How to Prepare for AI Search

With the adoption of artificial intelligence, the way we search for information online will change in the not-too-distant future. The prevalent method of searching on Google may not remain the standard behavior. More people will rely on AI searches or a hybrid AI search engine. So, how do you prepare for this shift?

Since AI gathers information from numerous data sources to make recommendations, one proactive approach is to ensure your firm is widely recognized on the internet as a leader in your niche or local community. Although I don’t have any insider information on how AI makes recommendations, here are some tactics I would use to prepare for AI search:

• Ensure your name is listed on various local directories such as Google Business Profile and common ones found on location listing services.

• List your name on different “find an advisor” directories, such as NAPFA or Wealthtender.

• Publish content on websites related to your niche or local community.

• Issue press releases pertinent to your niche or community.

• Apply for various local, industry, and niche awards.

• Maintain current SEO best practices for your website.

By implementing these practices, you position your firm to be visible as the way consumers search for information changes.

Use QR Codes Sparingly and Strategically

Wondering if QR codes should be part of your marketing strategy? I believe QR codes are best used sparingly and strategically in the post-pandemic world.

QR Codes Should Simplify, Not Complicate

Are you making things simpler or more complicated for your audience? QR codes are ideal when they make an experience more straightforward. For instance, in restaurants, QR codes are great for placing and paying for orders. However, using a QR code to view the menu can be more cumbersome than providing a physical menu.

QR codes excel in situations where they simplify access to complex URLs. For example, a QR code is perfect for directing someone to a complicated link, like a page to purchase your book on Amazon. But for something straightforward, like your website, just provide the URL directly.

Consider Your Demographic

QR codes are more widely used among younger demographics and less so among those over 62, who might be a significant portion of your clients.

Where Will the QR Codes Be Used?

QR codes can be ideal for events like conferences, where attendees can easily scan them from poster boards or flyers. However, they’re less practical for billboards or PowerPoint presentations, where scanning is more challenging.

In conclusion, QR codes should facilitate ease and efficiency, not act as a tech hurdle. Use them when they provide a clear advantage in making a client’s journey to valuable information simpler and quicker than alternative methods. The aim is to enhance, not hinder.

Prioritize Evergreen Over Time-Sensitive Content

As a financial advisor, you’re busy! You barely have time for marketing, so it’s important that what you do spend time on is optimized for long-term success.

One key tip is to focus less on time-sensitive content and more on evergreen content. Time-sensitive content, while relevant and engaging in the short term, quickly becomes outdated and either becomes irrelevant or requires constant updates and revisions.

Instead, invest your time in creating evergreen content—material that remains relevant and useful to your audience, regardless of the date. By providing timeless financial advice, tips, and insights, you create a library that prospective clients can return to time and again. This approach enhances your online presence, improves SEO, and saves time and resources in the long run.

While time-sensitive content will get you attention in the short term, evergreen content will continually work to attract prospective clients for years to come.

The Power of Good Marketing Habits

Effective marketing extends beyond major initiatives like launching a new website or a brand overhaul. It's about a commitment to regular activities that establish trust and keep your business top of mind. Here's what successful marketing habits can achieve:

• Awareness: Consistently publishing content and maintaining a steady online and offline presence ensure you remain connected and top of mind with your target audience.

• Relationships: Participating in networking events, engaging in online forums, connecting with centers of influence (COIs), nurturing client relationships, and being involved in community activities are crucial for developing relationships that lead to referrals.

• Trust: Consistent communication and proactive engagement are essential for building trust with clients, prospects, COIs, and the wider community.

• Authority: Sharing your expertise regularly through articles, speaking engagements, and social media establishes you as a thought leader in your niche or community.

While the thrill of major marketing projects is exciting, the real strength lies in consistent, less glamorous day-to-day efforts. These practices lay the foundation for long-term awareness and credibility.

Rethink Your Google Dependence

Many advisors hope to get leads from Google through organic searches or ads, thinking they are an easy way to generate business. However, advisors should reconsider their overdependence on Google to generate leads. There are two main reasons.

One concern is the shift toward artificial intelligence (AI) in search processes. As AI becomes more sophisticated, potential clients may increasingly use AI-driven platforms to find a financial advisor. At this time, it is unclear how to optimize search results for AI. Meanwhile, the trend toward AI may diminish the reliance on traditional search engines as they are today.

The second concern is the increasing cost of Google Ads. With national financial companies aggressively competing in the digital space, the cost per click for Google Ads has skyrocketed. This inflation could make it unfeasible for independent financial advisors to afford this channel.

While Google is still a viable marketing channel, the rise of AI in search queries and the prohibitive costs of Google Ads could necessitate a pivot toward alternative digital marketing approaches.

Position Yourself as an Expert in a Niche Before Becoming One

Use these 6 strategies to build your reputation as an expert

For financial advisors new to working in a niche, there is often a struggle with perceiving themselves as experts in that area. It’s crucial to understand that this is a temporary challenge that can be overcome with time. As you build expertise through experience, there are effective ways to establish a reputation as an expert in your niche even before you fully see yourself as one:

1. Prioritize continuous learning: Engage in ongoing education, such as courses, seminars, and industry certifications, to learn and stay updated with news and trends specific to your niche.

2. Commit to your niche: Customize your website, marketing materials, and social media to reflect your specialization, demonstrating your dedication.

3. Engage with the niche community: Participate in niche events and online forums. Share your involvement on social media and your website to get further reach.

4. Create niche-specific content: Build credibility by producing regular, relevant content, such as blog posts, videos, and white papers, that cater to the needs of your niche market.

5. Customize your services: Offer services that are tailored to meet the unique needs of your niche, distinguishing you from other advisors.

6. Leverage case studies and testimonials: Utilize real-life success stories and client testimonials to build trust and showcase your expertise.

These strategies will assist not only in developing expertise but also in boosting confidence and establishing a reputation in your chosen niche.

Year-End Book Roundup

Year-End Roundup: My Top Business Book Picks of 2023

As we approach the end of the year, I’m excited to continue the tradition of sharing my favorite business books in the year’s last newsletter. Nearly all my top picks were released in 2023, with one notable exception from late 2022. I hope you find my roundup inspiring and consider adding some of these titles to your reading list for the upcoming year.

10x Is Easier Than 2x: How World-Class Entrepreneurs Achieve More by Doing Less by Dan Sullivan

This insightful book is perfect for those facing challenges in business growth. Sullivan introduces a paradigm shift, suggesting that setting monumental goals requires a fundamentally different mindset.

$100M Leads: How to Get Strangers to Want to Buy Your Stuff by Alex Hormozi

Hormozi offers a straightforward formula for generating leads. The catch? It demands a level of execution that many find challenging.

Smart Brevity: The Power of Saying More with Less by Jim VandeHei, Mike Allen, and Roy Schwartz

This book is an excellent resource for refining your communication skills. It teaches how to be succinct yet impactful, ensuring your message gets the attention it deserves.

Buy Back Your Time: Get Unstuck, Reclaim Your Freedom, and Build Your Empire by Dan Martell

Echoing themes from “10x Is Easier Than 2x,” Martell guides you through re-evaluating your business approach to free up time for what you truly love and for empire-building.

Uncomparable: The Financial Advisor’s Guide to Standing Out Through Niche Marketing by Kristen Luke

A bit of self-promotion here—my own book also debuted this year! It’s designed for anyone seeking a clear, effective marketing strategy focused on a niche.

Wishing you all a happy new year filled with great reads and even greater successes!

Reviving Face-to-Face Marketing in 2024

Reviving Face-to-Face Marketing in 2024

I recently came across a thought-provoking article in Harvard Business Review titled “How the Pandemic Changed Marketing Channels.” One key takeaway that caught my attention is the continued expansion of face-to-face (F2F) channels. Why this trend? It turns out that consumers encounter an overwhelming 5,000 to 10,000 advertisements every day, making it increasingly challenging to break through the digital noise. Additionally, people are experiencing a growing digital fatigue and a renewed longing for connection.

Armed with this insight, advisors should incorporate more face-to-face channels in their 2024 marketing strategies. Personal interaction has always been a strength for many advisors, although there has been a trend away from it since the pandemic. Now is the opportune moment to reintroduce this effective approach.

Wishing you a merry Christmas!

Evaluate Your Niche Potential by Buying a List

This tip is originally from February 2021.

If you have recently chosen a niche market for your business, you may wonder whether it has potential. One way to evaluate your niche is to ask yourself, “Can I purchase or compile an exhaustive list of the niche clients I want to serve?” Sources for this information could include a direct mail list provider, LinkedIn, company directories, or association membership directories. You don’t actually have to buy or compile a list, but if you can’t find one, this tells you that it is probably going to be hard to find your niche to market to.

Source: Derived from The Business of Expertise by David C. Baker. 

Identifying Marketing Gaps Through Journey Mapping

Are you concerned about unidentified gaps in your marketing or worried about losing potential clients? A solution is to thoroughly map your potential client’s journey. Allocate a day with your team to analyze the journey from when a potential client realizes the need for a financial advisor to when they choose your firm. Ensure you cover all touchpoints, from initial awareness to the final decision.

Deeply understanding this journey allows you to identify gaps and missed opportunities. There might be stages where prospects lose interest or lack adequate support or information. Recognizing these gaps enables you to fine-tune your marketing efforts.

The insights from this journey mapping are valuable for developing your marketing plan for the new year, ensuring strategies that are focused on the client, targeted, and more likely to succeed.