture the Parthenon in Greece (or, Nashville.) A bunch of columns.
To be sure that you have a constant flow of new clients. More than you need. Qualified prospects so that you can continue to upgrade your clientele. You really should have a BUNCH of different ways to find new clients and allow them to find you.
With the campaigns, if you are on their lists they are using direct mail, email, text messaging, Facebook ads, Twitter, YouTube ads, outbound telemarketing, robocalls, branded merchandise, door to door canvassing, live events (rally’s,) broadcast TV, cable TV, streaming TV (Hulu, etc.), targeted billboards, “bandit signs,” booths at other people’s life events, “watch parties,” and, I’m sure 22 other things that I’m missing.
Now obviously you don’t have $1.5 Billion to spend, but there is a lot to learn. The lessons certainly include how each of the campaigns adapted to this crazy year.
At the least, you should learn the lesson to have a “bunch” of different things always working.
In addition, simplicity and clarity of message. Look at their marketing for messages that are “sticky” and, easy to immediately understand. The complicated boiled down to simplicity.
Notice, also that they email, direct mail, and text are almost always from an “individual person” not from a “corporate entity.” They’ve signed Kamala, Joe, Ivanka, Don, Jr., etc. You’ll see all personal communication in those areas coming from a known person, not from the campaign.
In talking with many financial advisors in the past few weeks, I continue to be shocked about how little they are doing to generate traffic and how they slink into obscurity, into “corporate voice” rather than building “a personality.”
Many are stuck in “do a great job and ask my clients to send me their friends.”
Don’t get me wrong you should have a number of “referral systems” – that consistently round up friends and families. But, most don’t really have a replicable system much less several.
What’s a “referral system?”
Well, live client appreciation events with recommendations to bring a friend.
Single topic books, that get shared in multiples with your clients to pass along.
Regular (several times per month) client communications with special reports or other tools that can be passed along.
Regular webinars or “zoom” meetings on specific topics that clients can share with their friends.
And, we could go on and on but you get the idea.
But, really the worst number is one.
The “Seal Team” has a slogan – two is one, one is none.
I’d say it differently. If you want 10 or 15 new clients each month then have 10 or 15 different things going on.
We’ll show you how to do that without a ton of manual labor.
By the way as far as adapting.
It’s amazing that most who were dependent only on lunch or dinner presentation went home and curled up in a ball rather than keep their marketing going and shift to webinars or zoom meetings.
Advisors who only know how to do presentations face-to-face rarely immediately shifted to zoom meetings with prospects and clients. We had been using that for years, but we even found new and better ways to use “social distanced” communications.
I’ve preached, as have many that the only constant changes. That adaptation is key to survival. Or, as Andy Grove said: “only the paranoid survive.”
However, this year really sorted the winners from the losers. The top 1% and top 10% from the mediocre majority.
We adapted in March and, the vast majority of our clients will have a record year this year. Ramping up some marketing channels (Facebook and email for instance immediately started kicking ass) and obviously shifting others (no in-person live events but quickly shifted to online meetings.)
Anyway, enough for now.
Stephen Oliver, MBA
Advisor Wealth Mastery
P.S. if you’d like to chat about what’s working now – and have us help you put together a very effective marketing plan to kick-off the new year then go to www.AdvisorWealthMastery.com – you’ll get a bunch of free gifts in addition.