| |
Richard’s experience in
marketing, selling, and communicating with
affluent and wealthy people
is unparalleled.
As a highly sought after
marketing consultant, he draws from his
lifetime of experience to help others
understand this unique marketplace, overcome
obstacles, and grow a profitable business.
He is the author of the best
selling book, Opening Closed Doors --
Keys to Reaching Hard to Reach People
and the founder of The Weylman
Center for Excellence in Practice Management,
an online university for financial
professionals and staff to elevate their
success in the affluent market.
Christopher Forbes, Vice Chairman of
Forbes Magazine, calls his work in this
complex marketplace "brilliant".
He is also a member of the United States
Luxury Board, whose primary mission is to
enable organizations to better understand
the affluent consumer. On a personal level,
Richard has been recognized for his work on
behalf of others by several organizations,
including a nomination for the
prestigious Horatio Alger Award. This
award recognizes outstanding individuals in
our society who have succeeded in the face
of adversity and pursue dreams with
determination and perseverance.
Richard’s speaking,
consulting, coaching and educational
platforms are filled with unique insights
that can be used immediately to improve
business. Most importantly, he
clearly communicates practical strategies
and tactics to elevate your success in the
affluent marketplace!
"My goal is to inform and
inspire audience members to discover their
passion, accelerate their performance and
grow their business."
-
Richard Weylman |
|
| |
Your
Best Resolution for Growth in 2010
Here’s an achievable New Year’s resolution
for advisors who want to build an affluent
practice: revamp your marketing. Even as
advisors worry about falling profits, client
retention, and attracting new business, with
the right marketing plan it’s possible—and
more critical than ever—to improve your
performance with both wealthy and affluent
investors.
The first step is to become a student of
the affluent and their expectations, and
re-examine your approach to marketing to
reflect this knowledge. Old techniques such
as public seminars, mass mailings, and cold
calling no longer yield strong results. Nor
do presentations that focus primarily on
product offerings. This means your focus
should be on people, not simply selling your
services as products. In other words,
building long-term, mutually profitable
relationships with the affluent and wealthy
requires a full understanding of how they
define value and make purchasing decisions,
as well as the psychological needs that
drive and influence them.
Step two is to make a conscious decision
to expand your practice. Think about how
you can grow your investment offering or
client base to capitalize on opportunities
as the financial markets and economy
rebound. Focus on specific groups and become
the go-to financial resource for them. It’s
not enough to target business owners or
doctors or money-in-motion in 2010. This
year and in the years ahead, to be
successful requires you to narrowcast.
Think about today’s major broadcast TV
networks, which are losing money and
audience to cable networks that know and
deliver to their market base and are thus
growing at substantial rates. The same goes
for advisors. Instead of believing you will
target business owners, identify specific
groups within that market: tool-and-die
shops, auto repair, fast food restaurant
owners, and so forth. If you wish to target
doctors, narrowcast by focusing on
cardiologists, radiologists, or
pediatricians.
Once you’ve determined how and with whom you
want to expand, you can position yourself
with the right centers of influence in your
chosen markets. By this I mean the
leaders—executive directors, presidents,
board members, or other professionals such
as attorneys and bankers—who support and
work in the markets you’ve chosen.
The next step: Raise and exceed your
clients’ expectations. Again, your focus
should be on building long-term
relationships, not executing transactions.
Use as a model the average hourly employee
at every Ritz-Carlton hotel, who receives
240 hours per year of education on topics
such as service, decorum, presentation, and
communication. The Ritz knows that elevating
client experiences, not just service, in
every area is crucial to their marketing
strategy because it creates delighted
advocates who help build and sustain the
brand’s image of luxury and excellence. In
contrast, the average sales professional
reads only one book a year on marketing and
elevating client experiences, according to
Sales Management Magazine.
Communication will also be crucial to growth
in 2010. Resolve to engage in open,
proactive and interactive communication with
all your clients and prospects throughout
the New Year. Remember that people who
entrust you with their portfolios need
reassurance and connectivity. If you don’t
have a communication plan in place, get one.
If you already have a plan, update it so
that if and when there’s another downturn,
you’re prepared to keep clients informed,
lessening the risk of defection.
Finally, stay committed to quality advice
by knowing and then integrating your core
values into your practice. Seriously
consider involving yourself in charitable
organizations that support your targeted
markets, building both credibility and
visibility for your practice.
Taking personal responsibility and
accountability for improving your success in
the affluent market requires having a clear
vision for your business that will help you
achieve specific goals, grow your practice,
and make your vision a reality in 2010 and
beyond. |
|
