Thursday, November 20, 2008

Four Lessons From The IFB 2008 Fall Summit

You can observe a lot by watching.

--- Yogi Berra

I attended portions of the Fall 2008 Summit from the Independent Financial Brokers (IFB) on November 4-5. By watching the presenters, I spotted four ways to improve our marketing and presentations.
  1. use subtle self-promotion
  2. have handouts
  3. stand apart
  4. write a book
Use Subtle Self-Promotion
Each presenter was introduced, which is courteous. Then bios were read, which is boring. Many presenters praised themselves, which is blatantly self-serving. You can't boast about yourself. Being part of a team helps because members can build up their colleagues. If you're solo, compelling content with a captivating delivery will make you memorable. The keynote speakers who started and ended the conference used this technique.

Since your attendees can read, why not rely on a printed biography instead? Interested attendees can find out more if you make an impression. This was done at the CALU Associates meeting two days later on Nov 7th

Have Handouts
Very few sessions had meaningful handouts. This continues to puzzle me because giving creates a positive impression and invokes the first universal principle of influence: reciprocity.

When handouts are used, the content is often too small --- three PowerPoint slides on a page with lines for writing at the side. We're aging and some rooms have dimmed lighting. Two slides per page works better. Recently, I've switched to 
  • one slide per page for readability 
  • printing on both sides to save paper
  • premium paper for quality
  • three-hole punched for insertion into binders
  • colour for impact
These handouts go into nice folders, stand out and seem to get kept. Well worth the extra cost. 

Stand Apart
Branding gurus and personal coaches tell us we must be different in a memorable way. How odd to see these experts touting similar, overlapping messages. They did not stand out in the sea of sameness. 

It helps to be where your competitors aren't. At a different conference, I sat with attendees at a table. I looked like an invited guest, not an annoying pest. This lead to better, longer conversations in a nicer environment. 

Write A Book
Several presenters wrote books. This is no longer seems to be a point of differentiation since you can self-publish. None of the titles were best sellers. I've read a couple in the past and haven't been impressed with the content. You can buy a book from an international thought leader like Seth Godin instead.

Writing helps you think better, which is very valuable. Putting meaningful ideas into a free ebook could be useful in marketing since advisors don't generally do this. 

Tuesday, October 28, 2008

Three Secrets of Presenters: Repetition, Illusion and Self-promotion

Last week, I saw two professional presenters I saw last year last year: Wayne Cotton and Anthony Morris. They're both entertaining, knowledgable and experienced. That's why I wanted to see them again.

I unlocked three secrets:
  1. Repeat What Works
  2. Fake Uniqueness
  3. Promote Yourself
Luckily, we can easily apply these techniques.

Repeat What Works
The topics Wayne and Anthony presented this year were essentially the same as what I'd already seen. Even though the descriptions looked different. Others who saw them before made the same comments. Yet the attendees accepted the reruns. This shows that the importance of the delivery, entertainment, and how little we remember. 

Thinking  back, I've seen Stephen Covey live several times. Each time, there was plenty of overlap in the content. Some of the same videos were replayed (e.g., Max and Max, Stone).

Earl Nightingale said that if you asked him to speak, you got his choice of topic. Maybe that happens with professional presenters. They choose or influence the topic. Or they tailor a standard presentation slightly. Why not? Once honed, why tinker drastically with a presentation that works?

Fake Uniqueness
Presenters make ideas seem unique when they really aren't. Yes, there are differences but the general ideas are similar. Think of alternatives to cold calling: Precision Marketing (Wayne Cotton), Magnetic Marketing (Dan Kennedy), Guerilla Marketing (Jay Levinson), Permission Marketing (Seth Godin), attraction marketing, pull marketing, laser marketing. These different systems achieve similar results: appealing to the right clients and repelling the wrong ones. So does viral marketing (what Seth Godin calls "sneezing" an ideavirus).

Trademark your approach and you've got something that looks unique but isn't entirely. We can do the same. For example, the Financial TRAIL to taming your financial risks starts with Trust and uses experts in Risk, Accounting, Investment and Law (TRAIL). Using a team of specialists to help a client with their financial risks is hardly unique, but this particular description is.

Promote Yourself
A top advisor sells in this order
  1. Sell yourself
  2. Sell your company
  3. Sell your product/service
  4. Sell your price
A mediocre advisor does the opposite, selling price first and themselves last. I can't remember the original source. Probably someone like Brian Tracy. 

The presenters I saw sold themselves first. Through their introductions, examples and stories. You felt they were different and you would benefit from their approaches ... even if delivered by others in their organizations. We can too.

Links

Monday, October 20, 2008

Three Lessons | Eight Cities | One Presentation

My eight city roadshow ended last week. Maybe you attended? I was helping advisors across Ontario learn more about "10-8" financial leveraging. Now I can look back and share three lessons with you.

  1. Online registration rules
  2. Expect the unexpected
  3. Attendance varies
Online Registration Rules
You may recall that I never organized a roadshow before and worried about low attendance and that online registration could flop.
I have known a great many troubles, but most of them never happened. --- Mark Twain
Many more registered than expected and 64% attended.

Over 94% of attendees registered online, rather than by fax or phone. Last week at home, we received three invitations to seminars that advisors are hosting to attract new clients. They all rely on registration by phone. Why don't you let your clients register online too? Online tools like EventBrite make this professional and painless.

Here are the advantages
  • convenient for registrants
  • instant confirmation by email (which confirms that the email addresses are valid)
  • instant database and reminder emails and followup
  • scalable for larger events and multiple locations
Expect The Unexpected
When will Murphy retire? Many little things went wrong. A colleague arrived early and had many of the shortcomings fixed before I arrived. Here are examples
  • screen in a corner rather than at front in the middle
  • table too small to hold both a projector and computer
  • noise from outside the room
  • no soap in the washroom
  • change in rooms (not even the front desk knew)
Inconsistent Attendance
In Toronto and Barrie, attendees arrived early and sessions started ahead of schedule. In London and Windsor, last minute registrants attended. In Ottawa and Markham, less than half the registrants showed up but that allowed more interaction and discussions.

Overall, the tour got results. Lots of requests for followup. No time for even a short break.

Links

Monday, October 6, 2008

How To Reassure Your Nervous Clients

This is Captain America calling.
I bailed you out when you were down on your knees
So will you catch me now I'm falling
--- The Kinks, Catch Me Now I'm Falling

I continue to ignore the daily mass media and live a low noise life. Even so, bad news seeps in. I keep getting reassuring emails from one of my two Investment Advisors. The other is completely silent, which is worse.

Life insurance clients are getting jittery too. What can you tell them?

Calming Your Clients
I remember, when you were down
And you needed a helping hand.
I came to feed you
But now that I need you
You won't give me a second glance.
--- The Kinks, Catch Me Now I'm Falling
To help you calm insurance clients, I wrote three articles for Riscario Insider about:
  1. what happens if a life insurer collapses: in response to emails from worried readers
  2. corporate governance (Globe & Mail)
  3. the largest insurers (Financial Post 500)
Feel free to use the content. The last two articles have tables that enlarge when you click on them.

The Term vs Perm Battle Continues
Have you been following the debate on Does Warren Buffett "Buy Term and Invest The Difference"? It remains my most popular post ever and shows the power of a good headline. The newest comments have Invest-The-Difference crowd more silent than usual.

Links

Thursday, September 18, 2008

Get Discovered While Slacking Off

I wanted you.
And I was looking for you.
But I couldn't find you.
-- Laura Anderson,
Walking And Falling


Another place without a bath robe? Maybe I should bring my own. Unlike last week's packing disaster, I'm prepared. I remembered everything. Well almost. I meant to bring walking shoes. 

Less Posts Without Less Readers
Because I've been on the road, I've fallen behind in my blog posts. Here's the puzzle. Readership has stayed steady even without new content. That's good. Relatively more readers -- 77.22% -- found articles via search engines. Here are the top 5 search terms this week:
  1. influential words
  2. marketing actuary
  3. communication jokes [?!?]
  4. actuary linkedin
  5. most influential words
Surprisingly, readers who explored the deepest used keywords "milevski CALU 2008" (see CALU 2008 - Sharing The Wisdom). If you take a look, you'll see I only mention Moshe Milevsky as one of the best speakers (winning my coveted Most Actuarial Presenter award). Even so, those visitors stayed here 9:33 minutes on average and explored 14 pages. Maybe they've become regular readers.

Here's the lesson. If you're online, you're accessible all the time. Old articles get rediscovered. You leverage both your time and your old work. People can find you. Doesn't familiarity breed business?

Update on LinkedIn
A meaningful profile on LinkedIn can help you get found (see Get Foundin Linkedin To Keep Growin). My network has grown and I'm showing up in over 5 searches a day. Here are the latest statistics
  • 41 connections (was 10)
  • 14,700 friends of friends (was 180)
  • network of 2.2 million (was 18,200; may be useful for direct marketing)
You can achieve results like these and increase your revenue --- even while you're far from home. A bathrobe is optional.

Wednesday, September 10, 2008

$499/Night But No Bath Robe

Do you remember the first time you stayed at a hotel with bath robes? Even if you wouldn't wear a bath robe at home, you put it on to enjoy the thick, comfortable warmth. Getting hot? Rather than taking off the robe, you lower the temperature. 


At some point, you put your hand in a pocket and pull out a card which says the robe isn't yours to take and if you do, you'll be charged. Really? Luckily, the towels have no such warning. So you stuff them in your suitcase. You like the desk lamp but fearing damage in transit, you leave it behind.

My hotel room doesn't have bath robes. I need one. I packed badly for this overnight trip. I forgot essentials from my travel checklist. Last night, I packed the following
  • dress shirt
  • tie
  • dress socks
  • shaver
This morning, I thought my luggage was too empty. What's missing? I know. My toiletries bag. I check that the toothbrush and toothpaste are inside. They are. I wear my suit and leave on my trip.

The day's meetings went well. I'm now in my hotel room, ready to change into my casual clothes. But I forgot to bring them. My pyjamas are at home too. Here's all my clean clothing
  • underwear
  • socks
  • tie
Wonderful. That's why I need a bath robe. Luckily, no one will see my predicament. Unless the fire alarm rings overnight ...

Tuesday, August 26, 2008

Learning The Language Of Investment Advisors

I said, do you speak-a my language?
He just smiled and gave me a vegemite sandwich.
--- Men At Work,
Down Under

How do you get investment-oriented advisors interested in life insurance? This is a great question if you're an insurance specialist. A 15 month experiment gave an answer.

An organization wanted to help their investment advisors incorporate life insurance into their business processes. Intrigued, I volunteered to help them for free.

Getting Started
I started with group meetings, showing how life insurance was used according industry research. Most strategies are simple, solid and change little over the years. This meant a small learning curve. I showed sample compensation for different ages, face amounts and deposits. I figured compensation would drive interest.

Next, I privately met interested advisors to understand their unique goals and concerns. Then I tailored confidential, individual strategies. Finally, I started visiting regularly, generally once or twice a week. I even got a nice large office with a nice view.

Long Lineups
I figured advisors would line up outside my door, clamoring for advice. Wrong! Advisors did visit --- then again, I was on the route to the espresso machine. This didn't lead to sales, though. I quickly learned that even volunteers need to actively market their services. I turned to blogging as a low key way to stay in touch.

Even so, cases were relatively small and infrequent. What could I do? I didn't want to play Solitaire.

One Day
During construction for expansion, the boardroom table was moved to an open area near my office. One day, the table was packed for a presentation about an esoteric investment product. I observed the investment advisors undetected. I heard numerous questions. I saw enthusiasm. The advisors were animated and captivated. Why?

The Spark
A different language is a different vision of life. --- Federico Fellini
I instantly realized that we spoke different languages. They spoke investoid and I spoke insuranch. While life insurance allows tax-sheltered growth, investment advisors

  • don't like the limited investment choices
  • don't like investment dollars going "off book" into life insurance

I knew the solution. Investment advisors have clients who are active investors, comfortable with financial leveraging and looking for tax deductions. That's what "10-8" leveraging by squeezing more benefits from the client's existing investment dollars.

Investment advisors get three three important benefits:

  1. continuing to make the investment decisions
  2. assets stay "on book"
  3. revenue increases

This appealing combination grew sales to record levels. The experiment ended in success.

Links