Latest / Financial Survival Network / Simple Marketing Tips for Big Results - Josh Woodward #6161

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Simple Marketing Tips for Big Results - Josh Woodward #6161 · Financial Survival Network

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  Speaker 1: You are listening to Carrie Letz's Financial Survival Network, where
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  Speaker 2: Ed.
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  Speaker 3: Welcome you are listening to and watching the Financial Survival Network.
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  Speaker 3: I'm your host, Carrie LUTs Hey. With us is Josh Woodward. Josh,
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  Speaker 3: you are dedicated to helping people of financial advisors become.
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  Speaker 2: Number one in their area, and we're curious about it.
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  Speaker 3: We have lots of financial advisors on the show, sometimes
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  Speaker 3: two or three per week and been working with these
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  Speaker 3: people for many, many years.
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  Speaker 2: So what is the.
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  Speaker 3: Key to being a successful a successful financial advisor?
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  Speaker 2: Yeah, awesome, great, thanks writing me on the show. I'm
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  Speaker 2: really looking forward to it. By watching your podcasts or
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  Speaker 2: in your shows for a while now. Very educational and
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  Speaker 2: I think really the biggest thing for advisors kind of
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  Speaker 2: like what you do is just education, right, educating your
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  Speaker 2: clients educational prospects. But then I think the biggest backbone
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  Speaker 2: to anything is marketing and making sure you're getting that
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  Speaker 2: message out to the people so they can actually see
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  Speaker 2: what you're saying. Got it.
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  Speaker 3: So marketing, everything comes down to marketing in the end, right,
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  Speaker 3: But you know, this kind of marketing can't be like
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  Speaker 3: hitting you over the head marketing. It's got to be
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  Speaker 3: a little more sublime, a little more subtle.
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  Speaker 2: Than that, doesn't it? It does? Yeah, I think so.
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  Speaker 2: I thought I grew up in when I came into
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  Speaker 2: the industry. A lot of it was back in the day.
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  Speaker 2: It was marketing was like mailers to dinner summars, and
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  Speaker 2: they try to educate and push a product, right, that
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  Speaker 2: was on the marketing That kind of happened adventure into
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  Speaker 2: like radio and then and then obviously digital came and
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  Speaker 2: that's kind of where I got my teeth into the system.
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  Speaker 2: It's just different, right, you have to you have to
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  Speaker 2: approach digital marketing as education first. And so there's a
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  Speaker 2: lot of people out there but that will talk about that.
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  Speaker 2: But it's like like Gary b will say, like jab
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  Speaker 2: jab and then throw the right hook. Right, So like educate,
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  Speaker 2: educate and bound make it all, which is a lot
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  Speaker 2: different than a lot of I can be used to.
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  Speaker 2: I get it. I get it.
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  Speaker 3: So you know, tell us about some of your success
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  Speaker 3: stories people you worked with, you know to name names,
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  Speaker 3: but just give us an example of how effective your
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  Speaker 3: approach can be.
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  Speaker 2: Yeah, So, like our our approach really comes down to
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  Speaker 2: the way we do it is when we run marketing
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  Speaker 2: for advisors, we really try to offer some sort of guide,
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  Speaker 2: the equal tax guide, a state training guide, urmas and
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  Speaker 2: all every big talk that's coming out, and we people
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  Speaker 2: into that as like a lead list, right, and then
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  Speaker 2: we'll educate towards a webinar, and then that webinar will
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  Speaker 2: set the appointment. The whole process is to make sure
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  Speaker 2: someone that wants to meet with you is engaged to
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  Speaker 2: high intent but also kind of high a network. And
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  Speaker 2: so a lot of advisors you work with, you know,
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  Speaker 2: a couple in particular role have closed. One advisor out
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  Speaker 2: in Minneapolis closed thirty four million dollars in new assets
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  Speaker 2: this year so far right off of our marketing. And
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  Speaker 2: that's really just in two forms. So the online educational right,
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  Speaker 2: the cool thing are a cool thing. You know, COVID
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  Speaker 2: was a bad thing, but what it did is really
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  Speaker 2: catapulted our marketing and digital like putting us into the
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  Speaker 2: digital space that kind of force our people can come
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  Speaker 2: to the office and things like that. So everyone was
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  Speaker 2: forced to getting used to these zoom and you know
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  Speaker 2: conversations like we're having now, and so it makes a
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  Speaker 2: lot easier for people to reach and scale. There's a
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  Speaker 2: lot of good advisors out there that have a lot
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  Speaker 2: of knowledge and if they can just get at scale,
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  Speaker 2: you know, they can really help out a lot of
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  Speaker 2: these people that are very good starting especially in like
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  Speaker 2: today's market and what's got to Okay?
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  Speaker 3: So the interesting So what do you think is the
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  Speaker 3: number one mistake that most financial advisors make when they
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  Speaker 3: put together a marketing campaign.
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  Speaker 2: Yeah, I think the biggest mistake, and I think the
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  Speaker 2: key to all marketing is coming down to the offer, right,
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  Speaker 2: like what what are you? What are you able to
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  Speaker 2: provide to the client? And a lot of advisors, you're
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  Speaker 2: like a lot of websites will say like a free consultation,
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  Speaker 2: right or three one on one leading. But I can
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  Speaker 2: come up with a good offer that helps motivate that
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  Speaker 2: prospect and to wanting to meet with you, you know,
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  Speaker 2: something like I had a mentor back in the day
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  Speaker 2: that got me into the program, Jason Lank, someone that
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  Speaker 2: I highly looked up to and he had a process
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  Speaker 2: called results in Advanced Planning. It's just it was a
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  Speaker 2: planning map that a lot of advisors did it right,
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  Speaker 2: you know, you know, three step deployment process, but he
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  Speaker 2: called it results on his plan. It just made you think, like,
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  Speaker 2: what is this? How can they get our hands on
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  Speaker 2: that kind of thing? So I think the big a
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  Speaker 2: hurdle advice offers coming up, what's unique offers?
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  Speaker 3: And then nique offers like give us an example, what's
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  Speaker 3: a unique offer?
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  Speaker 2: Yeah? So yeah, back to like you know, one of
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  Speaker 2: them was the results advanced planning, which is like a
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  Speaker 2: process of offering someone to plan financial plan. They'd run
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  Speaker 2: through the statements and they would show them the mind
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  Speaker 2: carlssimilation right, basically like hey, if you're to just continue
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  Speaker 2: doing what you do now, that is where you're if
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  Speaker 2: you want to work with do it by yourself. This
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  Speaker 2: is kind of your your success right. And then you know,
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  Speaker 2: then Max want to be like, hey, I was ready
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  Speaker 2: to help you. You know, this is what it would
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  Speaker 2: look like. But and a lot of advisors do that
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  Speaker 2: planning process, right, that's not being unique. But what you
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  Speaker 2: called it was results in advanced point and I think
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  Speaker 2: that's a unique offer, and so I think the other
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  Speaker 2: other big mistake a lot of people make is they
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  Speaker 2: try to push an offer in fact, so then you
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  Speaker 2: have the offer and then it's then you're just like
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  Speaker 2: trying to jam withouncings. Throw But the whole goal of
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  Speaker 2: digital marketing is from someone to like you, know you
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  Speaker 2: and untrust you, right at the end of the day,
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  Speaker 2: That's what an advisor should try to do and get that.
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  Speaker 3: Okay and all right, So the marketing has changed, it's
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  Speaker 3: not what it used to be. The whole digital slant
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  Speaker 3: to all of that really important to stay up on it.
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  Speaker 2: What do you think?
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  Speaker 3: What do you think the biggest mistake though that these
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  Speaker 3: guys are doing with their marketing as far as I
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  Speaker 3: know about the offer, but you know a lot of
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  Speaker 3: them are very successful and yet they still don't want
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  Speaker 3: to do what's necessary here.
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  Speaker 2: Yeah, I think so the all marketing works, right, and
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  Speaker 2: what question comes down is, you know how effective is
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  Speaker 2: that marketing? Right? I can spend with millions of dollars
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  Speaker 2: on TV ads, right, and eventually it's going to work. Eventual,
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  Speaker 2: it's gonna get you an appoinment. Eventually, it's gonna get
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  Speaker 2: you a client. But if I was spending million dollars
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  Speaker 2: on radio, you know, or television or you know, digital
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  Speaker 2: marketing like I had, like I recommend it. You know,
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  Speaker 2: it's it's really coming down to at the end cost,
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  Speaker 2: what is you know the success and you know, at
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  Speaker 2: my if I put one dollar on ana in three
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  Speaker 2: out or I'm paying three dollars and this three hours
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  Speaker 2: coming out until that's where I think that comes in front. Right.
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  Speaker 3: Okay, So if someone's looking to get into this business,
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  Speaker 3: what would you recommend.
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  Speaker 2: To them for financial advisors to get into the business.
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  Speaker 3: Yeah, so yeah, at a college or they were with
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  Speaker 3: a brokerage house and now they feel this is the natural.
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  Speaker 2: Evolution of your career. What would you tell them to do? Yeah,
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  Speaker 2: I think getting into the industry was very is a
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  Speaker 2: very tough thing to do because it used to be
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  Speaker 2: very expensive. You to have spent ten twenty thousand dollars
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  Speaker 2: for and advantage, get some clients in the door or
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  Speaker 2: you know a lot of brokerages will make you smile
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  Speaker 2: and dollar family members and the other family members call friends,
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  Speaker 2: and that's kind of how you naturally get into it, right,
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  Speaker 2: It's just smile and dialing family or we spend ten
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  Speaker 2: grand and do a seminar, right, and a lot of
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  Speaker 2: people can do to other So really how I got
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  Speaker 2: into it is very I just found someone in the program,
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  Speaker 2: a mentor that had an R already, you know, and
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  Speaker 2: I kind of jumped down there. I became a coffee boy,
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  Speaker 2: you know, Glorify coffee boy, worked my way up to
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  Speaker 2: knowing planning and then trading and that client management and
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  Speaker 2: then they're actually marketing and doing all the seminars. So
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  Speaker 2: my biggest recommendation is just find something that you could
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  Speaker 2: you want to mirror, right, and see if you can
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  Speaker 2: get your hands into that door. Okay, I'll buy that already. Uh.
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  Speaker 2: We want to get in touch with you, connect with
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  Speaker 2: you on the web more. How do you do that? Yeah?
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  Speaker 2: I think the best way is, you know, mastermine Advisor.
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  Speaker 2: Mastermindadvisors dot com is like our website, but I'm active
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  Speaker 2: on LinkedIn. I love to to communicate that way, so
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  Speaker 2: you can just you know, LinkedIn me is just Josh
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  Speaker 2: underscore would word and you can connect with you there
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  Speaker 2: all right.
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  Speaker 3: Appreciate that we got a link to that in the
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  Speaker 3: show notes on Financial Survival Network dot com. While you're there,
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  Speaker 3: at least sign up for a free news letter and
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  Speaker 3: you got any question comments for Josh myself, shoot me
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  Speaker 3: an email Katel at carrie lets dot com Josh and pleasure.
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  Speaker 2: We'll talk to you and send awesome. Thanks.
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  Speaker 3: Got a question for you what you're what you're feeling
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  Speaker 3: about the newsletter?
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  Speaker 2: Email? Newsletter ads for marketing? Yeah, to answer that question,
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  Speaker 2: like your is your target like in the older done
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  Speaker 2: the rappel what's interest thinking? Then? What you like your
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  Speaker 2: target target?
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  Speaker 3: I mean for financial want or you know expanding financial advisors.
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  Speaker 2: Yeah, I think you love it. Newsletters are great. There's
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  Speaker 2: a way to do it successfully as long as you
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  Speaker 2: have to call the action and stuff on the bot
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  Speaker 2: on PSS and the rite it well. They working very well.
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  Speaker 2: One thing I would see if you can do and
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  Speaker 2: start doing is tax messaging. It's huge. So like every
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  Speaker 2: time you watch a podcast or like something new that's
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  Speaker 2: coming out, like you just should a text and say,
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  Speaker 2: hey check the out or here's a quick winters or
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  Speaker 2: hey I came across this. Like the open rate especially
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  Speaker 2: for all like younger advisors for texting is where emails
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  Speaker 2: used to be, you know, ten years ago, where it's
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  Speaker 2: like a ninety percent open rate and clip deary. Yeah,
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  Speaker 2: newsletters are huge, and I think even depending on how
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  Speaker 2: big your audiences, there's even a BRIBERI that you can
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  Speaker 2: make from the newsletters.
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  Speaker 3: Okay, cool, all right, interesting because yeah, if you just
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  Speaker 3: I'm working now, I'm just expanding my own newsletter. It's
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  Speaker 3: at thirty thousand when I started. Now I'm up to
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  Speaker 3: about fifty thousand names. And you know, for me personally,
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  Speaker 3: it's it's really effective getting the message out, getting people
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  Speaker 3: to the site, getting them to listen to the podcast
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  Speaker 3: and watch the YouTube.
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  Speaker 2: So yeah, I think a Well, I watched a lot
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  Speaker 2: of your videos and like I was kind of curious
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  Speaker 2: on how I would fit into like your business because
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  Speaker 2: you're very and you interview some very knowledgeable people like
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  Speaker 2: in the market. Hey, look, so I was curious. I'm
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  Speaker 2: not to git into that, but I think the way
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  Speaker 2: you're doing an education base, you're going to be grown
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  Speaker 2: be successful with that. Are you just looking to get
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  Speaker 2: revenue off like YouTube and podcasting or is there like
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  Speaker 2: another advisor.
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  Speaker 3: You know, I have like a ton of financial advisors
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  Speaker 3: come on the show. I don't charge them anything, but
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  Speaker 3: I feel like I want to monetize that relationship because,
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  Speaker 3: like I have the PR people, they'll just feed me
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  Speaker 3: an unlimited number of them if I let them, which
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  Speaker 3: I don't. I have some regulars who I've kind of
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  Speaker 3: the built relationships with, so I know they're getting something
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  Speaker 3: out of it. Obviously, they keep coming back on the
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  Speaker 3: show even if they got a couple of leads. Right,
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  Speaker 3: it was free to come on other than their PR person.
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  Speaker 3: And you know each client is three thousand and five
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  Speaker 3: thousand annually, so I'm just figuring out how they how
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  Speaker 3: to monetize that. Would a service where we help double
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  Speaker 3: triple their mailing list? What is that worth to a
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  Speaker 3: financial advisor? And I figured as long as I had
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  Speaker 3: you on, Josh, I would. Yeah.
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  Speaker 2: So I think what you're so like, if you're trying
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  Speaker 2: to attract advisors, I think, like, like the whole Dave
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  Speaker 2: Ramsey thing, Right, it kind of comes to mind that
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  Speaker 2: man can sell the crazy mart of leads off of
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  Speaker 2: just pre education, right, kind of what you're doing. I
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  Speaker 2: think there's a little bit more higher end, you know,
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  Speaker 2: just the screaming don't do debt and stuff like that.
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  Speaker 2: But what I would do is have two sets the
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  Speaker 2: news letters that are designed one for advisors. Right, you
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  Speaker 2: call that out and then one for clients and so
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  Speaker 2: like or like prospects, right, but you're going to build
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  Speaker 2: that list a huge like you know with my marketing
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  Speaker 2: easily I have kindly close to six hundred thousand you
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  Speaker 2: know prospects just off of all the work. Then down
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  Speaker 2: the years you can then then offer like leads, right,
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  Speaker 2: but in a sense of like there's a debt ratio
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  Speaker 2: cultorator you can utilize and then you you mail that
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  Speaker 2: out to your prospect list and then any leads that
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  Speaker 2: come from that then go to your select advisors. You
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  Speaker 2: just charge a couple hundred buffs per that and then
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  Speaker 2: you'll like a smart asset you know after down. That's
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  Speaker 2: kind of the idea, and you could be very successful.
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  Speaker 2: That would just a very low but it's all all
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  Speaker 2: the backgrounds what you want to build. Yeah, yeah, I
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  Speaker 2: love the show stuff brains.
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  Speaker 3: All right, thatn's good to you take. So like, hey,
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  Speaker 3: you're coming on my show, bend one hundred and fifty
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  Speaker 3: bucks or two hundred and fifty bucks on an add
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  Speaker 3: on my newsletter.
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  Speaker 2: You could do that for like an advisor. So like
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  Speaker 2: if you're trying to behind your show, so like what
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  Speaker 2: like what that will do when you get to like
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  Speaker 2: your subscriber business part there there's three ways you can
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  Speaker 2: make really good income. One you can charge the advisor
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  Speaker 2: directly right and say, hey, come on my show, and
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  Speaker 2: it's cost us much. I'll put you write as many
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  Speaker 2: people blah blah blah blah. The only way you can
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  Speaker 2: do it done is ad science right YouTube add and
• 13:51
  Speaker 2: now could you put pure out what I think? What
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  Speaker 2: almost thirty thousand subscribers.
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  Speaker 3: I just passed twenty, but I've been adding like several
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  Speaker 3: thousand a month now for the past few months.
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  Speaker 2: That's awesome. Twenty one thousand. And is that majority advisors
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  Speaker 2: or is that? Have you looked into everybody and that's everybody?
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  Speaker 2: Because then so one you can charged adviser you come on.
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  Speaker 2: The problem is like like any ones that come from
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  Speaker 2: that would have to go directly to them, which is
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  Speaker 2: totally fun. Like what Dave Ramsey does is like, hey,
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  Speaker 2: what this will do is get you branding. Let's gets
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  Speaker 2: you awareness to all these people by any leads that
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  Speaker 2: come in are my leads. And so then what you
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  Speaker 2: do with those leads is then you can sell them
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  Speaker 2: to advisors. Are offering to advisors. You select advisors and
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  Speaker 2: charge one hundred and fifty bucks two hundred bucks, and
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  Speaker 2: you're giving them to two or three advisors that you
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  Speaker 2: think you're quality, right, and then those advisors, so you're
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  Speaker 2: making eight hundred dollars per lead instead of making one
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  Speaker 2: hundred fifty dollars per one. Yeah, okay, so you can
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  Speaker 2: and you can do all three right, but you can
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  Speaker 2: sell one hundred fret bucks. It gets you out there,
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  Speaker 2: get your name. It's branding. If you want any appointments
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  Speaker 2: and leads that come from it, you know, it's two
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  Speaker 2: if hundred bucks. And then as science and if you
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  Speaker 2: keep growing, you'll be yeah, you'll have some good some
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  Speaker 2: good look at a listens from it.
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  Speaker 3: All right, sounds good? All right man, I appreciate the advice.
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  Speaker 3: We'll definitely have you back on again and let's stay
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  Speaker 3: in touch.
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  Speaker 2: Okay, absolutely appreciate.
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  Speaker 1: Thank you very much, thanks for listening to carry Lets's
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