The Brexit Aftermath: Now’s the Time to Talk to Your Clients
We woke up on Friday morning, June 24, to headlines about the decision by the UK to leave the European Union (EU). A somewhat unexpected outcome of a much anticipated event, it has rocked markets around the world, including here in the U.S. In the immediate aftermath of the vote, the DOW dropped more than 600 points and investors questioned what that means for their investments.
As a financial advisor, you have probably already had clients call in or come by your office with questions. Some media outlets are saying that this historic event has the potential to cause a market crash like we saw in 2008, while some professionals are saying that the UK’s exit, or Brexit as they are calling it, will have an insignificant effect on US investors.
There is no telling what will happen in the coming months regarding the UK’s economy, but major world events like this are a great time to remember why your clients enjoy working with an independent financial advisor — you will be transparent with them and educate them on what’s going on. So what does Brexit have to do with your marketing strategy?
Transparent marketing is an age-old principle with new-age implementation. As children, we were told to always tell the truth. We’re expected to adhere to this Golden Rule in our daily lives and in business. But what about when it comes to marketing?
Too often, companies turn to a “gotcha” marketing technique — tricking the consumer into purchasing something and not delivering on what was promised. We’ve all been victims of a “gotcha” marketing scheme.
In contrast, transparent marketing is telling the truth and explaining exactly what the consumer will get. Transparent marketing is a great option for financial advisors because it shows that they are honest and straightforward both in the office and outside of it.
How to Use Transparent Marketing
There’s a good chance that you’ve already been utilizing transparent marketing to help you build this trust, from serving as a fiduciary to providing objective financial information and advice. However, you may not be strategically using it to your best advantage. Let’s look at a few different ways you can make your marketing more transparent for the benefit of your prospects and clients:
- Personalized website content, including pages about how you are compensated, how you work with clients, and what makes you different
- A personalized bio on your website
- “Behind the scenes” posts on social media, including videos of you and your team outside of the office
- Frequently connecting with your clients, including through email newsletters and social media
There are few professions where transparent marketing is as important as it is for financial advisors. When a client trusts you to take care of their finances, they also trust you to be upfront with your marketing efforts.
Transparent marketing isn’t easy, and it can be very intimidating. However, providing a window into your business can attract more prospects and build respect and trust with your clients. You can get started right now by defining the honest and share-worthy elements of your business and how you can communicate them with prospects and clients.