Image by Paul Brennan from Pixabay
Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
Click here to watch a video and learn more about Evidence Based Advisor Marketing.
Recently, while on a trip to the west coast, disaster struck. I felt an acute toothache that I immediately knew needed a root canal. That experience taught me something about gathering AUM.
My research
Alone and unfamiliar with the local dental community, I needed a reliable way to identify an endodontist. I called a major dental school in the area, and left a message with a professor of endodontics. I told him my plight and asked if he could refer me to a local endodontist.
He promptly returned my call and gave me three names of endodontists. He told me if he or his family members needed a root canal, he would use any of those recommendations.
I picked one after looking at his webpage. He was board certified and seemed to be highly qualified. I made an appointment for the next morning.
My experience
At my appointment, the endodontist took x-rays and confirmed the need for a root canal. I told him I had two requests:
- Numb me really well so I feel no pain; and
- Don’t explain to me what he’s doing during the procedure.
Forty-five minutes later, I left his office. The procedure was pain-free. He honored my request not to educate me about the details of his craft.
Lessons learned
I trusted a total stranger to put a sharp drill in my mouth and fix my problem. My trust was well- premised. He came highly recommended by a source with expertise. His credentials checked out.
Because I trusted him, I didn’t need to learn endodontics 101. I had a problem and wanted him to fix it, which is exactly what he did.
Why do so many advisors believe prospects and clients want to be “educated” about investing and financial planning? When they come to you, they have a concern. They want you to fix it.
There’s one surefire way to know if they want details (like how factor-based investing works): Ask them.
Marketing Services For Evidence-Based Advisors...and a New Book!
We offer consulting services on how to convert more prospects into clients through Solin Consulting, a division of Solin Strategic, LLC. Our evidence-based persuasion strategies have significantly increased conversion rates for our coaching clients. I'm available to speak at events. I also provide individualized coaching using videoconferencing.
We offer a full range of digital marketing services exclusively to evidence-based advisors through Evidence Based Advisor Marketing, LLC . These services include: web and content creation and the creation of innovative videos. You can see websites we have designed, content we have drafted and videos we have produced here.
Click here to request a free, no obligation website evaluation.
I'm working on a new self-help book for the general public. It's called:
Ask
Be Liked. Be Loved. Be Better
Ask will be published in early 2020. We'll be rolling out programs for advisors who want to offer this game-changing book to their clients as a way to demonstrate value. For more information, click here. You can sign up for updates at the link (scroll down).
For more information, please contact:
Dan Solin
[email protected]
(239) 949-1606
Schedule a call with Dan here
Like my experience with an unfamiliar endodontist, they’ve gone to your website. Since they decided to meet with you, it’s likely they already know your credentials and investment philosophy.
Instead of assuming they’re interested in knowing more about you, learn more about them. Ask nice, soft questions showing an interest in them, instead of trying to convey any information.
Your new goal is to elicit information and then ask follow-up questions that demonstrate a genuine interest in them. If they have a question or need clarification, trust them to make an inquiry. When they do, you can be confident you’re providing information of interest to them.
A by-product of this approach is that it builds trust. Once they trust you, they will be confident you will always act in their best interest.
That’s how I felt about my endodontist.
Dan Solin is a New York Times best-selling author of the Smartest series of books. His latest book is The Smartest Sales Book You'll Ever Read. His sales coaching practice includes helping advisors convert prospects into clients and generating leads through videos and other elements of marketing. Dan is not affiliated with any advisory firm.
Get Dan's investing insights by signing up for his free, weekly newsletter here.
Subscribe to Dan’s YouTube investing channel here.
To receive updates about Dan’s new self-help book, Ask: Be Liked. Be Loved. Be Better, click here.
More Factor-Based Investing Topics >
Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.