As many of you are aware, we are hosting a free webinar at noon (central time) on Wednesday, March 25, "Marketing Estate Planning Services to Women." (To join the webinar, register here: https://www2.gotomeeting.com/register/789937671)
We have heard from many of you who are anxious to implement these marketing strategies into your offices, but I have noted a disturbing, and unnecessary road block that some are putting in their own way. I have received many comments from attorneys who would like to market their services to women, but they are holding back because they think they need to find a financial advisor with whom to do this. They are worried about which financial advisor to approach, whether the financial advisor's compliance department will sign off, etc.. Meanwhile, precious time is slipping away. It does take time to successfully implement a campaign of this nature, and Mother's Day is only eight weeks away!
Don't allow this issue about joint-marketing with a financial advisor to keep you from moving forward on a strategy that will build your own business.
This is a new day, a new economy, and for many of you, a new marketing strategy.
YOU DO NOT NEED A FINANCIAL ADVISOR TO MARKET THIS PROGRAM WITH OR FOR YOU!
While building referral relationships is one strategy for practice development, it is not the only strategy. The time has come to move beyond that one-horse concept to a more comprehensive one. Consider this: the financial services industry has taken a HUGE hit in terms of credibility, trust and performance. This might, in fact, be a good time to distance (and distinguish) yourself from the financial services industry. Especially if you want to reach women -- for whom trust, communication and customer service are the highest priorities, and among whom financial advisors rate very low on all of the above.
Older women, those around age 50, are the "sweet spot" for marketing estate planning services. They are the "sandwich" generation -- they have come into their own, so to speak. They have wisdom, knowledge and experience. They have their own wealth, their own businesses, and they are frequently also responsible for their parents, involved in the lives of their children, and looking toward a future for their grandchildren. Win her heart, and you have won access to four generations and the oppportunity to manage generational wealth transfer.
Messages that resonate with women in this category revolve around wellness, being fit & active, being financially savvy and responsible, and nurturing relationships. These women are keenly interested in maintaining independence, choice, dignity and preserving wealth for themselves and their families. They are responsible for helping their parents do the same, and often need help in getting that message across to the "older" generation. They are determined not to persist in the "no money talk" that they grew up with, and want to be sure their adult children are well-informed. Our Mother's Day marketing campaign taps into this knowledge, focuses on this woman, and invites her to bring her mother, daughter, niece or girlfriend to this social event. We encourage you to select the venue wisely and to partner with others who are already targeting this audience, such as upscale retailers, health clubs, spas, salons, and travel agencies. Bringing in a few "goodies," such as free chair massage or samples of moisturizer, etc., would make the event more fun.
Banks are another excellent partnership opportunity. As a former trust marketing officer for a bank holding company, I can attest that our Mother's Day Tea campaign was one of the most successful campaigns we ever launched. We held one for each of our branches; they were popular, fun, and well-attended. Kyle Krull was our attorney partner at the time, and he also can attest that the program was extremely successful for his practice.
This is one time that you truly do not have to partner with a financial advisor. We will partner with you to target your mailing lists, give you professional design, handle your mailings and even ensure prompt follow-up. All at a very reasonable cost that should ensure a substantial return on your investment.
I know that many of you are bringing financial advisors with you to Wednesday's webinar, so this is not an issue I will bring up at that time. If you choose to partner with a financial advisor for this campaign, we will show you how to make that a successful partnership as well. I just wanted to take a few moments here, on this listserv, to hopefully get you to thinking outside of what I believe has become an outdated box, given the current public sentiment toward the financial industry.
