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Finding Gold
Credibility Marketing (Part Two)
By Michael Lovas
April 1, 2004
This article is taken from the program I delivered at the IMCA Consultants Conference on March 3, 2004. If you ever wanted to make a name for yourself and show yourself as different and better — this is how you do it. But beware — it's only for the top tier of advisors!
Last month, I showed you the "Hierarchy of Marketing" model. This model shows you explicitly the level of sophistication in the different categories of marketing options.
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To distinguish yourself in your chosen market, just aim higher than your competitors do. If your competitors are doing direct mail, do a "killer" newsletter. If your competitors use fancy company brochures, step up and use a credibility-focused brochure.
| Beware, the higher you go, the more coaching and self development are required. If you're not congruent at higher levels, you could show yourself in a "less than desired" light. |
See the line in the middle of the "Hierarchy of Marketing" model? That is called the "Line of Distinction." Operating above that line represents a serious departure from what the vast majority of advisors do in their marketing. Last month, I also showed you several examples of what Credibility Marketing looks like. This month, I'm explaining how to attract people to you and begin to become magnetic.
Magnetic Marketing Elements:
Above that line is where you find Magnetic Marketing. One of the things that makes Magnetic Marketing work is that it does not talk about the things the other advisors believe are necessary: Tools, Tactics or Strategies. Magnetic Marketing also does not focus on you. It focuses on the client — the A-level client that you define.
When you go above the line of distinction, you start to focus primarily on your clients' Goals and Visions. You begin to help the client define and articulate his or her identity, beliefs, principles and values. You begin to help the client use those things to paint a clear picture of his or her ideal future. You introduce the idea of using assets to create something that transcends the end of that person's life, rather than merely plug a temporary hole.
The job of Magnetic Marketing is to give the client an opportunity to go inside himself and discover what he has never before noticed. The job of Magnetic Marketing is to provide you with an opportunity to stake your claim to the psychological geography of your clients' future. Thus, a Magnetic Marketing communication should contain self-exploratory tools. For example:
- The Values Survey gives the client an easy, non-invasive way to begin understanding her values, and put them in order. You can do this on your own. Just start listing every value you can think of. We've identified about 159 of them.
- The Money-Beliefs Survey allows the client to explore what she believes about money. For some people this is a shocking discovery. Some find out that they resent money. Others find out that they fear it. Would that information be of value to you in your work for those people? Would you become invaluable by helping those people develop healthier money beliefs?
- Life-defining Questions. This is taken directly from our coaching sessions. Of course, just about any other coach will have questions and tools that help you define your life. Our little tool simply asks the client to look at what she truly wants, but from a different perspective. For example: "What do you secretly dream of doing?" "What would you do differently if time were not a limiting factor?" As the advisor, you can help her begin to realize hopes and dreams. Do you think that could result in some referrals?
The 3 levels of Credibility-focused Magnetic Marketing
Level I. Elevator Statement
No other tool in your possession will be used so often and produce so many fabulous benefits. But you'll never gain those benefits until you get an Elevator Statement.
You probably know this as the answer to the "What do you do?" question. In our workshops, I ask each person to stand and deliver that little statement. Amazingly, very few people have taken the time to develop an answer. Of the ones who have developed an answer, nearly all of them give virtually the same answer, "I help my clients make smart decisions about money." "I help my clients secure their retirement years." As if all people thought about was money. In the hundreds of statements I've heard, not a single one has had any impact. And, not a single person has believed in any of the statements.
I believe most advisors misunderstand the purpose of an Elevator Statement. First, it's not a "Sales Pitch." It's an "Identity Statement." That's significant, because if you deliver a sales pitch when someone is just trying to make conversation, you'll find yourself talking to yourself.
In order for your answer to work — and to be Magnetic — it has to be directly linked to your own highest values, beliefs and identity. And, when you deliver it, your face should light up. If you've ever called my office and talked with me about the work I do, you have probably heard the excitement in my voice. Sometimes, I get so excited, I actually get the shivers. Imagine calling Tony Robbins or Brian Tracy on the phone. Think they sound excited about what they do? How do people perceive you? Do they say to themselves, "Nice guy, but he's bored with his job?"
If your Elevator Statement is not based on what you believe in, it will sound dull and you will look boring. So, your Elevator Statement must contain elements of your values, beliefs and identity. Who wants to talk with someone who is boring? So, your job is to gain permission to continue the conversation.
Here are a couple of short ones that could easily gain you permission to continue:
- "What if you had an emergency and needed someone to watch out for your children and your home. That's me. I help families watch out for the things that are dearest to them. So, what is something important to you?"
- "Consider me a guide. I help people like you define what you want most in life and don't yet have. Then, I do what it takes to help you get it. The result is usually like finding an undiscovered tropical island. You get a new lease on life — the one that's in your dreams. Take you for example, if you had all the time in the world, what would you like to do that you aren't doing now?"
- "Picture the Rocky Mountains. Imagine that's you. You're living the life you love and you're confident that your future is secure. That's what I help people achieve for themselves. What's your big dream?"
Besides helping you have an answer ready when people inquire about your job, one of the biggest benefits of preparing your own Elevator Statement is that it gives you an opportunity to explore the person you've become. Is it someone you like? Is it someone your next client will like and trust? What if it isn't? This is the perfect time to find out and explore options and the procedures for becoming who you think you want to be.
MICHAEL LOVAS is the author of ten books, three columns, and a thousand articles on Professional Credibility and the Psychology of Communication in the financial industry. He's the co-founder of AboutPeople and the founder of Credibility Marketing.
Michael speaks at conferences and seminars in Canada and the US. He is an inspiring trainer and coach who helps advisors improve their businesses. He holds three prestigious certifications: Licensed Master Practitioner of Neuro-linguistic Programming (NLP), Licensed Trainer of NLP; and Clinical Hypnotherapist. They make Michael an expert at helping financial professionals succeed at a higher level by building more meaningful business relationships.
AboutPeople Books:
- (NEW) Questions Are the Answer! - A guide for using questions effectively in sales conversations
- (NEW) Axis of Influence! - How credibility & likeability intersect to drive success!
- (NEW) Words that Sell - The language of psychological marketing & selling
- Face Values - How to read people and connect with them in less than 3 minutes!
- The Boomer Report - The financial advisor's guide to understanding the boomer mind
- Presentation Magic - How to gain a psychological advantage in your seminars and sales presentations
- The 5 Levels of Rapport - How to create a meaningful connection with people who are important to you
- Magnetic Connections - Consultative selling for financial professionals
- IDENTITY - How to create and deliver the most important statement of your business life
- Inside the Mind of the Senior Market
- Beyond Wave Marketing - How to add credibility to your relationship marketing
Find AboutPeople books at: www.aboutpeople.com
Michael Lovas, C.Ht.
AboutPeople
(509) 465-5599
1503 E. Riverview Dr.
Colbert, WA 99005
www.aboutpeople.com
