WHY A GOOD BRAND

MATTERSBECAUSE YOUR BOTTOM LINE MATTERS

WHY A GOOD BRAND MATTERS ©TOP ADVISOR MARKETING. ALL RIGHTS RESERVED

BRANDING AND ITS MANY MISCONCEPTIONS.There are many misconceptions about what exactly is a brand. And there are many questions regarding the importance a brand plays in growing your professional financial practice. This white paper will be useful for anyone wanting to assess their current brand, understand brand must-haves and confirm why they are important.

FIRST Your brand is not a logo or a tagline.The “swoosh” for Nike is not their brand. It simply represents their brand and conjures thoughts or feelings about what their brand represents when you see it. A logo and tagline are important to delivering your brand, but they are not your brand.

SECOND Your brand is not a service.Comprehensive financial planning is not your brand. Although, how you provide comprehensive planning may be your brand. The value you provide taking clients through the process and the feelings they get knowing their financial future is well thought out: That’s the start of a brand. And if that feeling is attributable to you because of your unique approach or unique value, then you’ve got a brand that is difficult for others to compete with. Now your brand is much more valuable.

FINALLY Your brand is not who you say you are.Your brand is who your clients say you are. Your brand is a person’s perception of you, your service and your firm. You have the opportunity to frame what your clients say – that’s what branding is all about.

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WHY A GOOD BRAND

MATTERSBECAUSE YOUR BOTTOM LINE MATTERS

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EVERYONE HAS A BRAND.Everyone has a brand. Few leverage it. What an opportunity for you.How many of your competitors invest in their brands? How many of your clients would refer you more and better clients if your brand was clearer? And for those who are newly introduced to your firm, does your brand do a good job of positioning you the way you’d like?

BAD BRANDS... Chase short-term profits at the expense of long-term gains.Everyone is constantly looking for the magic bullet. It’s human nature to seek the shortest path, and it’s also human nature to do so at the expense of doing it right. Entrepreneurs are no different. Financial advisors are no different. You have the choice to do it differently.

GOOD BRANDS... Grow the value of your business by reinforcing its focus.A new and compelling message presented with professionalism is powerful. Even more powerful is the new-found energy gained from the clarity of “what you do best” and “who you work with best.” The confidence gained from this new clarity and positioning is energizing. It motivates professionals to get out there more, to be able to quickly and concisely position their firm in meetings and with other professional advisors, and they have renewed confidence asking for referrals.

GOOD BRANDS ARTICULATE A COMPELLING MESSAGE THAT IS...Clear. Relevant. Compelling. Consistent.

ARE YOUR MESSAGE AND VALUE PROPOSITION CLEAR?

IS YOUR MESSAGE RELEVANT TO THE AUDIENCE YOU WANT TO WORK WITH?

IS YOUR MESSAGE COMPELLING ENOUGH TO GET PEOPLE TO ACT?

IS YOUR MESSAGE CONSISTENT ACROSS ALL MEDIUMS? (YOUR OFFICE, YOUR STAFF, YOUR MARKETING)

MESSAGE TEST RANK 1-5(1-NOT REALLY, 5-ABSOLUTELY)

SEE IF YOUR BRAND PASSES THE MESSAGE TEST.A good brand should score at least 14 or higher.

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GOOD BRANDS BUILD CONSUMER CONFIDENCE BY SHOWCASING YOUR...Expert Credibility. Professionalism.

DOES YOUR MESSAGE POSITION YOU AS AN EXPERT?

DOES YOUR BRAND SHOW EVIDENCE OF YOUR EXPERTISE?

IS YOUR BRAND PROFESSIONALLY PRESENTED:

- VIA A PROFESSIONAL WEBSITE AND MARKETING KIT?

- VIA PROFESSIONAL STAFF AND OFFICE SPACE?

- VIA A PROFESSIONAL MEETING AND PLANNING PROCESS?

- VIA TANGIBLE AND PROFESSIONAL PLANNING AND REPORTING TOOLS?

- VIA YOUR PROFESSIONAL APPEARANCE?

CREDIBILITY TEST RANK 1-5(1-NOT REALLY, 5-ABSOLUTELY)

GOOD BRANDS FULFILL SPECIFIC ROLES IN YOUR SALES AND MARKETING STRATEGY...Sales Cycle. Client Communication. Inspiring Referrals.

IS YOUR BRAND ADDING VALUE TO YOUR SALES PROCESS?

IS YOUR BRAND IMPROVING HOW WELL YOU COMMUNICATE WITH CLIENTS?

IS YOUR BRAND INSPIRING YOU TO ASK FOR REFERRALS?

IS YOUR BRAND INSPIRING YOUR CLIENTS TO REFER MORE?

IS YOUR BRAND INSPIRING YOUR CENTERS-OF-INFLUENCE TO REFER MORE?

ROLE TEST RANK 1-5(1-NOT REALLY, 5-ABSOLUTELY)

SEE IF YOUR BRAND PASSES THE CREDIBILITY TEST. A good brand should score at least 25 or higher.

SEE IF YOUR BRAND PASSES THE ROLE TEST. A good brand should score at least 18 or higher.

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WHY A GOOD BRAND MATTERS.Because your bottom line matters.If you’re evaluating branding on direct ROI, you might not see the real value of a brand – which is almost always indirectly connected to ROI. There is plenty of research that shows the power of branding as a foundation, not the sales trigger, and that firms who disregard branding often fall far short. That’s been proven time and again. Unfortunately, there are no validated studies that quantify the return on investment branding creates for financial professionals’ practices. The best research on branding ROI might just be common sense.

BRANDING IMPACTS ROI.More Share of Wallet. More Loyal Clients. More Referrals. Better Referrals.

Here are some of the ideas that relate to brand ROI.

A GOOD STORY SELLSYou know when you have a good story, it’s much easier to sell or convince people to do business with you. Whether it’s prospective clients or referral partners – it’s easier when you have a compelling story to share. And when they do decide to work with you, they invest more with you – because they trust you more as a professional.

A PROFESSIONAL BRAND SELLSWhen everything you present is professional, it adds up – to loyalty and sales. Convenient, beautiful and comfortable office space sets people at ease when they meet you. Professional communication at every level of your organization breeds confidence, which leads to further engagement. Professional marketing, including your website and marketing kit, makes it easy to understand and quantify your value and uniqueness – which again, leads to more sales.

BRAND ADVOCACY SELLSWhen you have a clear, simple and compelling story, it’s easy to refer you business. And when everything you do is of the same professional essence, you’ll move everyone to advocate for your firm. And advocacy sells more than anything. Since many financial firms derive up to 95% of their business from referrals, branding to build advocacy makes investing in your brand a sure ROI success. Brand advocacy also creates more loyal clients, and you know that it is much less expensive and time consuming to keep a client than try to get a new one. And perhaps one of the most compelling impacts of a great brand – your clients know who to refer you to – you get more referrals of ideal clients, which allows you to significantly increase your revenue per client.

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HOW TO SIMPLIFY YOUR BRANDING STRATEGY.Simple is better – especially when it comes to running your business.

STEP 1 - DEVELOP AND BE YOUR BRANDStart with your message and everything else will have a much greater chance of success.Make sure your brand:

● differentiates you in a way that resonates with your audience,● is easy for them to share with others and● promotes a brand promise you can keep.

STEP 2 - CONVEY YOUR BRAND THROUGH PROFESSIONAL MARKETINGDon’t settle for anything less than professional marketing. A big part of your message will be the look and feel of your brand across every medium. If you can’t afford to have everything produced at the required level, then start with a website and move forward with other marketing as your budget dictates.

STEP 3 - STICK TO REFERRAL AND CLIENT COMMUNICATION TACTICSReferrals are the center of the universe as far as financial professionals are concerned. Put everything you have into them. Find a referral coach if needed. Create a process. Follow through. Do what it takes to maximize every referral opportunity. Ask and talk about referrals every chance you get. Use client communication strategies to nurture your brand and set up referrals.

STEP 4 - MAKE LESS (EFFORT). EARN MORE (PROFIT).Enough said.

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