There’s an interesting parallel between financial practices and football teams. Financial advisors are like quarterbacks. They call the plays and make the game happen. The best players have a team that works together to overcome their opponents and brings the ball into the endzone.
Yet there’s a hidden element that makes football teams even better.
Football players have coaches that help players improve their game and take their performance to the next level. Beyond their coaches on the sideline, players also have personal trainers and nutritionists. Players have all types of coaches working behind the scenes that meet regularly with them to ensure they bring their A-Game every day on the field.
Football players are not alone. Many of the world’s most elite athletes, corporate executives, and service professionals use coaches to hit their stride, reach their peak performance, and realize their full potential.
According to Francois Coetzee, businesses that use a coach see an 88% increase in their marketing success.
On top of that, The American Society of Training and Development ran a study about completing goals. They found that 65% of people are more likely to reach their goals when they commit to someone else, but that success increases to 95% when the person they’ve committed to holds ongoing meetings to check on progress.
That’s staggering!
The real question we should be asking is “Why aren’t more financial advisors using coaches?”
The answer may lie with time.
A major problem for financial advisors looking to grow their practices is that they don’t have the time to learn marketing. This was covered in a blog from Platinum Advisor Strategies, The Biggest Problem Financial Advisors Face. Advisors are often so busy working in the business that they don’t have time to work on the business.
A misconception advisors may have is that hiring a marketing coach will cost them more time than simply doing their marketing on their own, but this couldn’t be further from the truth.
Marketing is changing at a rapid pace. The technology available today wasn’t around yesterday, and today’s latest technology is bound to be obsolete in a few short years. How are advisors expected to keep up with it all?
Let’s face it, anything advisors don’t have time to learn or do themselves will be delegated or not done at all. In today’s competitive environment, advisors simply can’t afford to fumble their marketing.
Coaches reduce the time advisors spend on marketing so advisors can put their focus where it counts: meeting with clients and prospects.
That’s why elite advisors always seem to have a competitive edge over their competition. They have coaches behind the scenes focusing their efforts and making the time those advisors spend on marketing more effective and fruitful.
“If professional athletes need a coach to reach peak performance, then financial advisors need a coach to elevate their marketing.” -Unity Eiswert, FMG Suite Marketing Specialist
Marketing coaches analyze website traffic, optimize advisors’ websites, and help plan digital marketing campaigns. Coaches review office systems, branded collateral, and communication plans. Coaches can identify holes in a marketing strategy, cover the best practices for client events, and remind advisors when it’s time to plan the next big activity. Coaches establish goals with advisors and hold those advisors accountable.
How many advisors have the time to do all of that on their own?
These are just a few of the things a marketing coach can do for you. Find out more by clicking here.
About the Author: William Gunn
William Gunn is the Lead Marketing Specialist at FMG Suite. He has coached more than 500 financial advisors on their marketing strategies and helped these advisors become more referable to their clients. William is a Certified Business Coaching Specialist, Certified Business Development Expert, and has an MBA in Marketing.
