"Lights, camera, action!"
The command echoed through the Mariposa Ballroom at Aria Hotel in Las Vegas, instantly capturing the attention of everyone seated. Suddenly, a massive screen lit up with flashing lights and booming sounds, evoking the adrenaline rush of an action movie.
Pacing out onto the stage to kick off the second annual Jolt Conference was Snappy Kraken CEO Robert Sofia. Attendees at once were laser-focused on Sofia, the head of an-all digital marketing system designed specifically for financial advisors.
My first thought: Unique and still new in the industry, the Jolt Conference has brought long overdue attention to advisor marketing.
My next thought: Marketing is the lifeblood of any successful business, let alone practice. Every advisor in this room and beyond needs to be doing it. #NoMoreExcuses
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Marketing helps expand a company's brand and reputation, fosters strong customer relationships, and drives sales. By developing effective marketing strategies backed by automation and systems, advisors can attract new clients, retain existing ones, and differentiate themselves from competitors in a crowded market.
It’s what all advisors say they want.
The conference brought together industry marketing thought leaders like Sofia, who urged advisors to avoid overused, jargon-filled phrases such as, "I'm a fiduciary." Instead, he and other speakers implored advisors to focus on communicating the real value they provide to clients by being authentic to who they are, using relatable terms and concepts prospective clients (a.k.a. actual people) can understand.
By doing so, advisors can better connect with clients and build stronger, more meaningful relationships – ultimately, more referrals, share of wallet, and the success metric every advisor aims for, assets under management.
READ MORE: Industry conferences for financial advisors to attend in 2023
Here are some key takeaways from the conference that advisors can use to rejuvenate and amplify their marketing efforts.
Connection. In his opening speech, Sofia defined marketing as a human connection at scale. This means businesses should aim to establish personal relationships with clients on a larger scale.
With the rise of digital marketing, it's easy to forget the importance of human connection. However, it's still a crucial component of any successful marketing campaign. By building relationships with customers and nurturing them throughout the journey, Sofia reminds us effective marketing creates loyalty, generates referrals, and increases sales.
Creativity. Another important aspect of marketing is creativity. With so much noise and clutter in today's marketplace, it's important to differentiate and stand out. This can be achieved through compelling visuals, storytelling, interactive elements, and video marketing.
As the opening video of Jolt concluded, the same man who starred in it appeared on stage, clad in a vibrant, all-yellow, Top Gun-inspired jumpsuit. His electrifying presence immediately captured the attention of the audience, making him a show-stopper. Throughout the event, he remained in character, and attendees couldn't resist taking pictures with him.
Community. Bringing people together and getting them talking is another important aspect of marketing.
During a panel focused on events, the audience heard Matt Middleton, president and CEO of Advisor Circle, which organizes the Future Proof event, stress the importance of the connective tissue between events. “It's not just about the event itself but also about the community that's built around it,” he said.
By fostering a sense of community, businesses can create a network of loyal followers who are invested in the brand, said Samantha Allen, vice president of digital marketing at Carson Group.
And by creating an emotional connection, businesses can build a community that's committed to their success. Cici Prsha, CEO and founder of CJN Communications, emphasized the need to consider and name the actual emotions that businesses want people to feel.
Conversion. Conversion is another important aspect of marketing. It's not enough to simply create great content and build a system. Businesses must also drive real business results. This requires having a process for automation and working with leads. By automating certain aspects of the sales process, businesses can streamline their operations and increase their conversion rates. By working with leads, businesses can better understand their customers' needs and tailor their messaging to meet those needs.
Advisors like Marvin Mitchell, founder and president of Missouri-based Compass Retirement Solutions, shared his framework for putting advisors on the fast track to growth using radio and television, combined with marketing automation to generate and qualify leads. Mitchell credits marketing automation and the use of systems to generate $120 million of new aum for his firm annually.
Credibility. Finally, credibility is an important aspect of marketing and LinkedIn, with over 830 million users, is the place for advisors to build their social media presence. I joined a panel on personal branding to discuss this topic, which also featured Lindsey Gladstone, vice president of Snappy Kraken, Sheryl Hickerson, CEO of Females & Finance and Kian Salehizadeh, vice president of finance at LPL Financial.
READ MORE: How advisors can connect on LinkedIn
A Wall Street Journal article I tweeted earlier that day noted people who follow both a company and one or more of its executives are twice as likely to purchase from that company. Said differently, people are more likely to do business with a company they trust and believe in.
Personal branding is one way to build credibility and establish subject matter authority. By positioning themselves as experts in their field, businesses can build trust with their customers and differentiate themselves from their competitors.
Marketing is a crucial component of any successful business. Businesses can create effective marketing campaigns that drive real results by focusing on human connection, creativity, community, conversion, and credibility.
The insights from the Jolt Conference provide valuable guidance for financial advisors looking to take their marketing to the next level. By implementing these strategies, businesses can build a strong brand, generate more leads, and increase sales.
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