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    5 Ways Financial Professionals Can Become Known in Their Target Market

    Posted by Partners Advantage on Wed, May 26, 2021 @ 12:00 PM

    We think you’ll agree with us when we say:

    It’s REALLY difficult to break through the marketing noise and reach high-value clients.

    But as it turns out, there ARE ways you can dramatically increase the chances of prospective clients approaching YOU.

    In fact, the five ways we’ll share with you, all help increase your authority. And according to this Forbes article, “trusted authorities who consistently provide insight to the marketplace affirm the need (and desire) to hear from them, follow them, learn from them and work with them.”

    5_ways_financial_professionals_become_known_in_their_target_market

    But here’s the thing:

    “Establishing authority requires showing that you’re a specialist in a particular subject matter or process, and possess a particular skill set that can help your prospect.” [Source]

     

    We’re going to tell you how you can establish authority, but let’s back the truck up because before you can start establishing your authority, you have to make sure you’re clear on who your ideal clients are or who your target market is.

    A target market is comprised of people you specifically want to do business with. As a financial professional, your target market might be people who are in your age demographic, who have children, and who have a net worth of $500,000 or more.

    Whoever your ideal clients are, it can be difficult to get noticed by your target market.

    After all, there are many financial professionals out there, and your top prospects don’t know you exist!

    To change that, you want to be seen consistently and on topics related to your target market or niche. This reinforces your brand in the eyes of your prospects. If you’re constantly being seen as an authority on a specific topic, you naturally become the go-to person or source. Once you’ve established and built on existing credibility, prospects seek YOU out.

    In this post, we’ll share five ways you can increase your visibility and become known in your target market.

    Way #1: Publish a Blog or Newsletter

    A blog or newsletter is an excellent way to get noticed in your target market. By writing informative and educational content, you’re building authority in your practice area. Furthermore, you’re giving people the knowledge they need to solve their problems.

    One of the easiest tips for coming up with topics to write about is to answer your client/prospect’s questions. Every time you get a question from someone, create a blog post about it. This concept was popularized by Marcus Sheridan, a pool guy turned blogger, podcaster, and keynote speaker. His philosophy is “They Ask. You Answer.”

    You can read more about this in Sheridan’s book, They Ask You Answer: A Revolutionary Approach to Inbound Sales, Content Marketing, and Today’s Digital Consumer.

    But what if you don’t have a lot of time to create content in your practice area?

    You can curate content. Curation is the process of gathering and organizing information from various sources and presenting it in a way that’s easy to digest, such as a newsletter.

    You might think that curating content means giving all the credit to other people and therefore, doesn’t establish you as an authority. But here’s how you change that –– instead of thinking of it as just forwarding a Money article to your target audience, for example, use it as an opportunity for thought leadership.

    Make sure to give credit to content creators where it’s due, but then add your own commentary and reflection on the content you’ve curated. Pull out key insights and make connections for your audience. Show them how to apply the information you’re sharing.

    Curation is especially effective today when we are overrun by content. You can provide value to your prospective clients by filtering information, so they don’t have to. As a result, YOU can become the authority.

    Way #2: Host a Podcast

    If you’re not a fan of the written word, you can help increase your visibility and become known in your target market by hosting your own podcast.

    Here’s why it works:

    Nearly 51% of the U.S. population has listened to a podcast and of those who listen, 80% listen to all or most of each podcast episode. [Source]

     

    This is a popular way for business owners to build their authority on a particular topic and turn listeners into clients because it’s pretty cheap to do. You’ll of course need to choose your niche, the name of your podcast, the style and format, length and frequency. You’ll need to invest in a high-quality microphone, as well as recording and editing software.

    Not a podcast-savvy person?

    You can achieve a similar impact in your business by being a featured guest on a popular podcast instead. To find relevant podcasts to be interviewed on, check out free directories of podcast shows and host contact information, such as RadioGuestList.com or PodcastGuests.com.

    Record the information you find in an Excel file. Then follow up and consistently interact with the podcast hosts on social media. This makes it more likely they’ll say YES to booking you on their show when you ask.

    Remember, podcast hosts may have hundreds of episodes (which is a good thing), but they are always looking for new people to interview. These podcast interviews can be shared with the news media and your existing network to help build your authority.

    Way #3: Seek Out Speaking Engagements

    Although live events took a hiatus in 2020, they are very likely to come back as people miss the in-person experience. That means, there is still a need for speakers who want to grow their audience and authority. As you’re probably aware, there are plenty of venues for that.

    • Paid speaking gigs at industry conferences
    • Free educational presentations at the local library
    • Financial focused Informational sessions at companies

    As with the other options for growing your authority, you need to first establish who you want to get in front of. Once you’ve decided on that, it’s much easier to search for events and event organizers to contact.

    The next thing to consider is the specific topic you want to speak about.

    Would someone pay to hear you present on that topic?

    And just as important, why should people listen to you?

    Not only does speaking boost your authority, but the other suggestions we make here, can make you a sought-after speaker (Imagine if you were an author of a book? We bet event organizers would be even more interested in bringing you to the stage.)

    Not interested in doing live events? Check out online summits or roundtables. You could also record a webinar. A recorded webinar not only works great as an evergreen lead magnet, it also helps you be seen as an authority. Just make sure that your presentation helps a client or prospect solve a problem. It’s not a recorded sales pitch – always keep in mind “WIIFM.” Your clients are always wondering, What’s In It For Me. So, make that obvious!

    Way #4: Create Some Buzz (PR) Around Your Brand

    Creating content that no one sees is pointless.

    You could write the best blog post or have the most interesting podcast, but if no one knows it exists – it doesn’t do you any good. And we’re guessing you’re not just creating content for the fun of it – you want to see some ROI.

    One of the ways to get seen by your target audience is to get media mentions. Let’s say you published a podcast or wrote a book, announce it in a press release. Having these assets accessible online makes you more “discoverable.” What that means is when someone Googles your name, you’re more likely to come up in search results. That’s a good thing!

    It’s important to note that YOU saying you’re an authority on a topic is whole lot less effective that SOMEONE ELSE saying you’re an authority. That’s the power of third-party validation or social proof. So, how do you get someone else to position you as an authority?

    One way is to be quoted in an article. To get the media’s attention, research and connect with journalists who are looking for authorities in specific industries. When they need quotes, opinions, or facts, they connect with people in-the-know.

    To find journalists, check out HARO (Help a Reporter Out), which could be a powerful marketing tool for your financial practice.

    Way #5: Write a Book

    In our society, authors are revered.

    And 80% of people want to write a book! However, it can seem like a daunting task, which is why only a fraction of the people who think they have a book in them, actually end up writing one.

    The good thing is, you don’t have to become a bestselling author to experience the benefits of having a book.

    As long as you have ideas, insight, and knowledge to share or a specific framework you use to help your clients achieve results, you could potentially fill a book –

    A book that brings clients to you.

    Writing a book doesn’t have to be as hard as it sounds. The first step is making sure you have answers to the following questions:

    Who is your ideal reader?

    What is your ideal reader struggling with or looking for?

    What is your ideal reader’s biggest challenge that you can help with?

    If you’re having trouble answering the above questions, look at other books in your niche for inspiration.

    Keep the topic of your book narrow. You won’t be able to share everything you know as a financial professional in one book. Instead, focus on teaching one key concept that will help your readers with their biggest challenge. For example, if your book is about investing, choose one investment rather than covering stocks, bonds, mutual funds, and exchange-traded funds. Choosing one makes writing the book simpler and quicker. Remember, you can always write more!

    But what if writing a book just isn’t in the cards for you?

    Well, there’s a solution to that. It’s putting your name on a “white-labeled” book. Believe it or not, people write books that they’re willing to let you put your name on. The point to remember is that you still want the topic of the book to be something you have knowledge about, so that you can help the clients who read the book, put the concepts into action.

    Having a book like this can shorten your sales cycle because you no longer have to convince someone to work with you. The book pre-sells them on working with you and the best prospects will seek out your services after reading the book.

    *Before you start any marketing campaign, be sure to check advertisement guidelines in the state you do business in.

    In Conclusion

    There are multiple ways to become known in your target market. Building your authority is one of the most effective ways to do that.

    You can absolutely do everything we’ve outlined here on your own, however, as you probably know –– it’s a lot of work. No one said becoming an authority was easy.

    But we do have a way to make demonstrating your authority EASIER.

    That's with our packaged offers inside Retirement Income Authority program. We believe in this concept so much and know financial professionals have used authority marketing successfully. That’s why we wanted to create an opportunity for our contracted producers to take advantage of it as well.

    • Whether you’re interested in putting your name on a book that helps educate clients on optimal Social Security claiming strategies...
    • Or you have other specialties in your financial practice and would like to do a podcast interview on those topics…
    • Or you want to host your OWN podcast ––

    We have something for you.

    And the best part, when you work with us, we handle the technical side of things.

    So, all you have to do is tell us what you want and show up with your expertise!


     

    To hear details about the different packages, specific to your interests and areas of focus, schedule a call with your Partners Advantage representative today.

    Added bonus! You’ll find out how you can get this at no out-of-pocket cost.

    Schedule a Call

    Tags: prospecting, best sales techniques, Marketing and Branding for Financial Professionals

    FOR PRODUCER USE ONLY. NOT FOR USE WITH CLIENTS.

    This content is for informational and educational purposes only and is not designed, or intended, to be applicable to any person's individual circumstances. It should not be considered as investment advice, nor does it constitute a recommendation that anyone engage in (or refrain from) a particular course of action.

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