I’m 50 in November, so I was due a midlife crisis.
It kicked in on Monday 17th April when I decided it was time to use my dormant gym membership. Since then, I’ve been going four or five times a week. I’ve also massively improved my diet so I’m consuming fewer calories than I’m using (apparently the experts call that a “calorie deficit”).
The result? I still have further to go, but I’ve lost 10kg (1 ½ stone in old money), feel better about myself and, last week, bought my first 32-inch waist jeans for over 30 years!
Despite the improvement, there have been times over the past few months when I’ve felt something was missing. The wake-up call came from a couple of fitness experts I’d started to follow on Twitter. They argued that to get the best results you need to push yourself in the gym and get out of your comfort zone.
I wasn’t doing that. So, I added more weight and pushed myself on the bike.
It was hard at first. And definitely uncomfortable. But I’m starting to see the results.
184 words into this blog and you might be wondering what my midlife crisis has to do with your marketing. That’s really very simple; when you push yourself out of your comfort zone and don’t give in to limiting beliefs, good things happen.
Let’s look at five examples. Do any of these apply to you?
#1: Client surveys
The fear: We know that some advisers/planners don’t run surveys because they’re worried about what clients might say, particularly when markets are volatile. Furthermore, many are dissuaded, even banned, from doing so by their PI insurer or network.
The reality: Most advisers/planners are nervous about running client surveys, but I’ve never heard of one who has regretted doing it.
Ideally, your survey will give you:
- Insights from clients that will help improve your business
- Information to underpin your recommendation strategy
- Data that’s good enough to be used in your marketing.
That’s a powerful combination and one worth getting uncomfortable for.
#2: Asking for online reviews
The fear: Some advisers/planners worry that if they ask clients for online reviews they will be seen as “bothering them”. Others worry that using two platforms (we always recommend Google and VouchedFor) is “overkill”.
The reality: Our research shows that 95.20% of clients are happy to recommend their adviser/planner to other people, while 98.19% say that working with the planner or adviser has helped them to achieve their goals.
So if clients are happy with you, why wouldn’t they leave an online review? Indeed, many will actively want to help you and leaving a review is an easy way for them to do that.
Again, we’ve run countless ratings and review projects for firms and every time good things have happened.
#3: Discussing referrals and recommendations with clients
The fear: Research from our friends at VouchedFor shows that 85% of clients have never been asked for a recommendation by their adviser/planner. There’s a long list of reasons why advisers/planners shy away from having the conversation with clients. Almost all of them fall under the heading of “limiting beliefs”.
The reality: Well-constructed conversations with clients should underpin your referral and recommendation strategy. If you get the conversation right your clients will leave more informed about:
- Who they should recommend you to
- When to do it
- How to do it.
But you have to take the leap and actually speak with them. Again, we’ve never heard of an adviser/planner getting pushback from clients when they do.
#4: Posting regularly on social media
The fear: Some advisers/planners worry that posting regularly on social media means they will annoy their connections or will cause people to unfollow or disconnect from them.
The reality: Most people vastly overestimate their reach on social media. For example, research shows that only 11% to 16% of your connections will see every LinkedIn post you upload. That means:
- There’s no way that posting every day on LinkedIn will annoy people
- You probably need to post far more frequently than you think you do.
#5: Our advisers/planners won’t do that
The fear: To market a multi-adviser/planner business effectively there are certain things you need your team to do. For example:
- Record all new enquiries in an agreed place
- Speak with clients about appearing in videos
- Ask clients if they’re happy to leave Google and VouchedFor reviews.
Too often though business owners and managers fear they’ll have an adviser-led civil war on their hands if they ask for help with these things.
The reality: Sure, some advisers/planners might grumble about being asked to help with the overall marketing effort. But if you explain to them why it’s important, make the process easy and show them the results, most are happy to get on board. Even if it means doing new things and leaving their comfort zone.
Good things happen when you feel the fear
As we’ve said for a while now, advisers, planners and business owners who want to improve their marketing need to feel the fear and do it anyway.
As Eleanor Roosevelt famously said, “Do something that scares you every day.”
Whether it’s the gym, your marketing or elsewhere, that’s a great mantra to live your life by.
