It’s managing your business and then market. Before you market, determine the type of clients and partners you want to work with.

Replay Available: Financial Advisors Hit Your Niche and Become the Obvious Choice for New Clients

Available Immediately  — 45-minute, content driven replay.

Register now to watch the replay PLUS receive a 16 page ebook AND  our Your Niche Assessment, too!

http://www.elevatingyourbusiness.com/niche/

 

Marketing Smarter:  Hitting Your Niche

Position Yourself To Become the Obvious Choice

Presented by BrightTALK’s Finance ChannelHitting Your Niche

 

Why should an individual seeking a financial advisor contact YOU?  Why should your clients risk their reputation and REFER you?  What makes you STAND OUT?

 

If you answered, “Great customer service!” or “Experience!” your voice evaporated in a crowd of thousands.  If you talk about your credentials, how you’re paid, or your fiduciary responsibility, you’ll only confuse the stranger you’ve just met.

 

Wouldn’t you like to be SOUGHT OUT by prospects instead of constantly chasing them?  As a financial advisor, you need to establish a connection with the clients you’re looking to serve.   If prospects aren’t finding YOU, you are missing your niche.

 

In this program, you’ll learn how to differentiate yourself so that you become the OBVIOUS CHOICE for clients.  You’ll discover practical strategies for developing niche that single you out as the “go-to” expert.   

 

Accept that you can’t be all things to all people and enjoy the benefits that go with hitting your niche.  

 

WHO SHOULD ATTEND

Financial advisors, in business 1-40 years ready to grow your firm to the next level and beyond.

Join us, especially if you’re not currently running a niched firm or your niche isn’t working out as well as you thought it would.  OR you’re 10-20 years away from retirement and are ready to create a niche as a way to purposefully grow your firm as part of their nest egg

 

JOIN US TO DISCOVER:

– Common mistakes financial advisors make around niching

– 3 specific steps to help you identify the best niche for you and your firm

– The 4 four niches you don’t want to choose (and why)

LOGISTICS

Available right now!  Register to watch the replay PLUS receive a 16 page ebook AND  our Your Niche Assessment, too!

Register:  http://www.elevatingyourbusiness.com/niche/

Why Finding Your Niche Leads to More Success

13 Business & Finance Experts Reveal

Why Finding Your Niche Leads to More Success

 

What are you doing to separate yourself from the competition? Several experts in the finance and business world believe that niching is one of the best strategies you can use to stand out and increase your profitability.

 

Now here’s a quote, one of my favorite business quotes, which I bet you’ve often heard or seen online. It’s MORE OFTEN miswritten or misquoted, so to set the quote right by my colleague, Bob Burg, here it is:

 

“All things being equal, people will do business with, and refer business to, those people they know, like and trust.”

Bob Burg, entrepreneur and speaker, Burg.com

 

Read what more experts have to say about niching below.

 

“As more and more people earn their CFP certification and become financial planners, the mere fact that one is a financial planner is no longer the differentiator that it once was. In turn, financial planners find themselves increasingly compelled to focus into a niche where it’s easier to stand out and win clients…being a generalist may bring a lot of prospects but few clients, while settling into a niche may narrow the field of prospects but results in an incredibly high likelihood that clients (in the niche) will say yes and choose to do business.”

Michael Kitces, Partner of Pinnacle Advisory Group, Nerd’s Eye View Blog Publisher http://www.kitces.com/blog/

 

“A financial planner who presents his financial plan in a paper report is just similar to every other financial planner. It’s common.  A financial planner who presents his financial plan in an engaging video is special and unique.”

Ronald Sier, Financial Planner, Netherlands www.SeeBeyondNumbers.com

 

“Niche marketing is one of the most profitable ways to prospect and network. When approached correctly, working a specific niche market brings with it several inherent benefits, including superb positioning (as an expert), and easier access to those with whom you wish to speak.”

From Endless Referrals by Bob Burg, entrepreneur and speaker, Burg.com

 

“By building your brand, you’ll end up with zero competitors. Your firm will become singularly qualified to handle the complex financial needs of your target clientele.  The key is to realize that you can’t be all things to all people, but you can be all things to a small group of carefully chosen people who value your advice, service and relationship.  And it doesn’t take a large number of clients to be financially successful in this business.”

From Tested in the Trenches, by Ron Carson and Steve Sandusky, of Carson Wealth Management Group and Peak Advisor Alliance http://astore.amazon.com/eyb02-20

 

“If you want to begin finding your perfect niche as an adviser perhaps the first step is to think about the volunteer and community work that you have done – or thought about doing – over the years. The work that you have done for nothing – just to help other people or make the world a better place – will be the best guide for helping you zero in on what it is you truly love doing.  It is relatively straightforward after that to work out what you are great at…and working out what others will value and pay for.”

Tony Vidler, Adviser to the Advice Industry, New Zealand www.StrictlyBiz.co.nz

 

“Discovering your niche takes time and will be refined with time. Probably the very best place is to start with yourself. What are your passions? Your hobbies or pastimes?  Betcha you’re NOT the only one who likes ‘_____’.  Will narrowing your base of prospective future clients by working with a select group hurt?  On the contrary, how cool would it be if you’re known as the ‘Go-To’ financial advisor for a particular group of people.”

Marty Morua, Technology Advisor for RIAs http://t.co/bozuhl6ius

 

“…Simply defined (your target market) is the specific set of customers whose needs you are trying to meet. This is the audience, out of all who might hear your message, for whom you design your marketing program.   Instead of trying to sell your product or service to everyone in a market—everyone in your town, for example, or everyone who might see your television commercial—you should aim your message toward those who have the greatest potential need or desire for your product or service.”

Ivan R. Misner, Ph.D. & Robert Davis, From Business by Referral www.IvanMisner.com

 

“Focus on what you know. Understand the unique concerns and world of your niche.  I’ve seen former airplane pilots or senior executives from the nonprofit world develop businesses by focusing on those niches.  It’s all of a matter of knowing yourself and being cognizant of which groups of people with whom you’re likely to forge strong bonds.”

Mark Elzweig, President, Financial Advisor Executive Recruiting Firm http://elzweig.com/

 

“CEG Worldwide Research shows that a full 70 percent of top financial advisors—those earning at least $1 million annually—focus on a particular niche. In stark contrast, just 35.1 percent of financial advisors earning less than $150,000 a year have a niche focus.”

Jonathan Powell, Managing Director, CEG Worldwide research, http://www.cegworldwide.com/resources

 

“As an advisor, you have a choice: have high visibility in select target markets or low visibility in many markets. You can have a business where prospects flock to you OR you can continually chase prospects. You can be perceived as an expert OR be seen as just another investment guy or gal. You can have a business where marketing gets easier and more profitable every year OR you can continue to ’slug it out’ every year in the typical high cost, slow growth way.”

Mike Brizz, the CPAI, who created the Referral Mastery® System, http://www.referralmastery.com/

 

“There’s also a financial advantage to having a specific target client. When we look at other professions for best practices, there’s a strong correlation between pay and client profile. In legal firms, accounting firms, and doctors’ practices, specialists make more money than generalists do. Yet in financial services, advisors staunchly resist specializing. That’s often because they approach their work with a fear of scarcity.”

Matt Matrisian, The Power of Practice Management, www.AssetMark.com

 

“Create your firm’s niche on purpose. The alternative–taking any client who breathes–sabotages your productivity–and profits.”

Maria Marsala, Elevating Your Business, www.ElevatingYourBusiness.com

 

 

 

Complied by Maria Marsala, www.CoachMaria.com  Thank you to each of the financial advisors and business owners, who granted me permission to use their quotes.

 

Maria Marsala guides independent financial advisors to reach their 5-year business and personal goals in 24 months. She is a business coach, speaker, and a former Wall Street Trader. Named one of the Top 30 International Coaching Gurus in 2011, Maria has been recognized as a thought leader whose ideas have been published in Financial Planning MagazineRIA BizAdvisor MaxDow JonesThe StreetEntrepreneur Magazine, and numerous books, trade journals, and magazines. She has authored four business-building workbooks including Attracting Clients You Love Working With: 6 Steps to a Profitable Client Base. Did you find this article thought-provoking? Get more delivered directly to your inbox every two weeks by signing up here

 

More niching resources…

✔ Download Niching Assessment http://www.countonsuccess.com/financialadvisorniche

✔ Watch “Hitting Your Niche” Video  http://www.countonsuccess.com/financialadvisorniche

✔ Read more articles about niching http://www.MarketingWithIntegrity.com

11 Celebrities Endorse the Advantages of Finding Your Niche

When some of the most famous and highly-respected experts in the world give advice about niches, I sit up and pay attention. The diversity of industries represented by the quotes below only cement my belief that selecting and serving a niche is a key element to success–no matter what business or industry you’re in.

 

“Rock music is niche.”

Bono, Irish singer-songwriter, musician, venture capitalist, businessman, and philanthropist

 

“We expand what we focus on.”

Wayne Dyer, American self-help author and motivational speaker

 

“Identify your niche and dominate it. And when I say dominate, I just mean work harder than anyone else could possibly work at it.”

Nate Parker, actor and musician

 

“Between parts I was too old for and roles that were too overwhelming, out of reach then for my voice, I carved out a niche with the Wagnerian repertoire since I am attracted by its theatrical intensity.”

Placido Domingo, tenor and conductor

 

“Very narrow areas of expertise can be very productive. Develop your own profile. Develop your own niche.”

Leigh Steinberg, American sports agent, lawyer

 

“Broadcasting is definitely in my cards for the future, and I’m determined to work hard at it – to perfect it and create my style and niche.”

Apolo Ohno, retired American Winter Olympics medalist

 

“And I like to think we’ve come as far as we have by word-of-mouth marketing, by understanding where our niche markets are. I was just sitting here reading an article in Forbes magazine about grass-roots marketing, and they are talking about a lot of things we’ve been doing for years.”

Glen Snow, National Promotions Director, ATC. (Athletic Trainer, Certified)

 

“We’re confident in the market and we certainly will seek out carriers to fill that niche.”

Brad Livingston, National Account Executive at Starbucks

 

“Look, all you can do when you find your niche is go with it.”

Vincent D’Onofrio, American actor, director, film producer, writer, and singer

 

“Then I realized my early work did have something special that audiences adored apart from what I humbly thought about them. They occupy a distinguished niche in Italian film history and probably always will.”

Dario Argento, Italian film director, producer and screenwriter

 

“Today, in terms of news, we have a fractured picture . . . more of a niche. Whether it be in terms of the Web or talk radio or cable television, everybody has their particular site on the news dial instead of having that broader picture. In the last year, we’ve seen Jennings, Brokaw and Rather all go away, a tremendous rate of change.”

Juan Williams, Panamanian-born American journalist and political analyst

 

 

Complied by Maria Marsala, www.CoachMaria.com

 

Maria Marsala guides independent financial advisors to reach their 5-year business and personal goals in 24 months. She is a business coach, speaker, and a former Wall Street Trader. Named one of the Top 30 International Coaching Gurus in 2011, Maria has been recognized as a thought leader whose ideas have been published in Financial Planning MagazineRIA BizAdvisor MaxDow JonesThe StreetEntrepreneur Magazine, and numerous books, trade journals, and magazines. She has authored four business-building workbooks including Attracting Clients You Love Working With: 6 Steps to a Profitable Client Base.

 

Did you find this article thought-provoking? Get more delivered directly to your inbox every two weeks by signing up here.

 

More niching resources…

✔ Download Niching Assessment http://www.countonsuccess.com/financialadvisorniche

✔ Watch “Hitting Your Niche” Video  http://www.countonsuccess.com/financialadvisorniche

✔ Read more articles about niching http://www.MarketingWithIntegrity.com

 

Free Webinar. Marketing Smarter: Hitting Your Niche

Marketing Smarter:  Hitting Your Niche

Position Yourself To Become the Obvious Choice

Presented by BrightTALK’s Finance ChannelHitting Your Niche

 

Why should an individual seeking a financial advisor contact YOU?  Why should your clients risk their reputation and REFER you?  What makes you STAND OUT?

 

If you answered, “Great customer service!” or “Experience!” your voice evaporated in a crowd of thousands.  If you talk about your credentials, how you’re paid, or your fiduciary responsibility, you’ll only confuse the stranger you’ve just met.

 

Wouldn’t you like to be SOUGHT OUT by prospects instead of constantly chasing them?  As a financial advisor, you need to establish a connection with the clients you’re looking to serve.   If prospects aren’t finding YOU, you are missing your niche.

 

In this program, you’ll learn how to differentiate yourself so that you become the OBVIOUS CHOICE for clients.  You’ll discover practical strategies for developing niche that single you out as the “go-to” expert.   

 

Accept that you can’t be all things to all people and enjoy the benefits that go with hitting your niche.  

 

WHO SHOULD ATTEND

Financial advisors, in business 1-50 years who are:

—  not currently running a niched firm and know it’s time to focus on one niche

—  running a niched business but their niche just isn’t working out the way they thought

—  10-20 years away from retirement and are ready to create a niche as a way to purposefully grow their firm as part of their nest egg

 

Join us to discover:

– Common mistakes financial advisors make around niching

– 3 specific steps to help you identify the best niche for you and your firm

– The 4 four niches you don’t want to choose (and why)

LOGISTICS

September 24, 2014

Time: 4pm EST  / 1pm PST

Register:  http://www.elevatingyourbusiness.com/niche/

18 Places Advisors Learn More About Your ideal Clients

Congratulations! You’ve invested time and thought into determining the type of clients you want to work with. Your niche is set. You’re so far ahead of all the other financial advisors! Great going!

You’ve created your Ideal Client Profile using demographics, technographics, psychographics and geographics. You’ve checked out your assumptions. You’ve also created a five high-priority question list to ask prospects in a discovery interview; these questions are designed to learn if indeed you’re sitting across from an ideal client (or a prospect from hell).

You are one of the proactive advisors who “gets” the importance of focusing your time and talents on the best type of client for your business.  You’ve also set yourself apart from other “plain vanilla” advisors — marketing like everyone else is marketing and not making themselves memorable (or remember-able).

NOW WHAT?

During one of my presentations, about how advisors can become the obvious choice for prospects, I was asked if I had a list of resources that can be used by advisors who are proactively targeting prospects.  The list below is what I created to help you learn more about the prospect you’re going to meet with later on this week or month.

Give your assistant their name, address, and any other information you have. Put the date on the form that you need it back. Ask them to create an Initial Client Web Info Sheet that include the websites where they’ve gotten the information. When it’s as complete as possible they should return it to you. Use the information you learn to better connect with the person you’re about to speak with. Knowing a bit about the person shows that you care and that they’re more then just a number or just another prospect. It also shows that you’re a professional and let’s them see that research is part of what you do for your clients.

Instead of having to make a lot of calls to do it… you can learn a lot about prospects from the comfort of your computer.

 

Where to learn more about prospects:

1. Their website (in addition to the obvious, many families have websites, too.)

2. Their marketing materials

3. Dunn and Bradstreet dnb.com

4. Check LinkedIn for information about them but also search for people who have worked for them and look for their company profile, too.

5. Websites such as Jigsaw.com, CEOExpress.com, BizStats.com, InfoUSA.com

6. Association trade publications and Tradepub.com

7. Thomson Reuters

8. Hoovers

9. Gales List of Associations (Usually available free and online through your library.)

10. Searches and alerts on: Google, Twitter or SocialMention.com

11. Ask family, friends, clients, or colleagues

12. Ask your librarian for resources available at the library or its online database (usually Resource USA but they could have other databases online to help you find your demographic, too).

13. Local economic, rural or small business development corporations.  Sometimes called EDCs, or RDCs.

14. Association Executives Directory http://www.associationexecs.com/

15. The local Better Business Bureau

16. A search on your favorite search engine, plus one with the word “complaint” in it

17.  Facebook.  Many people tell us about themselves personally on FB.  See what you find.

18. The person that referred them to you.

 

Good luck! Remember that all the time and effort to develop your Ideal Client Profile will pay off. in drove$.   You’ll attract new clients easier, retain them longer, and you’ll be more profitable with less effort!

Special thanks to my LinkedIn Colleagues, around the world,  who helped me add to my original list.

 

(c) 2009.  Elevating Your Business.  As an unstoppable business strategist and former Wall Street retail trader, Maria Marsala specializes in helping RRs and advisors increase their productivity and production.  For 20 years on The Street, she helped financial professionals sell more bonds and secure loyal clients.  Today, they attract higher-quality clients and grow their businesses to serve their lives – not the other way around.  Uncover the  areas of your business screaming for your immediate attention and those that deserve a big hurrah!  Request Maria’s Business Builder Kit (free) at www.CoachMaria.com

 

What other places could you add to my list?  Comment below