Creating a Compelling Brand

[Marie Swift]

At a time when the entire financial services industry is under scrutiny, clients are more guarded with their money-and their trust. As a result, your image as an advisor is more important than ever. It's essential to be able to communicate your value. In other words, you gotta have a brand. In fact, you gotta have a clear, strong, authentic brand.

Brand is your image: the mental picture clients, peers and prospects have of you and your services. Your brand should embody what's special about you and what you can offer that distinguishes you from competitors. It is the most critical element in recruiting and retaining clients. You may be the savviest financial planner in town, but if you and your staff are not perceived as providing an invaluable service, you're likely to find attracting new clients a challenge.

What does your practice mean to people? When clients describe you, what do they say? Is it accurate?

Have you taken the time to think through and write out your “brand promise”? I provided ideas on how to get started in my last article for Financial Planning magazine (March 2010 – Special Report on Practice Management). Access it here:

http://www.financial-planning.com/fp_issues/2010_3/special-report-your-practice-management-questions-answered-2665929-1.html

Through this Discussion Board, I am available all this week to answer questions on creating a strong and compelling brand. You’d pay hundreds of dollars to speak with me on the phone for a private counseling session, and those openings are far and few between.

Smart advisors will see a great opportunity to get free advice in a virtual group setting, thanks to Financial Planning magazine.

I look forward to interacting with you this week!

Marie Swift
Marketing Communications Coach
for Financial-Planning.com

[Tristan]

Is it wise to distinguish your marketing strategies from your current clients to your prospective clients? I know I need to have different marketing materials for the two, but I'm wondering about my image. Should I articulate my image in a different way before and after someone becomes my client? If so, what are the differences?
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Tristan Brown / Indianapolis, IN / Dental Insurance Plans / Insurance Guru

[Marie Swift]

No. I don't think you need to articulate your value or project a different image before and after someone becomes a client. You are who you are. The promises you make to prospective clients are the promises you make real when they become a client.

I don't think you need different "marketing materials" for the two. You need marketing materials for prospective clients and referral sources. And you need client communication materials for your current clients and referral sources. All the materials should reinforce the same message - your Unique Value Proposition.

It's true that we are always reselling ourselves - even to current clients. That's some of what I talked about in my article in the July issue of Financial Planning magazine, What Have You Done for Me Lately? See if the thoughts provided in it help, then come back and ask any other questions, post comments, etc.

Marie Swift
Marketing Communications Coach
For FinancialPlanning.com

Is it wise to distinguish your marketing strategies from your current clients to your prospective clients? I know I need to have different marketing materials for the two, but I'm wondering about my image. Should I articulate my image in a different way before and after someone becomes my client? If so, what are the differences?
_____________________
Tristan Brown / Indianapolis, IN / Dental Insurance Plans / Insurance Guru