Fastest-Growing Advisors Contact Clients More Frequently

New research from The Financial Awareness Foundation’s (TFAF’s) Wealth Advisor Confidence Survey™ confirms that it pays to reach out and touch people. According to TFAF, higher performing advisors are more likely than other advisors to contact clients more than once per month. For example, nearly three in five firms (58%) expecting double-digit growth in 2019 contacted clients 2 or more times per month. By contrast just under half of firms (49%) expecting single digit growth in 2019, contacted clients more than once per month.

Is that too often? Not if what you’re sending is relevant, valuable and professionally produced.
As shown below, firms that contact clients with higher frequency have the ability to produce thoughtful content that requires a little more thought than a simple tweet, post or like:


            Communication Channels Rated “Very” or “Highly” Effective

	Contact Clients 1x or less per month	Contact Clients 2x or more per month	Variance
Public speaking	65%	83%	+18%
Writing articles for publication	57%	64%	+7%
Writing books/eBooks	50%	56%	+6%
Get quoted in the press	48%	52%	+4%
Blogging	32%	48%	+16%
Publishing articles via LinkedIn	22%	40%	+18%

Sources: The Financial Awareness Foundation; HB Publishing & Marketing Company, LLC, 2018

As shown below, firms that contact clients with higher frequency are also more likely to find value in social media—but not at the same level as more conventional thought leadership tactics cited above.

Social Media Channels Rated “Very” or “Highly” Effective

	Contact Clients 1x or less per month	Contact Clients 2x or more per month	Variance
Facebook	7%	21%	+14%
Twitter	7%	16%	+9%
Instagram, Snapchat	5%	12%	+7%

Sources: The Financial Awareness Foundation; HB Publishing & Marketing Company, LLC, 2018

The findings are even more striking when looking at the projected financial performance of responding advisors. Firms that expected to finish 2018 with double-digit growth were 1.5 times more likely than less optimistic firms to consider Public Speaking, Publishing Articles and Media Coverage “very” or “extremely” useful (see chart).

TFAF’s annual survey of financial advisor concerns and challenges, conducted in association with HB Publishing & Marketing Company, LLC. asked respondents to rate nearly two-dozen thought leadership tactics. Those in the table above were the ones most frequently cited by advisors as being “very” or “extremely” valuable.

Conclusion

We may live in an instant gratification society, but when it comes to resonating with clients, prospects and influencers, research shows you’ll have to hit the neural gym and do some mental heavy lifting. There are no shortcuts, but it doesn’t have to be drudgery. We’re happy to talk to you any time if you’d like some suggested workouts for maximizing your thought leadership gains when you have limited time. You might even find those exercises fun.

There’s much more to this survey.  Check out some of the other highlights here.

#Content marketing, #thought leadership, #wealth advisors, #The Financial Awareness Foundation, #Wealth Advisor Confidence Survey

Fastest Growing Advisors Bullish on Thought Leadership

As discussed in my last post, social media is fine for advisors. But, research from The Financial Awareness Foundation’s (TFAF’s) Wealth Advisor Confidence Survey™ confirms that financial advisors find significantly more value in thought leadership tactics that showcase their ability to speak, present, write and charm the press.

The findings are even more striking when looking at the projected financial performance of responding advisors. Firms that expected to finish 2018 with double-digit growth were 1.5 times more likely than less optimistic firms to consider Public Speaking, Publishing Articles and Media Coverage “very” or “extremely” useful (see chart above). 

Unlike firms expecting modest or flat growth in 2018, firms projecting double-digit growth this year were also more likely to find high value in blogging, authoring books and e-books, publishing on LinkedIn, holding client events and producing videos.

TFAF’s annual survey of financial advisor concerns and challenges, conducted in association with HB Publishing & Marketing Company, LLC. asked respondents to rate nearly two-dozen thought leadership tactics. Those in the table above were the ones most frequently cited by advisors as being “very” or “extremely” valuable. In my next post we’ll see how webinars, Facebook, Tweeting, Instagram and other social channels fared—particularly among advisors who were expecting double digit growth in 2018.

Conclusion

We may live in an instant gratification society, but when it comes to resonating with clients, prospects and influencers, research shows you’ll have to hit the neural gym and do some mental heavy lifting. There are no shortcuts, but it doesn’t have to be drudgery. We’re happy to talk to you any time if you’d like some suggested workouts for maximizing your thought leadership gains when you have limited time. You might even find those exercises fun.

There’s much more to this survey.  Check out some of the other highlights here.

You Are What You Write

Don’t let the keyboard get in your way.

With summer approaching and tax season behind us, this is the time of year when many of you start to catch your breath and think about FINALLY sitting down to pen your memoirs or write a thought leadership book (or eBook).

Great goal, but like New Year’s resolutions, more easily said than done.

Nevertheless, we’re all for it since studies have shown that writing about oneself and personal experiences can improve mood disorders, help reduce symptoms among cancer patients, improve a person’s health after a heart attack, reduce doctor visits and even boost memory. Just don’t let the writing process get in the way of your writing.

Earlier this week, The New York Times republished  Tara Parker-Pope’s 2015 column, Writing Your Way to Happiness.  “The concept is based on the idea that we all have a personal narrative that shapes our view of the world and ourselves. But sometimes our inner voice doesn’t get it completely right,” wrote Pope. She added that some researchers believe writing and editing your own stories can change your perceptions about yourself and identify obstacles that stand in the way of better health.

Our Take: The writing, editing and introspection process is highly valuable. But most people—even experienced journalists and authors—need a coach, confidant or editor to push them along, help them separate the wheat from the chaff and get their inner voice out.

Think of your editor or writing coach as a trusted advisor who can provide you with a “second opinion” about your inner thoughts.

Also, don’t let the keyboard get in the way of clarifying your own thoughts and sharing them with your audience. Just tell a story by using any “thought-capturing” means you prefer.

Some of you are more comfortable with a legal pad and a pencil than a computer, and prefer to “write” on a favorite deck chair than at your desk. Others are more comfortable dictating into a voice recorder while stuck in traffic. Some of you are great presenters, but freeze up at the site of a blank computer screen. If so, try recording yourself on video, or having a colleague or close family member record you.

We’ve used all of the above techniques and more to help our clients clarify and codify their thoughts into the written word.

The key is to tell your story in your natural voice so your passion and energy for your subject—even if the subject is yourself—comes through loud and clear.

Most of you are established professionals who have a personal story—and business philosophy—that’s a lot more interesting than you give yourself credit for. But if you don’t sound like you believe your own story when you tell it, then how do you expect your readers and followers to buy it?

I’d love to tell you we have “6 Easy Steps” or a proprietary magic formula for making your writing better. We don’t. The writing process isn’t easy and don’t believe anyone who tells you it is. More often than not it’s a battle between you and your subconscious. To win that battle you have to be brutally honest with yourself and must have some trusted lieutenants on your side.

Conclusion

As French philosopher Voltaire famously said, “Don’t let perfection be the enemy of good.” In other words, be yourself and the words will eventually come. Just be prepared to revise, revise and revise.

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TAGS: Voltaire, Memoirs, Don’t let perfection be the enemy of good, health benefits of writing, Tara Parker-Pope, thought leadership

It’s Great You’re Blogging—Are You Blogging Efficiently?

Many of you are now publishing blogs. That’s great because blogging—if done well—is one of the most impactful thought leadership tools that professionals and businesses can use. According to the 2016 Blogger Research Study from Orbit Media Studios, the typical blogger publishes several posts per week with a typical post averaging 800 words in length. Bloggers write both in the office and at home after work. According to researchers, a typical blog post takes about 2.5 hours to create, with 46 percent of bloggers spending more than two hours per post and only one in six (17.4%) getting their posts done in one hour or less.  

Our Take? 150 minutes is WAY too long to be spending on a short-form post and if you’re running 800 to 1,000 words, you might be spending too much time “clearing your throat” and struggling to get to the point. If you’re not getting your posts done in roughly 60 minutes and getting your thoughts together in 500-600 words, then maybe you should review your thought processes or your internal bench strength.

Three in five bloggers (61%) are writing posts averaging 500 to 1000 words, which according to researchers makes 800 words “seem like an unstated, but agreed-upon standard length for blog posts.” Again, we’ve found you are better off writing on the briefer end of that 500-1,000 word scale.

Length Of A Typical Blog Post
Length of Post	% of Respondents
Less than 500 words	20.8
500-1,000 words	61.3
1,000-1,500	13
1,500-2,000	3.5
2,000+ words	1.4
Source: Orbitmedia, November 2016

How long it takes to write a typical blog post?

Time to Write	% of Respondents
Less than 1 hour	17.4%
1-2 hours	36.7
2-3	19.7
3-4	13.2
4-6	7.4
6+ hours	5.5
Source: Orbitmedia, November 2016

Part of the reason that blogs are taking many so long to write is that three in four bloggers (73%) act as their own editors, according to the Orbitmedia survey. Only 15 percent of bloggers use a formal editorial process. Nine in ten (90.6%) survey respondents said they either edit their own work or use an informal process. What’s more, researchers found that most blog posts have never been seen by anyone but the author before they go live. Ouch!

Bloggers Use Of Editors
Use Of Editor	% of Respondents
Edit own work	72.9%
“Show it to a person or two”	29.8
Formal editor	11.8
More than one editor	2.8
Source: Orbitmedia, November 2016

Researchers also found that social media is by far the most common promotion tactic, typically used by 94 percent of bloggers since it’s fast and easy for most bloggers. The Orbit folks also note that best practices for SEO are so well known that most bloggers now produce search optimized content, adding that only 5 percent of bloggers are paying to drive traffic to their posts.

How Bloggers Are Driving Traffic To Their Posts
Traffic Acquisition	% of Respondents
Social media marketing	94%
Search engine optimization	50.8
Email marketing	34.5
Influencer outreach	15.1
Paid services	4.5
Source: Orbitmedia, November 2016

Our own blog has more as does the FREE Resources page of our website.

Conclusion

Credit: The New York Times

On a personal note, I wanted to mention the recent passing of John Glenn, American astronaut, U.S. senator and all-around hero who died on Thursday at the age of 95. I never met Glenn personally, flew or served in the military, but I have long since felt a special affinity for Glenn. Here is an iconic photo from the New York Times on the day after I was born, March 1, 1962. You see Glenn, the first American astronaut to orbit the earth 9 days earlier—basking in the glow of the first of his two Canyon of Heroes parades in New York City. I learned many years later that my parents almost gave me the first name of “John” or “Glenn” but that decision was later nixed for reasons to lengthy to discuss here. Now scroll down the page to the side by side photos of the front page of the Times on 3/2/62.

For most Americans, Glenn’s ticker tape parade overshadowed an unfolding tragedy just 16 miles away in what is now known as JFK International Airport. That same morning (March 1, 1962), American Airlines Flight 1 crashed in Jamaica Bay, killing all 87 passengers and eight crew members. It was the deadliest commercial airline crash in United States history at that point.

As so often happens in life, exhilarating highs are mixed with agonizing lows. Give The Times credit for devoting equal space to both stories in 1962—in today’s media environment by contrast, that ratio would probably have been 90 percent tragedy/10 percent celebration. I’m sure many miss those days.

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Tags: Blogging, thought leadership, John Glenn, Orbit Media Studios, blog length

So You Think You Know LinkedIn?

Whether you’re a sole practitioner or a partner in a global firm, it’s no secret that your online presence matters more than ever today. And since most of you are experienced professionals, nowhere else does your online presence matter more than LinkedIn. It’s not just for job seekers and recruiters.

According to Sandra Long, a longtime Pitney Bowes executive and now a trainer, entrepreneur and author of the new book, LinkedIn for Personal Branding: The Ultimate Guide, many professionals make the common mistakes of:

• Taking a set-it and forget-it approach to their LinkedIn profiles.
• Having too many endorsements for their less-than-core skills.
• Listing their job title at the top of their profile rather their personal brand and unique value proposition.
• Not synching their personal brand with their firm’s or company’s brand.
• Not having a professional headshot—“If you don’t have a headshot, you’re not in the game.”
• Listing every single job and responsibility they’ve had during their career, rather than “weaving together common themes.”
• Repurposing their resume online rather than being a “story teller.”

I spoke with Long after her presentation last week at the Fairfield County, CT chapter of the American Marketing Association. She told me that for experienced professionals, one of the most important things you can use the platform for is establishing yourself as a thought leader. Sharing content, uploading presentations to Slideshare (now owned by LinkedIn) and publishing articles and blog posts on LinkedIn’s new publishing tool will give you “very high authority” on Google and other search engines.

“Your business is all about your career, your brand and your network,” said Long. “The No. 1 activity on LinkedIn is look at profiles. Take the time to think about what’s unique about you professionally, personally and what makes you a thought leader.”

Long's book provides a comprehensive view of personal branding using LinkedIn's profile, content sharing, and thought leadership capabilities. Additionally, Long has assembled a useful set of "How To" advice links that are available on a companion website. The website provides many resource pages and links related to each chapter.

Our blog has more as well as the FREE Resources page of our website.

Conclusion

Many of you preach the importance of regularly updating your portfolio, estate plan, business plan and IT procedures. Those are not one-and-done exercises. Same goes for your online presence, particularly your LinkedIn profile (and your organization’s).

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Tags: LinkedIn tips, Sandra Long, LinkedIn for Personal Branding, Slideshare, thought leadership

HB Publishing eBook Authors Gain National Exposure (pre-publish)

As many of you know, we help wealth advisors, estate planners, CPAs and other professionals build their thought leadership status through a variety of channels, including eBooks. Sure, there is some blood, sweat and tears involved in the process, but you don’t have to wait until your book is completed to start building the buzz and reaping the benefits.

Today, Blake Christian, CPA, a tax partner of Long Beach, CA-based HCVT was featured in a US News & World Report story How to Create a Foolproof Withdrawal Plan for Retirement Assets. Earlier this month, another client was featured in a Yahoo Tech story about investing in the app market--also picked up in US News. Our outreach efforts to the national media are working, because journalists know that HB authors (a) know their stuff and (b) come to interviews well-prepared to deliver comments in a concise, media-friendly format. We’re not talking superficial soundbites, but economical, carefully crafted responses that invite future discussion.

Christian’s book, which is focused on helping professional service providers become more entrepreneurial without being reckless is due to be released in January 2017. Another of our clients, who prefers to remain anonymous due to her work with recent widows and divorcees, picked up at least one new client last year (before publication) with each new chapter she sent out to her trusted network for review.

Conclusion

As with investing, past performance does not guarantee future results. But by starting with your end goals in mind, you’ll significantly increase your chances of attracting the right kinds of clients and media exposure—and keep your supply closet free of boxes full of dusty, unread copies of your book.

Our blog and website has more.

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Don’t Fall into the Too Long, Didn’t Read Pile

We know this is when many of you are catching up on your weekend reading. You’re probably distracted by the NFL playoffs or having some fun on the slopes, at the pool, in the mall or at the museum. But we know you can’t help yourself from staying connected to the grid. You’re still doing your best to absorb the endless flood of information you feel you to process in order to keep pace with the rest of your world.

Here’s our advice: Stay connected, but be selective.

The great thing about today’s technology is that you can keep track of your messages, workflow, calendar, project plans and contacts just about anytime, anywhere on any device. The bad thing about today’s technology is that YOU’RE EXPECTED to keep track of your messages, workflow, calendar, project plans and contacts anytime, anywhere on any device.

Here’s another conundrum about the modern professional’s life. With today’s technology, anyone with an Internet connection can be a publisher or broadcast network with a worldwide audience. The BAD THING about today’s technology is that anyone with an Internet connection can be a publisher or broadcast network with a worldwide audience.

“There's too much noise, too much poorly written, overly written, defensively written and generally useless stuff cluttering your life,” futurist and blogger, Seth Godin posted this week. As a result, he said we have too much TLDR --"too long; didn't read."

As most of our clients know, you can’t be a thought influencer unless you share your insights regularly with a TARGETED audience that you’ve carefully built over your career. You respect them and they trust you. They’ll forgive the occasional typo, grammatical error or broken link. What they won’t forgive is anything that isn’t relevant, or get to the point ASAP. Sell your content we always say, but make sure you deliver what you’re promising in the headline and the subject line. And for goodness sake, respect how busy your followers are.

That’s why we’re such sticklers for Key Takeaways at the top of each story, post, article or video you create. Our blog has more as well as the FREE Resources page of our website.

Conclusion

There are many very smart, insightful people out there who are worth following….and worth having as followers. Why not be one of them? True thought leaders are consistent, disciplined and concise. They deliver on what they promise and return favors done unto to them. This hasn’t changed much over the past 2,000 years. We just have better, faster and more powerful tools for doing so.


Tags: Seth Godin, thought leadership, TLDR; tl;dr, importance of being relevant

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Like It or Not, You Need to Be a Writer

8  steps to better brainstorming in 30 minutes

To build credibility, professionals like yourselves should publishing articles (or shooting short videos) regularly on hot-button topics that are near and dear to your clients. OK. Writing’s not easy for many of us, but if you can stay focused and brainstorm the right way for just 30 minutes, you’ll be well on your way to being published. We have an 8-step process here that can really help you unlock your “Inner Writer.” We’ll get to those in a minute.

Establish Credibility

Establishing credibility with your clients, prospects and potential business partners is the most effective form of marketing you can do. We’re not talking about tweeting, tagging photos or “Liking” something on Facebook. We’re talking about building the kind of credibility that actually pulls prospects to you and makes them want to work with you—and recommend you to others.

Go Fast

Most financial, legal, accounting and insurance professionals are very smart people. Not many are professional writers. While you might not think twice about posting to social media, a blog, an online discussion forum, or a newspaper website, writing for publication—especially for your peers—can appear daunting. Sure, you can hire a freelance writer to help you. But the fact is, writing for publication isn't as challenging as you might think.

*** Click here for our 8 Steps to Better Brainstorming

Macro ViewAs expected, the financial markets have taken investors on a needless roller coaster ride this week, so ignore it and look at the (mostly positive) long term economic indicators that affect your business the most. The Commerce Department announced this week that businesses increased their orders in May for long-term manufactured goods. And for the third straight month, a special index of business investment plans rose—it’s a gauge that excludes the highly volatile transportation and military contracts sector. Need more? The widely cited Case-Shiller housing index showed a 12.1 percent gain over this time a year ago.

ConclusionCongrats. You may not be a professional writer (yet), but you’re using your writing to enhance your profession. You’re not only being published with byline attribution, but you’re driving qualified traffic to your website and LinkedIn profile. People are commenting, sharing and citing what you have to say. You’re getting more invitations to write, speak and teach than you ever thought possible. And best of all, you’re getting qualified client leads and referrals from other professionals.

More tips can be found on our blog and the FREE Resources page of our website.

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Tags: Brainstorming, credibility, writing for legal financial accounting professionals, thought leadership