Let’s Get Real, Advisors Are Ignoring You!
Research shows that most advisors are ignoring you. “More than one in two advisors never bother to review 90% or more of the marketing materials they’re flooded with, a Practical Perspectives survey of advisors reported.”
The new DOL fiduciary rule gives you a chance to reverse that trend.
Otto Rohwedder of Davenport, Iowa patented the first bread slicer in the early 1900’s. He died bankrupt. It wasn’t until almost 1930 that Wonder Bread marketed the first packaged loaf of sliced bread. “The best idea since sliced bread.”
What was true then is true now — ideas that spread, win. As Seth Godin has documented, No matter how great the technology, until the idea resonates, your chances for financial success are small.
The DOL intensified the differentiation crisis for RIAs, broker dealers, annuity manufacturers and distributors. The new regs will compress compensation (a major differentiator for many), squeeze margins (impacts product design), shrink the universe of advisors, and create for competition for fee-based advisors. Now it’s even harder to stand out. Some of you will thrive in this environment but others will lose. The difference can be as simple as getting your message and your idea to spread.
So how does that help you gain market share?
When everyone looks alike, those that stand out draw the greatest attention. If you’re an advisor trying to get the attention of potential clients you need an idea that will spread. If you’re trying to generate more business through advisors you need an idea that will spread.
Do you have the greatest idea since sliced bread?
…don’t forget what happened to Otto. He had the idea but nothing happened until the marketing team took over.
That was the challenge we were presented with by two of of our more recent engagements:
- Get a great “under the radar” business solution for RIAs on their radar
- Re-engage and energize advisors for an annuity manufacturer who had become disconnected
What’s the payoff?
- $29 billion in new demographically and behaviorally targeted opportunities
- Over 4000 advisors engaged and almost a 1000 wanting to talk with the company
At EAG Marketing we have a portfolio of unique and proven strategies that leverage integrated marketing, content marketing, training and educational value add programs. We focus on thought leadership and permission for value to open inboxes, doors and new business for our clients. Marketing’s objective is to create more engaging and meaningful conversations with your target audience.
The Japanese have a saying “turn disaster into fortunateness” that really seems to fit this week’s news. Our team understands this business and our mission is to leverage our knowledge and experience to make you stand out and your ideas spread!
Now is the time to get your ideas spreading!