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Marketing. What Works For Financial Advisors? · The Perfect RIA

0:14
Jamie Shilanski: Y'all plan for this.
0:29
Have you ever heard anyone ask before which diet and exercise
0:32
program is the best and the answer be the one that you
0:35
actually do that's the best one for you, the one that you'll
0:38
commit to stick to and do on a regular basis. Well, that is
0:41
exactly how I feel about marketing, what marketing
0:44
strategy is the absolute best for your financial advisory
0:47
practice, the one you will do, the one you will do, the one you
0:52
will be committed to, whether come hell or high water, you are
0:55
going to be putting out content. You are going to be sticking
0:57
with the plan. You are going to continue marketing the plan,
1:00
because marketing is like an avalanche, and it takes an
1:03
incredible force to get the snow moving, to get the windfall
1:08
coming your way. And a lot of times, I'm sitting there with
1:11
financial advisors, and they're talking to me, and I'm like,
1:12
Hey, tell me about your career growth. Tell me about your goals
1:14
next year. Tell me about your objectives. And they're like,
1:17
oh, I want to onboard. You know, in the next five years, I want
1:19
to have 100 clients. I want to have $100 million under
1:22
management I want to be making a million dollars a year. And I'm
1:25
like, great. Well, how many clients do you have? I have, you
1:27
know, 40 or 50. Okay, let's just say you have 50 in the next five
1:30
years. You need to be bringing on 10 clients a year. Yeah,
1:32
Jamie, that's what I want to do. But I think I could bring on 10
1:35
to 20. Awesome. What'd you bring on last year? Two you brought on
1:39
two clients last year. That's it, and they were both
1:42
referrals. Okay, well, how now are you going to 5x that number?
1:46
How now are you going to bring it up to 10 clients a year
1:49
consecutively, every single year for the next five years, to get
1:53
to your benchmark? And by the way, not just any client.
1:55
Because you told me how much AUM you want to have. You have to
1:58
bring on qualified clients to get to that level. So what's the
2:03
plan? What are you willing to do? What are you willing to
2:06
commit to, marketing wise, to get you where you want to be? A
2:09
lot of times people set goals like they're making up wishes,
2:12
because a goal without a plan is called a wish. That is what it
2:17
is. I wish I had 100 clients. I wish I had 100 million under
2:21
management, and I wish I was making a million dollars a year,
2:25
but you're not doing anything actively to go pursue that. So
2:29
when it comes to marketing, let's dive into it. Today we're
2:31
going to talk about the different channels of marketing,
2:34
because marketing feels really ambiguous, right? Like I want to
2:37
go hiking. Okay? If I say I want to go hiking to some of my
2:39
friends, do you know what that means? That means we're gonna go
2:42
for about a mile. We're gonna have a nice little conversation.
2:44
They might bring an algae and full of red wine, and then
2:46
that's it. That's a hike. I say hiking to a different group of
2:49
my friends. I better have a three day pack on my back with
2:52
jet boils. And it doesn't matter what the weather is, because
2:55
there's no such thing as in a bad weather, only inappropriate
2:58
clothing, and we are off up a mountain that's hiking for them.
3:01
So you have to quantify. What do you mean by marketing? Now, when
3:06
I talk to you about marketing today, you're going to hear all
3:09
of these things and nod your head and say, Yes, I should be
3:11
doing that. I should be doing that. I should be doing that.
3:13
Well, of course, we all know what the secret is to looking
3:16
good, right? It's a reasonable diet and a lot of exercise. But
3:20
how many of them, including myself, actually go and do that?
3:23
You have to commit to one of these that you know you're going
3:28
to do the worst thing in the world is to embrace all these
3:31
different platforms I'm going to share with you today and say I'm
3:33
going to do all of them right now. Bolshevik, you are
3:36
completely lying to yourself. If you believe that rather, you
3:41
need to take the one you are willing to go and do and do it.
3:46
So let me give you an example. I generate a mass amount of
3:51
content. I do a lot of content, but until I was harassed by our
3:56
podcast curator Amber, I didn't do it online. I didn't do it
4:01
publicly. I'm not the person that needs to be in the
4:03
spotlight. I love to be the person handing the torch over to
4:06
another person, to be in the spotlight and creating all the
4:08
material. So I do a lot of articles, I do a lot of content.
4:11
I do a lot of writing in general, and now, under her
4:14
guide, the last two years, I've been doing a lot of podcasting.
4:17
However, I don't like to be on camera. In fact, she gets super
4:21
annoyed with me, because part of our marketing efforts here at
4:23
The perfect RIA are to come up with shorts and reels and things
4:27
that have us all on video. I don't like to be on video. I'm
4:31
pretty I just not photogenic, and I know that about myself,
4:34
and I'm just as surprised as everyone else about what's going
4:37
to come out of my mouth, and sometimes my face reacts too to
4:40
what I said. So I don't like to always be on video. If I have to
4:45
shoot a video, it will be the very last thing that I do. I
4:48
will procrastinate, like the best of them, and I will not
4:52
make time, energy or effort to go and do that now. Conversely,
4:56
my baby brother, Micah Shilanski, loves to be on video.
5:00
He loves to be on video. It's something for him to grab his
5:03
iPhone and start a camera, to go into a recording studio at our
5:07
office and flip the lights and camera on and do a video. He
5:10
loves it. That is his medium. That is what he enjoys doing.
5:13
But do you know what he will drag his be and almost never,
5:18
ever, ever do write content. He hates writing content. And so if
5:23
he knows he has to sit down at a keyboard and write content, it's
5:27
going to take him all bloody week to get out that article.
5:30
But if I have to do it, I'm going to do it instantaneously.
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I jump out of that full of vigor and I'm going to want to do that
5:35
article. I love writing. I love the medium of writing. And so
5:39
guess what? We don't do at the office. We don't put square pegs
5:43
in round holes. Micah wants to be on camera. Cool. Here's the
5:46
script. Micah, this is what we need to say. This is the
5:49
article, etc. Micah gets a video, and he says, Hey, I just
5:52
shot this video. I would love to have an article on it. Could you
5:54
help me generate that? We use our pros and cons. We use what
6:00
we are best at to deliver our message because then we give our
6:04
prospects, our clients, our students, the ones that we
6:06
teach. We give them our employees our absolute best when
6:10
we are at our best. So as I go through these list of channels
6:13
with you, and you start nodding your head and saying yes, yes,
6:16
yes, I'm going to do it all. Don't. Pick one. Pick one, one
6:22
of these that you're willing to commit to, and then go do it,
6:25
and then find a way to automate it and design all the processes
6:29
around it, so that way you can add a layer onto this. All
6:34
right, so in no order of necessary priority, here are the
6:38
different marketing. When I use the word marketing. These are
6:41
the things that I am saying, because marketing is so
6:44
ambiguous. Could be everything. I'll tell you what it's not.
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It's not cutting a $500 check for somebody's sporting event
6:49
because their kid plays soccer or karate or hockey or whatever.
6:54
That is not marketing. I don't care if the arena puts your
6:57
banner up for everyone to see. You could write it off as
7:00
marketing, but we all darn well know that's a donation, because
7:03
you feel obligated to get it all right. So what is marketing?
7:07
Very first thing, website and SEO. So regardless of what your
7:11
physical office space looks like, your website and SEO
7:15
should be on track. What is SEO? Search Engine Optimization?
7:19
There are two ways that technology, when people go to
7:22
Google or, gosh, you know what cracks me up when I use ChatGPT,
7:26
it says searching with Bing. And I'm like, wow, Bing, way to hold
7:29
on, way to way to keep yourself out there. You know, now that I
7:35
think of it from a business standpoint, it's probably the
7:37
only search engine that would go with chat, because Google was
7:40
trying to do their own Bard, and then I forget what they're
7:43
rebranding it now with Jay Z's new song. But anyhow, so when
7:47
you go to search engines and you type in whatever you're looking
7:51
for, the human is going to start deciding what articles apply and
7:54
don't apply, right? So I could put in, for example, for
7:58
supplement, and it's going to it's going to give me a list of
8:02
different websites, it's going to give me OPM, it's going to
8:05
give me articles, it's going to give me forums. And then I, as a
8:07
human, must screen and say, Oh, that one's the most appropriate
8:10
to me. But how does the computer know I'm looking for that?
8:13
Because I only gave it an acronym and a word. That's all I
8:17
gave it. Well, that becomes a search engine optimization and
8:21
that is how many times those pages that are provided in the
8:25
links below are using that particular set of vocabulary for
8:30
you to land on. So understanding website and SEO is very
8:35
powerful. Now I don't have to be some tech nerd, because I'm
8:38
certainly not. That's definitely my brother's wheelhouse, taxes
8:42
and tech right up his alley. But he gives me a list of those
8:46
keywords, and he's like, Hey, these are the keywords we want
8:49
to focus on. This is where our top demographic searches, and
8:52
this is what we want, content we want to create cool now I take
8:55
those and I create content around those words, using those
9:00
words specifically, and that's our website and SEO presence.
9:04
Now, a lot of times people say, Jamie, I'm independent. Just
9:07
went by myself. I need to redo my website. Websites are bloody
9:10
fortune to create. It used to be where it was 3500 then it was
9:14
six grand. Today, I'm getting quotes for like, $40,000
9:19
to create websites. And I don't know if that's because most
9:22
developers have realized that AI is going to take over their jobs
9:25
in the next five years, so they're cashing up as much as
9:28
possible. But it should have gotten easier to build a
9:31
website, not more expensive. But you know, it's not what you do.
9:36
You're not a tech nerd. You got to outsource that. Those are the
9:39
ranges. You're going to pay anywhere from five to 40,000
9:42
depending on your complexity of what you want. Whenever I work
9:45
with a developer the best, although I did this this time
9:48
around, I'm so annoyed with the developer. I gave them a site
9:50
exactly what I wanted it to look like of a competitor in a
9:53
different line of work. So it wasn't finance, and they created
9:57
a website based on whatever they wanted to create, and didn't
10:00
mimic it at all. So now going back to them and saying, No, I
10:04
showed you exactly what I wanted this website to look like. All
10:07
right, so that's that one, and then you go into the next one is
10:10
content marketing. So what is content marketing? Content
10:13
marketing goes right into the SEO and the website. But this
10:16
could also, when I talk about content marketing, you could be
10:18
submitting these to different journals, different
10:20
publications. So let's just say, for example, you work with
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veterinarians. That's your bailiwick. That's who you focus
10:26
on. Well, if I was focused on only exclusively working for
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veterinarians, then I would be looking at every single topic
10:34
the AVMA, the American Veterinary Medical Association,
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was going to do at a conference, and I would be taking those
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topics, and I would be writing articles and doing content
10:43
around those topics. Why? Why would I pick the conference?
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Because the conference is six months, eight months out, and
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that's what everyone is going to be focused on. Are those
10:54
particular topics. And think about it for us as financial
10:57
advisors. I mean, how many times have we gone to conferences
10:59
where everything you know. In the 90s, it was know your
11:02
client, know your client, know your client, the federal rules.
11:05
And so it was constantly being talked about. And then every
11:09
time we go to a conference, it's Roth conversions, and now it's
11:12
fiduciary and there's certain terminology that becomes super
11:16
trendy in every single aspect of business. And so if I was
11:21
exclusively working with veterinarians, I would go look
11:24
at the biggest conference that is showcased wherever I'm
11:27
located. I would find out who's speaking what they're speaking
11:30
on, and I would start extracting those common topics. You can
11:35
apply this to anything I'm using veterinarians, but everything,
11:39
even if you only exclusively worked with HVAC installers.
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This applies to you. So I would take that content and I would
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start writing articles, and then I would start submitting it to
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whoever advertises. Because here's the thing, is that I'm
11:56
not paying for those to get published. So if I was working
11:59
with veterinarians, I got my topic here, I'm going to start
12:01
submitting it to Vet Girl. I'm going to start submitting it to
12:04
DVM 360 I would start submitting it to Modern Veterinarian. I
12:08
would start presenting all of my content to all of these
12:11
different publication channels that, guess what? Are looking
12:15
for content like they want content on their website too.
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And then once I got published on their site, you know what I
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would do on my own website? On my own website, I would create
12:25
an as seen in. Remember when we go to places and we're trying to
12:29
buy something, and it's all as seen in Forbes, as seen in
12:32
times, as seen on MSNBC, whatever it is, as seen in. And
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why? Why do we have the as seen in? Because now it gives us a
12:40
level of credibility, because sometimes people haven't heard
12:43
of you. They don't know who you are, they don't know if you're
12:45
legitimate, and they don't know if you're a scam. But now I'm
12:49
going to these different trusted places, and I know that other
12:52
people are listening to you. Other people have heard you, and
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now that validates what I'm trying to do. All right, third,
12:58
social media. I am not a social media girl. I see the value of
13:02
it. I've definitely helped some businesses improve cash flow and
13:05
built an entire multimillion dollar company using nothing but
13:08
Facebook and Google ads. I know that there's value in
13:11
advertising these platforms, but you know what? There's nothing
13:13
in it for me with there's no joy. I have no joy in promoting
13:16
our business on social media. In fact, I don't like it at all. It
13:19
gives me a visceral reaction. So guess what I don't do? I don't
13:22
promote us on Instagram, Facebook, X Twitter, when it was
13:25
Twitter, all of it. I don't do that one for RIA because I don't
13:28
like it. I don't like it. It feels fake. It feels, you know,
13:31
just inauthentic to me, and so I don't do it. Now, that doesn't
13:35
mean it's authentic and fake for everyone. It just means Jamie
13:38
Shilanski does not find joy doing it. Therefore I don't do
13:40
it. Why? Because remember when I started talking to you about
13:42
this, what's the marketing plan that will work? The one you
13:44
choose to go and work. And so if I know I get a visceral reaction
13:47
from social media, then I'm not going to want to go and do it.
13:50
And so I don't do it. I eliminate it. But if you love
13:53
social media, if you are good on camera, if you want to flip that
13:55
on real quick and create it awesome. Do it. If you are a
13:58
social media marketer. Let me give you a one piece of tip that
14:00
I will tell you about. When that video starts, I want you to go
14:02
ahead and say to the camera. Hey, I got a lot to tell you,
14:04
and I know not all of you have time for the details. I'm gonna
14:05
go ahead and put those ingredients, those steps, that
14:07
information, that key piece to this video, down in the caption.
14:09
So click on the caption and it'll all be there for you. Now,
14:11
when I'm into the word caption three times, what does that do?
14:13
That piques my interest. Now I'm curious, so I click on the
14:16
caption and I'm reading your caption. As I'm reading your
14:18
caption, what's happening with your video? Your video is still
14:20
playing, and if it's still playing in the background, then
14:22
it looks like you're on that longer and we read slower than
14:25
we listen. So what does that algorithm tell us about that
14:27
video? That algorithm says, Oh my gosh, people love watching
14:31
this video. They watched it for a really long time. So it's not
14:34
just a number of times people watch a video, it's the length
14:36
of time they stay intrigued on your video, because our
14:39
attention span is getting shorter and shorter and shorter.
14:42
That's why clips, reels, shorts, are shorter and shorter for us,
14:45
because we can't handle the attention span. In fact, this
14:48
one, I was reading an article on producers that were talking
14:52
about, when they do a production in the editing room, what they
14:55
do now is the second screen test. And I had never heard that
14:59
terminology, second screen test, and so I asked the question. I
15:01
was like, what is the second screen test? And I was talking
15:04
to a video production guy, and he said, oh, a second screen
15:06
test is putting in less important moments in the film,
15:11
or B level film, because, you know, the viewer is going to be
15:16
checking their phone and not paying attention to the movie
15:21
They're actually planning strategically unimportant
15:25
information to be peppered into a movie. In a film, because we
15:28
lack the attention span to pay attention to every single part
15:32
of the plot, because we're distracted looking on our phone
15:35
or checking up something that is useless, checking up the cast.
15:38
Oh, who are they married to? How tall are they? Are their hair
15:41
naturally that color? What else movies have they been in? We're
15:44
doing all of those things and not paying attention to the
15:47
actual movie, and Lord knows, I'm guilty of it, but it blew my
15:51
mind that that was something all right. Fourth, email marketing,
15:55
your most powerful way of communicating with your target
15:58
audience is going to be email marketing. It is, in fact, the
16:01
more opportunity you have for people to hit your web page and
16:04
gather information, gather their email address and have them
16:06
reach back out to you. So a lot of times, and you might see in
16:09
some of our stuff at The Perfect RIA, we're going to ask you to
16:12
come back to us with information, and we come back to
16:15
you. What is it about? We want your email. Want your email so
16:18
we can tell you about all the amazing, cool, awesome things
16:20
that we are doing at The Perfect RIA, because we are in the
16:23
pursuit of making financial advisors better and better and
16:26
better, and in that pursuit, we need people who are equally
16:29
passionate about it as we are people who want to change the
16:32
industry. So it's not slimy finance. It's amazing, and that
16:36
it's an opportunity to make massive impact on multiple
16:39
generations. So when I do my email marketing, I don't like to
16:43
to clients, I don't like to send it out on a weekly basis, and I
16:46
don't even like to be on a monthly basis. So I will do
16:49
another episode after popular demand. In fact, Amber, our
16:52
podcast curator, was just telling me she's like, Hey,
16:55
people want a calendar like they want specific tell me what to go
16:58
do, and I will go do it. So creating a giant marketing plan
17:01
is a lot more intensive than than me just sitting here and
17:04
talking to you for half hour. So I'm going to break it down to
17:06
give you different segments, and then you're going to have to put
17:08
that master class together for you. So when I create with my
17:12
different medium, and then we'll do another episode on when's the
17:14
right time to send out content, I like to send out contents in
17:17
erratic schedule. So I know every quarter I'm going to send
17:20
something in addition to a value add to a client, but I'm not
17:22
going to do it on the first of the second month. I'm going to
17:25
do it like six months, eight weeks, you know, not six months,
17:28
six weeks, eight weeks, and I'll sort of pepper it around so it
17:31
feels more occasional than methodical. Now, in the
17:34
background, I know it's methodical. I know I'm going to
17:36
get this done on a certain schedule, but I'm going to be
17:39
real specific about making it seem infrequent so clients know
17:43
that they feel that it comes from a place of genuine
17:45
communicate something and not something planned. Like, oh, the
17:47
first month I always get this, that's my take on it. That's I
17:51
like to have information so I like to deliver it that way. All
17:53
right, webinars and online workshops. Do they work? 100%
17:57
again. What marketing plan works? The one you're willing to
18:00
part the effort in we still do. We took a hiatus during covid,
18:03
mostly because we had to. But we still do in person presentations
18:07
and we do online things. We absolutely love doing it. We
18:10
love getting a group together. I'll normally cap it about 50
18:13
people with the expectation of having 40 people show up to the
18:16
event, and we get a ton of content. You want to talk about,
18:19
like a gold line of content. Throw an all day class and
18:23
listen to the questions start rolling in. Whenever we teach an
18:25
in person class, I always make a team member go with us to it,
18:28
and we write down verbatim what every single person in the
18:32
audience asks us, and then we get done, and that becomes our
18:36
content for our next marketing calendar, verbatim as they asked
18:40
it so that we can answer it. And so even if they're talking
18:43
about, you know, if they say, oh, yeah, I have a tax deferred
18:45
account. It's called Roth, and I know that's incorrect, I'm not
18:49
going to correct them on the spot. I'm going to find a nice
18:51
way to do that. Why we don't talk down to our audience? We
18:53
don't talk down to our clients. This is what we do every day.
18:56
This is not what they do. In fact, one of my business
18:58
partners, I made them attend the Financial Committee, meeting
19:01
with me, with the CPAs, his attorneys, blah blah, just to
19:04
make sure I had a third party and his attention for it. And we
19:06
got done, he's like, I don't even know what we're talking
19:08
about. What is EBITDA? What are we talking about? What is a
19:10
ETPS? And so we started doing these, and I said, Hey, why
19:13
don't I put on a gown, scrub in and I'll go to the operating
19:16
room with you. And you could feel completely intellectually
19:19
superior to where I am. And you know, he got a good laugh, but
19:22
he doesn't do this all day. I don't do surgery all day. That's
19:25
how this works. So we don't want to talk down. We want to grab
19:28
their questions, answer them, pivot them in a way that makes
19:31
them feel really empowered and do that. All right, next medium
19:34
that I would tell you about is podcasting, videos. Podcast and
19:37
videos. I forget the joke, but Matthew Jarvis was telling me
19:40
one time it was something about his cab drivers, like, oh yeah,
19:43
listen to my podcast that everybody has a podcast today.
19:46
So if you're curious about starting up a podcast, do so. A
19:49
good podcast would cost you about $3,500 a month to run.
19:52
There are different platforms. Just make sure that you know who
19:54
you want to reach if you are financial advisor starting a
19:57
podcast that is not going to be client facing, you want to make
20:00
sure that everything that you publish, clients can listen to
20:05
and regulators can listen to, because they will all right,
20:08
paid advertising. Paid advertising, to me, normally
20:11
means Google ads and social media. Again, they do work. I
20:15
don't do a lot of social media paid ads because I don't track
20:19
the conversion to be high enough worth $1 it's not high enough
20:22
worth the effort for me on social media, paid advertising.
20:25
But again, because I don't, I don't like social media, so I
20:27
don't do a social media presence, and therefore that
20:30
doesn't work for me. But if you do social media, and you have a
20:33
presence and you're regularly posting, for sure, do the paid
20:37
advertising. Now, Facebook got in trouble about four or five
20:40
years ago. They had to change a lot of things. So you can't
20:42
target in on the demographics as much as you want to now, but you
20:45
can still do a really good job, and it gives you the cheapest
20:48
trumpet around, because you can reach the widest amount of
20:50
audiences with the fewest dollars by doing social media
20:53
advertising. Google advertisement. I think we all
20:57
pray at the altar of Google, and that's sort of our tie to get
21:00
in. So we need to make sure that we're Google advertising as
21:04
well. If you don't even know how to start a website or web
21:08
development or SEO or Google ads or social media ads, you can
21:12
hire an agency. An agency is going to cost you around 15 to
21:15
$25,000 a year to do that. If you're like Jamie, that is
21:18
astronomical. I do not want to do that, because those people
21:22
will execute, but they won't create content for you. You
21:24
still have to go create the content, and then you hand it
21:27
over and give it to them to run. Then you can jump on sites like
21:30
Upwork or Fiverr. Fiverr, I think they should just call it
21:33
amateur.com but Upwork is pretty legitimate, and they'll have
21:37
people in different professions. And you can choose if you want
21:39
somebody US based or international, and you can
21:42
choose somebody to do segments of your marketing for you. So I
21:46
could hire somebody who says, Hey, do Google ads. We come in
21:49
here. We'll do screen share. You know, pay 300 bucks, get these
21:51
ads set up, and they'll just run their lifetime. I'm never going
21:54
to change them out. And so that works as well. All right, the
21:57
number one way that most financial advisors get clients,
22:00
come on, tell me. Tell me what it is, referrals. Referrals are
22:05
the number one way that we get clients, but a lot of times we
22:10
forget to ask for referrals, or we do it so weird we're asking
22:14
them to write down five of their closest friends that we could
22:17
contact. Don't do it like that. Instead, show up and deliver so
22:22
much passion, so much energy, so much enthusiasm for what you're
22:26
doing that people want to leave your office and go and talk to
22:30
other people about you. That's how, if you have not read Raving
22:35
Fan, read that, implement that, let that become your liturgy of
22:41
what you preach in your office. It is amazing when you create a
22:45
raving fan, the referral sources that you end up coming up with,
22:49
uh, networking. Now, networking isn't something that Micah, my
22:53
baby brother, and I do really well. Now, this is definitely
22:56
Matthew Jarvis's bailiwick. He is amazing at working centers of
23:00
influence. I accidentally do it because I end up getting
23:04
involved in CPAs and attorneys a lot of times, and so I network
23:08
with them because I'm working on them with a case or something of
23:11
that nature. But I'm not pumping them for referrals. It just it
23:15
has never once come natural, and I don't. I've gotten a few like,
23:19
I'm trying to think, in my mind, I've gotten a handful of
23:22
referrals from COIs before, but nothing that came out that was
23:25
like, Holy Holy smokes. That's a holy grail. I want that. But I
23:29
will tell you it does work if you know how to work it. Now, if
23:33
you're like me, and you're awkward with the asking a center
23:36
of influence for referrals, then don't do it. Then don't do it.
23:39
If you're awkward with it. Do not do it if you think you might
23:42
be okay with it, but want to get better. Make sure you email us
23:46
at lifestyle@theperfectria.com, and talk to us about our
23:49
different membership levels. I think Matt even has quite a
23:52
bunch of material on how to work centers of influence and do it
23:56
in a non awkward way that generates a lot of prospects. I
23:59
know he's very successful in that way, all right, industry
24:02
events and conferences. I don't think so. I don't think so, not
24:05
for US financial advisors, unless you do it in the way that
24:07
I just told you with if you specialize in the veterinarian,
24:10
apply dentists, apply attorneys, apply anyone that you work with
24:14
in any industry. And it does not need to be white collar. It
24:17
could be blue collar jobs as well. There's that misconception
24:21
that blue collar people aren't online like white collar people
24:24
are, because they work with their hands, but anymore, all of
24:27
them have to plug in. In fact, I was just talking to my mechanic
24:30
the other day, and he had to buy a Windows based computer because
24:33
he can't read any of the code errors in the engines without
24:37
firing up this system first. So gone are the days where it was
24:40
just troubleshooting and knuckle wrenching, all right, local
24:43
marketing, you know, I got kind of mixed emotions on this one,
24:47
we don't do local marketing for us at Shilanski and Associates,
24:50
because we say you don't hear about us until you hear about
24:53
us, and once you hear about us, you don't stop hearing about us.
24:56
So we kind of do this stealthy approach to the marketing that
24:59
we want to be, you know, sort of these strategic professionals
25:03
that everyone wants to work with, but we don't need to do
25:06
the blaring advertisements for but that depends on your
25:09
demographic and who you're working with. So once you
25:13
understand your demographic, you'll know if local marketing
25:16
works for you. A lot of times I see local marketing in a coffee
25:19
shop or a sports team again, like I said, advertising for
25:22
sports teams, not marketing. That's just having to pay good
25:26
donation. We also do get a lot of direct mail. We used to do
25:30
this a ton in the 80s and 90s. We sent out a ton of direct
25:33
mail, 20, 30, 40,000, flyers at a time, and got a ton of
25:37
attendance of people coming into seminars. So I think direct mail
25:41
works. In fact, I'm just kind of breathing life back into it here
25:45
at Shilanski and Associates for our in person classes. And why?
25:49
Because everything pivoted over to email marketing, especially
25:52
in covid. Nobody was sending anything out tangible, nobody
25:55
was sending out letters, nobody was sending out postcards. And
25:58
so while everyone pushed themselves to email. I stepped
26:01
back and said, Cool, let's start sending out postcards. There's
26:04
good postcard companies now, business to business, direct
26:07
mail. MailChimp even does it if you're looking for an email
26:11
marketing platform. I like MailChimp, Constant Contacts,
26:14
another one of those. But any one of those will get it up. And
26:17
if you don't know how to set up your different journeys and
26:20
paths and things like that, because that's part of our email
26:22
marketing, is that if we meet with a prospect and they don't
26:25
become a client, but we wanted them to become a client, they go
26:29
into our pitch and miss campaign, pitch and miss is a
26:31
terminology Bill good uses that we got. We pitch them, we miss.
26:35
We want to stay top of mind for them. That does work. We find
26:39
that people that were ready to hire us. In fact, one of our
26:41
financial advisors just got a great client. A great client was
26:45
a surgeon, hired us, or came in for a meeting five years ago,
26:48
said, Listen, I'm doing this residency. I've got this this
26:51
and this going on as I get this new specialty added in my name.
26:54
I'm just not ready to work with anyone. But if you guys are
26:56
around in five years, absolutely, then you're 40, will
26:58
continue to be here. And he said, then I would love to come
27:01
back in. Came back in eight weeks ago, hired the protege
27:05
financial advisor on the spot said, came in five years ago,
27:07
met with Jamie, had an amazing conversation. Let's get started.
27:10
And instant hire, instant hire. But he remained on our pitch in
27:14
this we remain top of mind because we were constantly
27:17
feeding him information. So when it was time for him to hire
27:21
someone. We were right there, and my father used to always
27:24
tell us that somebody's going to need us. They just don't know
27:28
when they're going to need us, and we don't know when they're
27:30
going to need us, but something in your life is going to change,
27:33
and you're going to need a financial advisor, and when that
27:37
happens, you want to make sure you're top of mind for that
27:41
person, that's huge. So I really, really like making sure
27:46
that we remain top of mind. I think Bill Good's team had it
27:49
right on pitch and miss staying there, because a lot of times
27:51
we'll get up and if we don't get hired, we're like, well, we
27:54
didn't want to work with them anyway. Yes, you did. Yes you
27:57
did. You did want to work with them. They just weren't ready to
28:00
work with you. You got to stay top of mind for these
28:02
individuals, all right. TPR nation, this has been packed
28:06
with action items. If you haven't extrapolated something
28:09
to go apply to your marketing this year, then you need to go
28:13
listen to this again and again and again. But number one action
28:18
item, what works? Whatever you are willing to work, whatever
28:23
you are willing to work, all right. Second thing, choose the
28:26
medium. I gave you a whole bunch of different ones that are
28:29
working right now for financial advisors just like you, but
28:33
choose the one you're willing to commit to do. Not choose the one
28:37
that you think you should do, but gives you a visceral
28:40
reaction to that is the one that you will neglect the most.
28:45
Third, metrics, metrics, metrics, metrics, you need to be
28:49
tracking this and figuring out what is working and what is not,
28:53
so that you're not throwing good money after bad and so you
28:56
really need to make sure that you can't just say, Oh, I sent
28:59
out a bunch of postcards and I didn't get any client calls. I
29:02
didn't get any I wanted to sign up for my event. That was a
29:05
total failure that no, that was a one time effort, and it was
29:08
brand new information for the people that you were sending it
29:10
out to. You didn't have a habitual relationship in which
29:13
you were getting this type of information to them on a
29:16
regular, consistent basis. It was new. If I get an
29:19
advertisement for something, I don't run out and buy it just
29:21
because Tommy Bahama sent me a postcard. No, I wait for it to
29:25
become relevant to my life and then I go purchase it. But
29:29
because Tommy Bahama sends me their information on a continual
29:32
basis, when I need resort wear, that's who I go to think about.
29:36
So make sure that you're not just one and done. Oh, that was
29:39
a flop. That didn't work. You need to try it consistently.
29:42
Track your progress, and you're gonna see the first couple of
29:46
times you might swing and miss. But then all sudden, things are
29:49
gonna start picking up. TPR nation. This is Jamie Shilanski,
29:53
an episode of Worlds to Conquer. Go find people who share your
29:55
values. Change the World.
29:58
Unknown: on, before we before we go something that's a tax legal
30:09
or invested advice that is An RNC information designed to
30:13
change lives, Financial Planning. Wife,