Financial advisors: what sets you apart from your counterpart down the street – or the one with a similar Google page rank?

The market is saturated with people just like you. There, we said it. That’s the bad news.

The good news? There’s hardly a market that isn’t saturated, and saturation does not mean you can’t stand out.

What you need to do is identify your true differentiator, build that into your messaging, and adopt a voice that is uniquely you in all of your marketing. On board? Let’s explore.

Why try to be different?

The goal, of course, is to set yourself apart so that clients have a reason to choose you over your competitors.

It means getting past your service offerings – because you’re all selling the same thing. What’s going to set you apart is the way you sell it, the experience you deliver with it, and the way you talk to your customers. Your differentiators need to be specific to you and the way you and your company do business.

Yet when we ask advisors what makes them different, we often get a laundry list of the same replies:

• I provide my clients peace of mind by making their lives easier.
• We have world-class customer service.
• We take a holistic approach to financial well-being.

We’re going to let you in on a little secret: if the same things you’re listing land on your competitors’ list, then they’re not your key differentiators.

How to Differentiate

Differentiation doesn’t require coming up with a new service offering or overturning your current business model. What it does require is that you position the way you deliver your services differently -- and then create messaging around that difference.

Sounds impossible? We promise, it’s not. The key is to consider your target market, your true strengths (where you can differentiate), and how they align with your business goals. Here’s a brief glimpse at a framework:

1. Get to know your target market. Research, survey, and drill down into the specifics of who you are ideally serving. “45-year old couples” is not enough. Where do they live? What do they do? What do they care about?

2. Identify your true strengths. What truly makes your practice or your firm different? Get specific. Some ideas to prompt your thinking:

• Proprietary models or software. Is there some distinct aspect of your financial model or software that makes you better able to serve your clients’ needs?
• Mission. Do you work for a higher cause that will resonate with your clients? Social responsibility is well respected – but must be done authentically.
• Experience. Is there an aspect of your past experience – either in business or life – that sets you apart and would be valued by potential clients?

3. Consider what’s important to your clients. Knowing what you do about your target market and your true strengths, ask yourself this: what does this distinct difference mean for my potential clients?
Remember: you’re in your business to serve your clients. If your differentiator doesn’t have a positive impact on their lives, it won’t have a positive impact on your business, either.

4. Develop your message with your clients in mind. Speak to the things that will resonate with them. Forget the fluff and skip the non-essentials that don’t set you apart. Don’t be boring. Differentiation doesn’t require an incredible amount of cleverness, and it certainly doesn’t have to be absurd. But it does require stepping outside of your box to break tradition and add some flavor. Perhaps you try to sound more hip and conversational like FitBit or Apple.

Once you’ve run through these steps (yes – it does take time!), it’s crucial that you put your message front-and-center.

Marketing Your Differences

With your position defined, it’s time to go big or go home. Apply your message to your physical collateral, your advertising efforts, and your digital presence. Let it drive your content strategy.

Shout it from the rooftops: tell the community who you are, what you do, and how it’s different.

Most of all, be consistent, be patient, and be true to your core values. Authentic, sustainable positioning that fits your brand will take time to settle in – but the upfront investment is well worth the long-lasting reward of building your client base with customers who appreciate you.

Considering attending the Sales and Marketing Summit 2015? Want to learn more before registering? We're here to help!

Ken Schmitt, the President and Founder of TurningPoint Executive Search/Sales Leadership Alliance, and the Moderator of the upcoming Summit, is here to give us the inside scoop about the event while sharing some extra facts with our blog only. Ken, take it away!

What is the Sales and Marketing Summit 2015?
The Summit is an all day, two-track, innovation conference that caters to sales and marketing leaders. While other events may support sales professionals or the marketing community, this Summit will bring these two constituencies together in one place and one time. Rather than focusing on innovative products, this year’s event will focus on innovative sales strategies and creative marketing trends. Our theme is “Dynamic Disruption”, highlighting companies that are truly disrupting their respective marketplace. From leveraging analytics to amplifying customer engagement, our lineup of speakers hail from leading edge organizations and will address the significant changes taking place between buyers and sellers on the externally, and sales and marketing internally.

What was the genesis of this event?
I had been thinking about hosting this type of an all-day event for a couple of years, as the lines between sales and marketing became more and more blurred. Back in 2011, as I rebranded my recruiting firm, TurningPoint Executive Search, to focus on placing sales and marketing professionals, I quickly realized there was a lack of opportunity for sales and marketing professionals to receive training and professional development in the marketplace. I launched the Sales Leadership Alliance (SLA) to meet this need, providing a venue for sales and marketing leaders to learn from some of the region’s best, hear stories of success and lessons learned, while networking and sharing leads with their peers across a variety of industries. The 2015 Sales and Marketing Summit is the next step in fostering this atmosphere of collaboration here in Southern California.

Who should attend and why?
This Summit is uniquely geared toward sales and marketing leaders, small business owners, and entrepreneurs who support the sales and marketing function. Regardless of industry or company size, we see a huge need to provide opportunities for professional development among this group. Our speakers range from industry giants such as GE Capital, CNN, Illumina and Smith Micro, to cutting edge innovators like CrowdStrike, Ziprecruiter and Global Transitional Care. Attending the Summit will expose our attendees to a wealth of best practices and up and coming trends designed to increase customer engagement and conversion.

How would millennials gain value from this summit?
Thanks to social media, the sharing economy, big data and a heightened reliance on consumer generated recommendations and reviews, it is much more difficult to pinpoint where marketing ends and sales begins. Moreover, fewer and fewer companies are providing any formal training to equip their sales and marketing leaders with the tools necessary to build and motivate a successful team. Millennials are bearing the brunt of this training deficiency. As they make their way up the corporate ladder, taking on more and more responsibility, they are expected to foster an environment of partnership and accountability across departments. However, they are afforded very few opportunities to gain exposure to the various functions outside of their area of expertise. More and more of our recruiting clients are asking for sales and marketing talent that possess the communication skills and hands on experience to collaborate with one another. This is the perfect venue for millennials to gain these skills.

Why is it essential that sales and marketing work together?
I have always been a big believer in the power – and need – to bring sales and marketing professionals together. Too often, companies end up creating a somewhat adversarial relationship with sales on one side, and marketing on the other. Marketing blames sales for ignoring the leads they generate and promising the world to their prospects and customers; sales blames marketing for providing less than ideal leads and creating meaningless campaigns. The Sales and Marketing Summit will help break down these walls, allowing these two integral parts of the company to come together and learn from one another, ultimately making the individuals and their respective businesses more productive.

Where can our readers find more information and register for the Sales and Marketing Summit 2015?
The website is www.salesmarketingsummitsd.com. The site includes a video with interviews from some of our speakers, the full agenda and location of the event, and or course, registration links.

Guest post by Angelo Ponzi, Co-Founder and Chief Marketing & Strategy Officer of Strategic Market Intelligence

Storytelling can be found throughout history and in every culture around the world.  The art of storytelling is certainly not new and has been used to recite the tales of great heroes or villains.  Storytelling has been used to shape and redefine events in order to persuade and change possible outcomes in history.

Power Up Persuasion

When you think about storytelling, don’t think in terms of “once upon a time” but instead what story you’re trying to communicate. When you think about presenting your brand to the marketplace or the 110-page report you just developed after weeks of research, you need to think about your audience and how your presentation, whether it’s a TV commercial or PowerPoint, will it persuade and motivate them.  Persuasion requires that we distinguish our message from other messages to which our audience is being exposed, provide them with the information they are unable to get elsewhere and do it in a meaningful way.

Great business leaders such as Steve Jobs or Jack Welch understood how to use stories when talking about their companies or products.  Advertising also embraces the idea and impact of storytelling.  Think of the conquering heroes of the Red Bull “Got Wings” commercials or how an entire generation embraced Pepsi.

There are lots of ways to approach telling your story. It doesn’t matter if it’s a movie, play, book or the presentation to the board — keep it simple and focused.

What Does Your Story Say About Your Brand?

Every one of us is impacted by the stories told by brands.  In fact, we each make brand/product choices hundreds of times each day.  In most cases, we don’t even think about it.  While the reasons we make those choices vary, brand choice is always a part of our decision process.  What does the brand stand for, and what is its story?

Think of Coke, Pepsi, Chevy, Volvo and Virgin America, for example.  I’d be surprised if every one of their stories didn’t pop into your mind, regardless of how you feel about the brand.

The goal for the brands you represent is for it to become an integral part of your customers’ personal or business lives.  If the story your brand tells fits into their lives and provides them with a solution to their needs, then you have customers for life.

Build Sentiment or Bust

However, a story that is not relevant and means nothing to your audience will lose audience engagement.  Your job is to make sure your audience cares about the story you’re telling.

From the beginning of man to our current digital age, storytelling has been an important aspect of life.  As the cave man stood in front of the fire pointing and grunting to tell the story of his hunt, to the executive at the local watering hole after work telling her colleagues about the killer presentation she made to the CEO, storytelling has and will continue to be an important part of who we are both personally and professionally.

Angelo brings over 25+ years of business experience in sales, marketing, branding, strategic planning and research to Strategic Market Intelligence. His senior level expertise includes developing and directing comprehensive market/product research, branding and communications plans for a variety of business-to-business, consumer, medical, package goods, general retail, fast food, financial and high-tech clients.  He has led both small and large teams at global, national, regional and start-up companies, as well as worked with products in all stages of their lifecycle, from inception to implementation. Previous positions have been on both the client and advertising agency sides of the business giving him a unique understanding of his client’s marketing and communications needs. Prior to founding Strategic Market Intelligence, he was a senior level business/marketing consultant, Director of Sales & Marketing at PhaseOne, EVP/Director of Marketing Services and principal at Open Minds/RPA for over eight years, as well as founded and ran his own marketing agency for fourteen years. To learn more about Angelo and Strategic Market Intelligence, visit www.strategicmarketintelligence.com.

Guest post written by Callan Capital

Have you been through a financial event like a divorce, IPO, sale of a business, or inheritance? Chances are, these emotionally-charged circumstances have left you feeling like you need a roadmap for your financial future, or the help of a financial advisor or advisory firm.

In their relationship with an advisor, investors value communication, trust, and performance. With this in mind, finding a suitable advisor for you and your family can be a time-consuming process. By following these tips below, you can find an advisor that is competent, trustworthy and fulfills your unique long-term goals and objectives.

Research the advisor and ask for recommendations

The simplest way is to perform a google search where you can find an advisor's website and any news related to the advisor or advisory firm. Additionally, search for an advisor’s form ADV through the Securities and Exchange Commission (SEC). The form ADV states the investment style, assets under management and key officers of the firm. In the financial advisory business, existing client referrals are important. Often times, friends, family, and colleagues have insight into your personal circumstances and may be able to match you with a financial advisor with whom they work. Before signing on with an advisor, ask to speak with an existing client regarding their services for an unbiased opinion. Additionally, ask for a sample financial plan, sample investment portfolio, and a breakdown of any and all fees.

Credentials matter

There are many credentials available to financial advisors, yet we believe there are a few that are more important than others. The CFP designation (Certified Financial Planner) is designed for financial planning professionals who complete extensive training, are held to rigorous ethical standards, understand complexities of the changing financial climate and make recommendations in a client's best interest (5 Key Credentials to Seek in a Financial Adviser Read). The CPWA designation (Certified Private Wealth Advisor) is designed specifically for advisors committed to serving high net worth clients and is awarded to individuals who complete coursework and examination with 40 hours of continuing information every two years. The CIMA designation (Certified Investment Management Analyst) is the only credential for advanced investment advisors and consultants and is awarded to individuals who complete a 5 step certification process and pass two exams. The CFA designation (Chartered Financial Analyst), best for those in active portfolio management, is designed to bridge current practice, investment theory and ethical standards to provide investment analysis and portfolio management skills.

Ask questions about performance numbers

In our opinion, many advisors in the industry will show ambiguous performance figures.  Often times, an existing portfolio will be “backtested” to show performance figures for several years which may be inaccurate unless the advisor actually held the exact portfolio several years prior to their clients and the only trades placed were to rebalance back to the original allocation. For example, if an advisor adds Apple stock to their portfolio yesterday and replaces Hewlett Packard and a potential client asks for 5-year performance numbers of the portfolio, many advisors will show the portfolio as if it held Apple for 5 years. The disclaimer will likely highlight that the performance figures are a back test of the advisors current portfolio but not the real performance of actual clients.

It’s important to ask for a composite of actual client returns which aggregates all clients in a specific strategy rather than just highlighting the best of the bunch.

Fiduciary vs. suitability standards

Registered Investment Advisors (RIAs) are held to a fiduciary standard, which means that they are legally bound to act in the best interest of their clients. RIAs must disclose any potential conflict and how they are compensated. Brokers-dealers are held to a suitability standard, which means that they may or may not be acting in the best interest of their clients. A broker’s advice must be suitable for a client, but it may not be best for the client.

Working with an advisor or advisory firm is a highly personal decision for you and your family. Especially during uncertain or anxious times, it is imperative to find an advisor that will provide clarity, direction, and discipline as you make significant wealth decisions.

Want to learn more about Callan Capital or wealth management? Check out their website or connect via LinkedIn!

By Marshele Scherrer

Today I'm sharing a few favorite spots around San Diego to meet clients. Enjoy!

Lofty, Solana Beach
132 South Cedros Ave.
Solana Beach, CA 92075
Phone: 760.230.6747
Monday – Friday: 6am – 6pm
Saturday & Sunday: 7am – 6pm

Lofty’s is one of the newest residents to Cedros Street. They are serious about coffee and it is seriously good coffee. Don’t forget to try one of their organic treats too. The cafe has tons of outdoor seating and cozy greenery surrounding the patio. It is the perfect place to set up all day and meet new people. Cedros Street is such a great location for meeting new clients as the design district brings people looking to be inspired or open to change and new opportunities.

Green Acre, Torrey Pines
10300 Campus Point Dr.
San Diego, CA 92121
Phone: 858.450.9907
Monday – Friday: 7am – 3pm

Green Acre is centrally located in the UTC area and makes an ideal lunch option for bringing clients or making new ones. They have a comfortable reading room to spend the afternoon getting work done. Take a break and play a game of pool with potential clients or take a tour of their garden where they grow fresh organic food to be served in the restaurant. This place has a very open and great vibe to it. Check it out and let us know who you meet.

Specialty Cafe, La Jolla
4330 La Jolla Village Dr.
San Diego, CA 92122
Phone: 415.362.2052
Monday – Friday: 6am – 5:30pm

Specialty Cafe makes everything according to its name, “Specialty.” This is one of the only places in San Diego that I have been that makes an Almond Milk Latte. I also like that they serve Peet’s Coffee over the overused and over-roasted Starbucks brand. Validated parking is a huge perk especially compared to the downtown business district where parking can be astronomical. There is lots of seating inside and outside with plenty of outlets to plug in. There is a large community table too. Grab a spot there during the week and meet like-minded San Diegans.

Herringbone, La Jolla
7837 Herschel Ave
La Jolla, CA 92037
Phone: 858.259.0221
Lunch: Monday - Saturday: 11:30am - 2pm
Happy Hour: Monday - Friday: 4pm - 6pm
Dinner: Sunday - Wednesday: 5pm - 9pm, Thursday - Saturday: 5pm - 11pm
Weekend Brunch: Saturday & Sunday: 10am - 2pm

Herringbone, located in La Jolla Village, is a local favorite. It has a fantastic rustic chic backyard feel and a lively energy that is second to none. Come here for happy hour during the week or take advantage of their $15 bottomless mimosas for Sunday Brunch. The breakfast pizza and the lobster rolls come highly recommended. La Jolla Village is a great place to meet native San Diegans and is a hub for successful business men and women.

Post originally published on This Good World's blog

As you probably know if you're here reading this blog, one of our biggest goals at This Good World is helping brands, businesses and organizations tell the stories of the good they're doing. We're certainly not alone in this effort... not by a long shot. There are a ton of businesses out there using their skills, expertise and influence to not only spread the good, but ultimately help others do even more good. One of these organizations is Visceral - a digital design and development agency based in San Diego, CA focused on supporting the creative needs of non-profits and socially conscious businesses. We've recently had the good fortune to get to know them a bit over the past few weeks and couldn't wait any longer to share their story. The interview highlights below from our discussion with Co-Founder and CTO Jason Buys details Visceral's efforts in selecting impactful clients, treating their employees right, gaining inspiration from others and so much more.

TGW: Your client list and their initiatives/efforts are pretty incredible. Was there something that impacted your decision or focus on only working with clients that are doing amazing things for the greater good?

Jay Buys: Yes and no. Initially, we didn't set out to build a business dedicated to working with nonprofits and cause-driven organizations. We knew that we wanted Visceral to stand apart from our competitors, and we felt that the way to do that was to have a greater purpose than to simply build websites for large corporations and turn a quick buck. But as a small partnership just starting out, we weren't quite sure how we'd accomplish that.

Shortly after Visceral's inception, we lucked into working with a couple of nonprofits and immediately felt a level of enthusiasm for our careers that we hadn't experienced before. Helping to empower these organizations to thrive in the digital world was tremendously satisfying. In the 9 years Visceral has been in business, we've worked with a wide array of clients in different industries, which has given us the ability and confidence to essentially work on anything. However, helping nonprofits and mission-driven organizations tell their stories to the world is far more rewarding and fulfilling. We're very proud to be one of the leading digital agencies with a vested interest in doing good.

TGW: Similarly, do you find yourselves gaining inspiration from the good things your clients are doing? Have there been instances where you've shifted the collective thinking within the Visceral walls to reflect this inspiration?

Jay: Absolutely. This is one of the best aspects of working with mission-centered organizations because with each new project, we learn about another way in which a positive impact is being made on the world. For example, we just launched a site called 'A Closer Look at Stem Cells' for the International Society for Stem Cell Research, which provides a wealth of information on the numerous advances we're seeing in the life sciences.

We're also proud to have developed the website for the Marine Corps Scholarship Foundation, an organization that awards need-based scholarships to military children. I had the honor of giving a presentation on entrepreneurship to MCSF's 2014 scholarship recipients and interacting firsthand with these bright young men and women.

As such, this kind of work is incredibly inspiring for both Visceral as a company as well as for our employees on a personal level. I think it's virtually impossible to feel grim or jaded about your life and your work when you're directly involved with, and witnessing firsthand the impact of, doing good.

TGW: Your This Good World profile mentions your emphasis on creating a fun and flexible work environment for your employees. Can you give some examples for our readers of some of the things you do for/with your staff?

Jay:  It was very important for Matthew (Visceral's co-founder) and I to make Visceral a relaxed, fun working environment. We both have a strong work ethic, but we're also laid back and approachable people. We believe that you can still accomplish your business goals without inflicting rigid corporate parameters on your employees, and that productivity actually increases as a result of being flexible.

Some of the things we do to make Visceral fun is having craft beer on tap; an office pool table that gets used 2-3 times a week; offering flexible work hours; and company outings, like baseball games and happy hours. A couple years ago, we did a staff retreat in Tahoe, which was awesome. We also encourage and pay for our employees to attend conferences that they're interested in--fostering professional development is really important to us.

TGW: We've talked in our exchanges about the importance good design and user experience plays in the digital world. We love your stance on this, as this is probably especially true for your nonprofit and socially conscious clients. Can you elaborate on this a bit?

Jay: Any organization whose purpose is to mobilize their base to act, or to donate money to their cause, has to first establish a sense of credibility. These days, that is done almost solely via an organization's website. There are certain interactions from a website that people simply expect now: smooth and fast load times; straightforward content that clearly states the call to action; and a site that works on tablets and phones without frustration.

We believe stunning design paired with a thoughtful user experience has the power to inspire authentic engagement. The organizations we work with are trying to solve complex, real-world challenges. We use design to break down those complexities into an at-a-glance narrative that is essential for engaging supporters online.

By illustrating an organization's social impact--and weaving in engagement opportunities throughout the narrative--we have not only inspired support, but offered patrons a clear, accessible way to get involved. A well-produced experience is a facilitator of action. Moreover, it's proof that an organization is modern, savvy and ready to tackle challenges in fresh and innovative ways.

TGW: Are you currently looking for clients within a specific vertical in the nonprofit/social enterprise space? If so, what's the best way for someone to get in touch to chat with your team about their design, web & tech needs?

Jay: The best way to get in touch with us is by shooting us an email at info@thisisvisceral.com, or by visiting our website at thisisvisceral.com/contact.

As far as specific industry verticals are concerned, we're very interested in emerging technologies that offer solutions to the crucial environmental issues we face, such as clean energy and water. We're also huge supporters of the life sciences and its many advances that will continue to improve our global quality of life. Wildlife conservation is paramount to us; all of us at Visceral are animal lovers, and working on the Wildlife Conservation Network's website a few years ago educated us on many different conservation efforts. Finally, we would love to continue working with humanitarian / philanthropic foundations; from supporting education, to the arts, to poverty alleviation, the work these organizations do preserves our humanity as a whole.

By Angelo Ponzi, Co-Founder and Chief Marketing & Strategy Officer of Strategic Market Intelligence

Developing messaging for your new campaign is simple, right?  Identify the markets or categories you want to target, get to know the customer—his or her decision journey, motivations, pain points – then develop your brand message, slogan, creative and communications channels. Then market to them with a one-size-fits-all approach. Easy right?

Wrong!

Every year companies launch campaigns only to have them fail. Sometimes it’s the messaging that doesn’t speak to the needs of the buyer. Other times, it’s the behavior the campaign is trying to influence. Or, the channels are just not resonating with the way the customer consumes information. Or, worse, it’s a combination of all of these factors.

That’s why understanding the dynamics of the market in which your company or brand is competing is extremely important. So many times we tend to focus on the campaign development that we forget to think about market dynamics.

Besides the customer themselves—IT Managers, C-Suite, etc.—the competition (single product or multi-product competitors) and your overall image as a brand, you have to also consider the current political environment, the economy, technological changes and other external factors that can have an impact marketing success.

And, while you’re looking in the rearview mirror at your primary competitors, don’t forget to look out the front window at the smaller brands that have a foothold in the market or markets you serve. Maybe there are already five other brands in the market and you’re the last one to enter it. Maybe you’re the market leader and you’re trying to fend off the competition, or new and better products? Or, you’re the leader in one product category, but a challenger in another. Knowing where your brand and or your various product/service offerings stand in the market is essential before developing your campaign strategy and messaging platform.

Take all of these influences into consideration when you’re structuring and defining your positioning, your values, your overall strategy and, ultimately your messaging. The way you speak to the market is very different if you’re a leader rather than a challenger. A one-size-fits-all strategy is not a strategic solution.

One piece of advice I give my clients is to think globally, not locally. By locally I mean the US, for example. Why? Because the image, position or reputation that your brand communicates is only one tweet, blog, post, link or share away from being talked about on a global basis.

What, you don’t sell internationally? Well maybe not today, but someday when you do, everything known about your brand will already be out there!

Keep in mind that while your messaging or the way you communicate may change based on the dynamics of the market, it is of utmost importance that your brand’s personality doesn’t change as you’re doing it. You need to establish your brand’s core personality, including the tone in which you speak to your audiences, and keep it consistent. You need to consider identifying a common motivation or need across markets that speak to their aspirations or values, not just your product features and benefits. This way the overall image and culture of your brand remains consistent and familiar to your various audiences.

In thinking about the markets you serve and the dynamics of each of those markets, keep several things in mind.

1. Does your audience think about your brand across all of the markets/product categories you serve? Does it have the same associations with your brand? If customer attitudes vary by market and there is inconsistency, then there is a strong possibility communications that work in one market will not work in the other.

2. Know your market position and market share. Messaging that speaks to customers/prospects from a leadership position is different than that of a challenger. One of the mistakes companies make is to assume that the communications they create for a well-established brand in a mature market will also work in a new or emerging market. Familiarity with the category often determines how much you need to explain to your target audience versus what you can assume they already know.

3. Be mindful of your competitors. Take the time to analyze their communications, not just their product features, sales and market share. How are they speaking to your customers and prospects? Are there gaps in their messaging strategy that you can take advantage of? Is it a crowded category? What’s their spending level and which channels of communication are they using? Remember, just because your message may be distinctively in one market or product category doesn’t mean it will resonate in another.

So, when putting together your new campaign and developing your communications strategy, don’t assume a one-size-fits-all messaging strategy.

Take the time to understand the dynamics of the market you’re competing in as they will shape your strategies, your messaging and your brand.

Angelo brings over 25+ years of business experience in sales, marketing, branding, strategic planning and research to Strategic Market Intelligence. His senior level expertise includes developing and directing comprehensive market/product research, branding and communications plans for a variety of business-to-business, consumer, medical, package goods, general retail, fast food, financial and high-tech clients.  He has led both small and large teams at global, national, regional and start-up companies, as well as worked with products in all stages of their lifecycle, from inception to implementation. Previous positions have been on both the client and advertising agency sides of the business giving him a unique understanding of his client’s marketing and communications needs. Prior to founding Strategic Market Intelligence, he was a senior level business/marketing consultant, Director of Sales & Marketing at PhaseOne, EVP/Director of Marketing Services and principal at Open Minds/RPA for over eight years, as well as founded and ran his own marketing agency for fourteen years. To learn more about Angelo and Strategic Market Intelligence, visit www.strategicmarketintelligence.com.

By Lauren Hong

Post originally published in Advisor Perspectives

Millennials are bucking trends day-in and day-out. As of 2013, they’re officially the largest, most diverse generation in the U.S. As a financial advisor, you cannot ignore them. Here’s how to include millennials in your marketing plan.

First, take the time to understand the generation better so that you can tailor your marketing message in a way that speaks directly to them.

Who are the millennials?

Millennials were born between 1982 and 2004, making them anywhere from 11 to 33 years old today.

Millennials have a few notable traits that significantly set them apart from the generations that came before them:

• They’ve broken from tradition when it comes to families. Millennials aren’t in any rush; they’re marrying and starting families later. Of the 18-33-year old population, 26% are married. According to research from Pew shared on Huffington Post, 36% of Generation X and 48% of Baby Boomers were married during that same age range.
• They’re burdened with massive education debt. Easily qualified as the most educated generation – in part due to extreme costs, but also largely due to the Great Recession that killed the job market and encouraged graduate school – millennials are finding themselves with lingering debt.
• They’re less likely to be homeowners at a “young” age. Not forgoing homeownership altogether, millennials are waiting longer to make the move. The White House reports three factors at play here: the job market, continued education and delayed marriage.
• They’ve fundamentally shifted the way we communicate. Not only are millennials majorly influenced by technology, but they’re also the ones influencing the way technology develops – both as users and creators. Millennials were pioneers in social media and digital communication, turning the advertising and marketing world up on its head. They’ve given an entirely new importance to the terms “networking” and “communities.”

Millennials are a fascinating generation. Often assumed to be narcissistic, millennials simply grew up in a time of abundant choices, and they’re making the most of them. Why does this matter to you as a financial advisor? This passion-seeking, selfie-taking generation is, quite literally, the future of your company.

Adapting to the social media generation.

Now that you have a better understanding of who millennials are, it’s time to start a conversation with them.

Not quite sure how to begin? Try these tips:

1. Engage them. Don’t tell them what to do, but engage them and ask for their opinion. Social media is the best place to start a conversation. Go on Twitter or Facebook and pose questions such as “Do you find it hard to save for retirement and pay off student loans at the same time?”
2. Talk about their values. Millennials are typically not homeowners, so they usually don’t care about estate planning. Instead, try talking with them about a new app for managing their finances. Then they will be more likely to listen because they highly value technology and efficiency.
3. Add value to their life. Millennials typically push away from tradition. They like to pave their own way. However, they are always keen to hear helpful tips to make their journey a bit smoother. Give them tips that can help them to pursue their passions. You might suggest tax write-offs when starting their new business or funding options for startups.

Once you understand millennials, you’ll realize it’s time to get a little uncomfortable in your marketing.

Marketing that matches millennials.

Direct mail and billboards aren’t the way to a millennial’s heart. Your digital strategy is more important than ever before.

Start with your website. Is it modern, easy to navigate and responsive to mobile devices? These three points are non-negotiable.

Switch up your channels. Millennials might not be receiving a daily newspaper on their doorstep, but you better believe they’re checking in on their favorite blogs daily and refreshing their Twitter feed every chance they get. Speak to them in their language. Be realistic. Choose 1-3 social media platforms, create a sustainable plan and do it well.

Support a cause. Social causes rank among the top priorities of millennials. In fact, Crain’s Chicago Business lists corporate social responsibility as the millennials’ “new religion.” Give millennials a cause to get behind, and their loyalty to your brand will skyrocket.

Marketing to millennials takes a mindset shift. Once you embrace that, you can have a lot of fun. The best time to get started? Now. After all, millennials are growing up, and who better to serve their financial futures than you and your business?

Congratulations to Callan Capital on the launch of their newly redesigned site and refreshed marketing collateral! Callan Capital, an independent wealth management firm in La Jolla, approached Out & About Communications to refresh their look. They wanted their website and marketing collateral to be modern, to have a uniformed look, and to better tell their story. We worked them to do just that. Their newly launched site has received rave reviews and their marketing pieces have gone to print! See the Callan Capital website in action.

Blog by Lauren Hong

Financial advisors: you need more female clients.

We said it. When your ideal client characteristics include educated, decisive, and dedicated to investing in the future, you just cannot forgo the women of the world. Especially when it’s women driving the decision-making in their families and embarking in entrepreneurship themselves.

Not only that, but studies are showing that women are, in general, more likely to “see risk as more important in creating wealth,” according to Financial Advisor Magazine. Oh -- and they just happen to be the gender that, on average, lives longer.

So why doesn’t your client roster include more women? The secret’s in your marketing.

Take the time to understand.

Catering to the female market is becoming ever more important in the financial industry. Women are a dominant force in businesses, in families, and in social circles.

There’s one thing women need for you to win them over, though: you need to understand them. When 69 percent of financial advisors are men, this becomes quite the task.

It starts by getting to know them -- and dropping all stereotypes and former assumptions. Consider it the courting process. Do your research and pay attention. Here’s what to consider:

Pain points. Women are known to be better communicators. Take the time to actively listen. Are they concerned about their children’s future education costs? Their aging parents’ estate? Their current spending and how that sets them up for the future? Talk to your current female clients, spouses of current male clients, or prospective female clients. Identify what’s really at the core of what she needs.

Risk-aware vs. risk-averse. Typically billed as risk-averse, Financial Advisor Magazine debunked that myth to better describe a woman’s mindset with investment as risk-aware. Understand that women are willing to take the risks so long as they’re aware of the potential benefits and downsides, and the game changes.

One size does not fit all. We’re talking very generally about marketing to women right now -- but let’s remember that not all women are the same. As CNBC points out, “women” are no longer a niche within the financial services industry. Simply saying you cater to female clients doesn’t give your services the exclusivity needed to appeal to any certain sort of person. Consider the qualities of the women you want to work with -- demographics and psychographics -- then start by marketing within those parameters. You can’t please everyone, but you can do a heck of a job of pleasing a targeted market.

Just ask. Keep in mind the old adage, “ask and you shall receive.” The best way to avoid stereotyping and assumptions is to simply ask. Survey your current female clients or those within your network who may not be using your services just yet. Ask questions that give you a good feel for what your ideal client will respond to.

Once you’ve let the assumptions go, asked the questions, and actively listened to your ideal female clients, it’s time to translate that into effective marketing.

Build a financial services marketing plan that works for women.

A common mistake in marketing to women in the financial industry is to try to reach women through their significant other -- be weary of this tactic, as 70 percent of widows leave their financial advisor after their partner passes. Remember -- they are at least 50 percent of the relationship. Treat them as such, and make sure marketing is tailored to them as individuals.

Messaging drives marketing, so start there. Evaluate your messaging. Who is it speaking to? Once a solid message is delivered (one that caters to that niche within the female market that you’ve already identified), use that message to develop an ongoing content strategy that shines through all of your channels:

• Website. Aside from the obvious evaluation of the main marketing messages on your website, consider how else you can use your online home to help your new market. Add comprehensive resources to address the pain points you’ve identified during your research.
• Newsletter content. Designate a section or start a separate list to cater to the new market you’re courting. Evaluate all other content to make sure it doesn’t discount the role of women.
• Blog. Is your blog content set up to serve more than just your current client base? Consider branching out into some new long-tail keywords that speak to your new market.
• Live events. Branch out from the golf course. Collect key research about what your prospective female clients enjoy -- whether it’s wine, cycling, sports, good books, or skydiving -- and consider switching up your event venues.

The list doesn’t end there. Your revamped messaging needs to expand throughout all of your content and communications -- your emails; your physical collateral; your social media outlets. Consider all the ways you interact with your audience -- and make your message prominent.

Win over the women

According to WealthManagement.com, women currently control $8 trillion in assets in the US. By 2020? That number is expected to be at $22 trillion. It’s an opportunity you literally cannot afford to miss out on.

Will they be particular? Will they be demanding? Will they question you? Absolutely. But it’s a good thing -- and here’s why: women know what they want, they know what they need, and they’re counting on you to make it happen.