GUEST POST: by Keith Tulley
It is interesting to look at similar, related industries, and find out what they would advise us to do. In this article a professional who is not in the financial advice world gives his opinion about what he would expect from a financial adviser.
Getting people to trust your advice and commit to being a client can be tough for a novice financial advisor. After all, it usually takes a while to build a reputation and generate connections in any industry, especially one in which most of your appeal is derived from the fact that people become accustomed to trusting your expertise. So how do you establish that type of authority and get more clients to pay you for your financial advice? Consider the following 7 tips:
1. Give Advice That You Would Give Yourself
People don’t want to pay you for words and theories – they want results. If you’re only advising people to take actions in the interest of your own profit, without consideration to their success, eventually the facts will come to light when your client seeks a second opinion or is dissatisfied with the results obtained.
2. Offer Value Without Requiring Payment Every Time
A major turnoff for many clients is greed. No one wants to be charged every time they have a basic question. Although it is true that you should be paid for advice, as it is your profession after all, if you want people to want to pay you, then you’ll need to prove that you’re knowledgeable, and this may require being generous with some complimentary information from time to time.
3. Share Your Expertise Through Multiple Online Avenues
In addition to responding to queries and offering consultations free of charge it is also a great idea to regularly publish some free content for your followers and existing/prospective clients. Email newsletters, blog posts, social network status updates, eBooks, and YouTube videos are all great ways to spread awareness about your service while also sharing your expertise.
4. Highlight What the Features of Your Service Can DO For the Client
Oftentimes service providers overemphasize the features of their service without conveying to their clients and prospects exactly what these features can do. Again, people are more interested in hearing about results than “seeking advice.” Case studies and examples can help you illustrate the benefits of using your services.
5. Try New Advertising and Marketing Methods
With a thoroughly diversified outreach effort you can drastically increase the amount of leads that are inquiring about your services. If all you have is a listing in the phonebook and some business cards then it shouldn’t be surprising that you’re having trouble finding new clients. Consider tapping into the local market or examining new advertising channels such as forums and business directories. As long as you’re in need of clients your primary goal should be advertising in as many ways as possible.
6. Build Connections in Related Industries
A great way to gain valuable exposure is to network with other businesses that deal with your potential client base. Examples of good businesses to partner with would be real estate agencies, local banks and lenders, debt consolidation companies, and landscapers. All of these businesses regularly deal with people who are probably in need of financial advice (i.e. – homeowners, individuals in debt, investors, etc.).
7. Give Existing Clients Incentive to be Advocates
Every client you land is a potential advocate for your service. However, clients usually need a little bit of incentive and some guidance before they start promoting you. Offering a small commission in exchange for referrals is a good way to ensure that your clients are recommending you at every opportunity.
Author Bio: Keith Tully is a licensed insolvency practitioner with RealBusinessRescue.co.uk, a firm that helps distressed companies recover from debt and avoid liquidation.0