As gubernatorial shut-down notices continue to roll in, financial advisors and others who rely on face-to-face contact to generate new business find themselves in a quandary. The need for sound financial advice has rarely been more critical than it is right now, but communicating with prospects has become a challenge. Conferences are out. Meet and greets are banned. Coffee shops and restaurants are closed. It’s time to evolve your prospecting strategy.
The solution is online communication. By sending everyone home, state and federal authorities have essentially created a captive online audience for you. There are 327 million people in the United States, including 210 million over the age of eighteen. They don’t all have a computer, but there are 270 million smartphones in use right now in this great nation of ours. You have the ability to speak with all of these folks if you learn to use your blog properly.
Normal People don’t Understand What’s Happening
The Fed announced unlimited bond purchases this morning, Congress is discussing a $2 Trillion stimulus package, and Investors Business Daily is projecting that GDP could contract 50% in the second quarter. You and I could have an informed conversation about any of these topics. Most “normal” people out there would have no idea what we were talking about. Savvy investors can hold their own, but even they need professional advice to wade through the complexities.
Just this month, I’ve written articles for financial advisors that range from managing downside volatility to preparing for potential layoffs and cutbacks in the domestic petroleum industry. I also put up a piece on this site to help unemployed people find online job opportunities. The common denominator for all of these articles is the breakdown and interpretation of industry-specific knowledge into words that “normal” people can understand.
According to the Google Dictionary, a blog is “a regularly updated website or web page, typically one run by an individual or small group, that is written in an informal or conversational style.” The words “informal” and “conversational” are the most important part of this definition. One common mistake advisors make is the writing of articles that are “too complicated” for their readers. Your audience doesn’t have a formal education in finance. You do. Remember that when you’re writing.
Financial Advisors are not (typically) Professional Writers
When was the last time you posted an article on your blog? You didn’t go to business school to become a blogger, so any time you’re “forced” to write, you view it as a burden. It’s not your job. You’re a financial advisor. I went to school for accounting and finance, but I have no interest in becoming a financial advisor. The first hour of my day is spent reading the Wall Street Journal, Barron’s, and local business news. The remainder of my time is spent writing.
There are, of course, exceptions to every rule. I’m a big fan of Michael Kitces and Jason Henrichs is a close personal friend. Both are excellent writers and know how to build an audience. They also each spend more time writing and promoting than they do advising these days. Can you afford to do that? I’m guessing you can’t. Our country is in crisis and your clients need financial advice. Spend time on that. I can handle your blog writing for you. Book a call with me to learn more.
Kevin D. Flynn is the founder and CEO of AdvisorScale Financial Writing. When he’s not writing or on the golf course, he spends his “free” time designing WordPress websites or creating business sales processes for start-ups. In addition to AdvisorScale, Mr. Flynn is also the Executive Director of H.E.L.P. for Young Readers and Managing Editor at October Golf Magazine. He lives in Leominster, Massachusetts, with his wife Evelyn. They have four adult children, two cats, and eight wonderful grandchildren.