Are You Marketing Your Financial Business Like a Bottle of Pomegranate Juice?

How are you marketing your financial business, when financial advisers are commodities? We all sell the same products. We all sell them for the same price. We all offer our clients good service. We all have a good handle on how to help our clients best. So how do we get a prospect to choose … Continue reading “Are You Marketing Your Financial Business Like a Bottle of Pomegranate Juice?”

How are you marketing your financial business, when financial advisers are commodities?

  • We all sell the same products.
  • We all sell them for the same price.
  • We all offer our clients good service.
  • We all have a good handle on how to help our clients best.

So how do we get a prospect to choose us over someone else?

How to Get Prospects to Choose You

Well, we can all take a great lesson from how billionaires Stewart and Lynda Resnick marketed over hundred acres of unwanted pomegranates. All the way up to 2002, pomegranates were rarely eaten in the US. Less than one in 20 had ever bought a pomegranate, and most of those people use them for decorations instead of eating them.

So the Resnick’s had a problem…

They had lots of a fruit that very few people wanted.

So what did they do?

They created a fantastic USP.

Five years ago, they began selling their pomegranates as juice in unique double bulb bottles, at four dollars a bottle. It was a smash hit! They took a fruit from utter obscurity to charging four dollars a bottle and have people buying it by the case.

How?

They simply did their homework. They framed the pomegranate juice as the healthiest drink available to the US public. I don’t know if you’ve tasted it, but the stuff is awful.

The Resnick’s flooded the market with information about how healthy pomegranate juice was. It cures heart disease, ED and more. You name it. Pomegranate cured it. It became the new, must have “super food”.

So what can you learn from this example?

Go out and give advice that is the completely opposite of what everyone else is providing in your industry? Yes, if you can.

Unfortunately, that is probably not an option.

The advice the financial industry gives, is generally very good advice. But let’s think about this for a second. All fruits are good for you. You can find the “super food” characteristics in any type of fruit. All the Resnicks did with pomegranate, was showcase pomegranate’s particular attributes, versus trying to be the “me too” of fruits.

So, here’s what you should be doing now.

How to Find Your Unique Selling Proposition

You need to find the thing that makes you better than your competitors.

  • Maybe you are an expert on “green” funds.
  • Maybe you’re an expert on the stocks of companies run by women.
  • Maybe you understand the need for financial planning for families with special needs.
  • Maybe you are an expert on the retirement plans of a large corporation in your city.
  • Maybe you’re an expert on Medicare part D

There’s a high likelihood, you are already an expert on a particular topic. You may not require a whole heck of a lot more research than you’ve already done. Sit down and figure out what it is that you know more about, than your competition.

It doesn’t matter what it is, just become an expert.

3 Ways to Become an Expert and Gain Instant Celebrity Status

1. Write articles and submit them to targeted print and online publication. For submitting articles to the top websites, ezines and article directories, I recommend using PR Leads Article Marketing Experts. They also have a great A to Z product that will teach you how to write articles at BroadcastYourArticles.com

2. Issue press releases to your local paper, radio and TV stations. You can also submit press releases online using services like PublicRelationsSoftware.com.

3. Make sure groups that may be interested in your expertise know that you and your expertise exists.

By being the expert on any issue, you tell your prospects that you are different from your competition. You give both your clients and prospects something to hold onto, a handhold that describes who you are as a financial planner.

Your Next Steps

Take a hard look at your practice and ask yourself the question, “Why would someone work with me, versus my competitor?”

If you don’t have a very specific answer to this question, you are doomed to mediocrity. You are always going to be looking for your next client. You’re always going to be spending money on marketing. You’re always going to be losing some of your clients to competitors.

The only way off, the gerbil wheel is to become an expert. When you are an expert people seek you out, rather than you endlessly seeking them out.

Getting Help From a Financial Business

It seems like everywhere you look today there is a financial business that has opened their doors for business. Under this category, there are many different business entities that exist. From financial planners, investment companies, market analyzers, and more, financial businesses can help you plan out your retirement fund, teach you how to invest, how to trade in the stock markets, and more.

Finding the right financial business to assist you with your needs is pretty easy. You can either check your local yellow pages, newspapers, or even the Internet to find a wide variety of financial businesses. Then you need to call and schedule a consultation appointment to find out whether or not this particular business will suit your needs.

When it comes to a person’s finances people are a little reserved. They have to trust the business to handle their money the way that they would if they had the expertise. They don’t want a business that will take too many risks with their future. They are taking advantage of a financial business in order to secure more money for their retirement, to leave to their families once they have passed, and more; therefore, they want a business that has their best interests in mind.

Also, consumers love to be kept in the loop. If there isn’t sufficient and efficient communication between both the business and the consumer, consumers will typically decide to pull their business from one to take it to another that offers better communication; therefore, resulting in a higher level of trust.

The next time that you are looking for a way to rollover your 401K or when you are considering investing in the stock markets, remember that a financial business can help; however, make sure that you feel comfortable with the particular business that you choose. After all, it is your money and your future.

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The Financial Business Model: 5 Keys to Long-Term Success

Why do so many businesses fail to make profits and achieve their financial goals? The answer is simple because many business owners simply ignore one or more of the 5 keys to financial success. Many businesses are making sales but are not profitable. Learn how to fortify your business model and set your company up for success. Developing a financial business model provides a clear picture of your company’s financial history as well as your company’s financial future. Working from a financial business model will help to prepare your company to make better decisions for the company in the future. And analyzing your finances on a regular basis will provide you with the financial success you are seeking to achieve. Get ready to gain more flexibility and financial freedom in your company with the keys to success.

Key #1) Don’t Go It Alone
Mismanagement of finances is not reserved for start-up companies but for all businesses. Many business owners are able to produce and sell their products and services but are not able to manage their finances. If you are not able to determine where you have been you will not know where you are going. Accountants and bookkeepers are able to assist your company with establishing a financial foundation and making predictions surrounding your financial future.

Key #2) Review Historical Data
By developing a financial history of your company’s finances provides you with valuable lessons for the present that will guide you into a more profitable future. Reviewing financial history helps you to know what to do and what not to do in your business. Compiling historical financial data can help your bookkeeper or accountant to assess the reasons for your success or failure.

Key #3) Project Sales and Costs
Once you have completed the second key it will set you on the trajectory to be able to project the sales and costs. Projecting sales and costs without historical data can be challenging but not impossible. Projections for your company are not a process that begins at the start-up phase, it is an on-going process to help determine areas of growth and change. Costs are always easier to project than sales. However, sales should not be your main focus but rather on the company being profitable!

Key #4) Develop Financial Statements
Financial statements are the framework for the accounting cycle. In other words, the income statement, the balance sheet, and the statement of cash flows provide a picture of how well your company is doing financially. Financial statements structure all financial data in a manner that is easy to understand and should be prepared with accuracy. These statements assist you with assessing financial performance and determining key business decisions.

Key #5) Assess and Implementation of Changes
This is the final piece in the financial business model. Once all of the first four keys have been established you will be able to assess your company’s financial position and implement changes where it is necessary to ensure financial growth and success. Tying it all together the financial statements will reflect your company’s historic information and decisions can be made about the future from that data.

The financial business model provides clear information to assist you in making sound financial decisions that can promote long-term success. Applying these five keys to your business will set your company on the path to achieving your goals and turning profits!

JC Andrews has over 17 years experience in bookkeeping. She specializes in bookkeeping for small businesses and start-up’s and published a free report for small business owners. You can learn more about her services and get your copy of the free report at The Ledger Virtual Bookkeeping Company, http://www.theledgervbco.com.