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Financial Advisers Harness the Power of Word of Mouth

by David Maida

Financial advisers know that overcoming trust and fear issues with prospective clients is critical in developing a strong relationship. Referrals have long been a great source of new clients because someone has already spoken highly of you. But written testimonials in the form of case studies can describe the experiences of existing clients and help break the ice. Don’t just rely on word of mouth to motivate potential clients to come to you.

Case studies on an adviser’s website can be more powerful than any other marketing material you have because it’s from a customer’s perspective. This sort of third party endorsement can be almost as effective as a direct referral. Case studies are not about returns on particular investments but are about the advice experience you provide. Most New Zealanders have never received financial advice and we know what an uncomfortable and intimidating process it can be to start. Case studies reveal what it is like to work with an adviser and demystify the whole proposition.

Benefits include:

  • Giving potential clients a good idea about what financial advice is
  • Illustrating the process of what is involved in obtaining financial advice
  • Showing the benefits in having financial affairs sorted
  • Hearing about the benefits of your advice from someone other than yourself
  • Putting a name to someone who has used and appreciated your advice
  • Laying some groundwork to help you build a successful long-term relationship
  • Taking away some of the fear and apprehension of seeking financial advice

Advisers know their clients inside and out and have developed very sincere bonds with them. This relationship-based type of business is quite unique with many interesting stories to be told. A prospective client will be more comfortable and willing to accept advice if they know something about what’s involved in the process.

Getting started
An independent business journalist can capture what it’s like to engage with a financial adviser and plan out a successful financial future. Your most loyal and long-serving clients can tell some of the most important stories about how you have helped them. Clients who have provided you with referrals will make the best case studies because they are already talking about the benefits you offer. You can reassure them that they will be able to see the copy before it is published which should put them at ease. After a short 15 to 20 minute telephone conversation, I will write up a professional and accurate case study for your website or other marketing collateral which will last for years to come.

The results
I’ve been writing in the financial services sector since 2008 and will discuss your client’s experiences in an educated and professional manner. Whether you’re helping someone manage debt or multiple millions in investments, I can pinpoint the value-add that you provide and illustrate it to your prospective clients. Case studies on websites are more and more prevalent because people now expect to be able to hear from the end user of a product or service. Case studies provide feedback about you and your service which potential clients would not be able to obtain otherwise.