Marketing in our industry is broken. It just plain doesn’t work anymore. Seminars, lead generation cards, radio, concierge marketing have become an exercise in futility. But why?
If you can answer that question, you will be well on your way to marketing Nirvana. So let’s answer that question. When you retire, how will you spend your time? Will you go back to college to take physics and calculus classes? Just because you know it’s good for you?
Nope, if you are like most folks you are going to golf, garden, travel and have a good time in general. In fact, US News and World Reports, the Federal Government and AARP have all done studies of how retirees spend their time, all with similar results. Retirees spend almost all their time sleeping & personal hygeine (9.5 hours) and having fun (7.5 Hours). Sounds like how we would all like to spend our time in retirement, doesn’t it? So it shouldn’t surprise us.
How much time do they spend learning? It ends up, about 1.3 MINUTES a day. Hmmm. 7.5 hours doing leisurely activities a day and 1.3 minutes learning each day.
Why is this important?
What does every single marketing piece out there tout? Seminars, lead gen cards, radio shows, whatever… what do they tout? Come in and LEARN. Come in and I’ll TEACH you.
Duh, our marketing isn’t working because we are asking these people to do things that they don’t want to do! Learn!
Advisors are not that interesting.
Advisors think that the things they talk about are interesting. I mean think about it, isn’t tax savings strategies, estate planning and investment theory engrossing material! To us yes… but to our best prospects, NO.