Selling is making people want what you have; marketing is having what the client wants. That was said by Buck Rogers many years ago in The IBM Way. He's right! Marketing is really about creating clients. In his book, Buck Rogers talks about a woman with scraggly hair who wants a halo of ringlets. She wants the halo of ringlets, not the process. Whether she uses a chemical process, rollers or goes to a hairdresser - that's irrelevant. She simply wants a halo of ringlets.
Well, that's our business. Clients want to retire comfortably; they want to educate their kids; they want to pay their taxes, regardless of the process. So, don't think you're out there selling product. Clients can look at Money Magazine for whateverMoney Magazine costs and learn all about products. Anybody can pick up a phone and call a no-load company. "Call Chuck" any time you want - that's what the ads say. You say to these people, "If all you want to do is buy a mutual fund, call Chuck. You can save a ton of money in commissions. If you want to educate your kids and retire comfortably, have a seat. That's what I'm all about." Now, you're marketing yourself!
Put the Client Before Yourself
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If someone needs something, get it.
When you talk with prospective and current clients are you consistenly talking about product features, risk factors, beta and performance? Instead, make it a goal to perfect your presentation to say things like, "Mr. or Ms. Client, I think this allocation (or this investment) is ideal for you. Given your goals to ___________ or __________ I have great confidence in these money managers to get you where you want to be within the time frame we discussed. While we will continually assess the markets and the manager’s performance, I'm sure we’ll be making some changes along the way. However given where we are today I think this is the best solution for your goals.”