Financial Service Professionals - America's Best Kept Secret

By: Jay Stubbs
Submitted: 2007-01-17 12:33:07
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I often wonder why some professionals complain about not having enough people to call on. Then I hear moans and groans of not making enough money, and that business is slow. Now I'm not doubting that these people are making calls and asking for referrals, any good agent or investment rep knows that is what it takes. I am amazed, however, at the lack of simple marketing and advertising conducted by people running what they call a business. An advisor asked me once how he could get more prospects. After telling me what he was doing, I encouraged him to keep it up, but to quit being cheap. There was no website or proactive mailing campaign. I asked if any sort of appreciation event had taken place, and the answer was no. He wasn't even listed in the Yellow Pages and had never placed an ad in the newspaper or local magazine. And I know that this professional gives great service and knows his stuff, but he is keeping it a secret from the rest of the world by not promoting himself or his business.

Promoting yourself and your business is not selfish, it's vital to your livelihood. What's selfish is taking all of your revenue as personal income. Think of other companies that rely upon sales of commodities. They spend a great deal of money putting their name in the forefront of people's minds. It is a percentage of gross revenue, and usually works out to about 10%. Now I know you're in no position to run TV ads and post billboards. In fact, what you need to do is even easier and less expensive. Simply advertise to those people that already know who you are. If you gross $100,000 a year, spend around $500 to $800 per month. Make $50,000 per year? Then $250 to $400 per month should be adequate. If you do it smart and do it right, your advertising will pay off.

Now what will that monthly budget get you? Plenty. You can start a newsletter campaign for 200 clients that will run you about $1,200 per year. It is sent every other month and is provided by Market Connections. Visit www.salesjive.com for more information.

You could also host a Client Appreciation dinner or other event, asking them to bring two guests (prospects). Make it fun. Make it memorable. Do it Right. It will cost you around $20-$25 per person.

You now have enough left over for a little newspaper advertising or a Yellow Page ad. Run something eye catching. Prompt for a Call to Action. Make sure your Business Name, Your Name, Website and Phone Number are in the ad.

No website? Did you know you can set one up for under $100 per year? Not having an internet presence today is like not having a fax machine in 1995. If you want the 19 to 38 age group to know about you, then you better get a website because that's how most of them will research your business. Visit www.naifa-mobile.org for an inexpensive site I set up for my local NAIFA chapter.

Advisors today are good at helping people think through financial concepts and put plans into motion for a secure future. They ask good questions and listen well. They are attentive to the needs of their clients. This is GREAT service, so why wouldn't one want to promote it? The bottom line: Don't take all your Revenue as Personal Income. I am sure you are a good advisor, you just have spend a little money to let people know it.

About Jay Stubbs

Jay Stubbs is an experienced Financial Services Sales Director and Qualifying Member of the Milion Dollar Round Table.

Jay offers FREE Consulting and Speaking for Financial Service Professionals

For more information, sales ideas, advice and free consumer articles, visit Jay's website.

http://www.salesjive.com

Article source: Expert Articles