Your BRAND = Your REVENUE POTENTIAL
How connected is your brand to your revenue? Is your staff in lockstep with your brand and how it’s articulated? Do you live and breathe your brand?
In the financial world, almost everyone’s brand is homogenized. Everyone shares the same stock market and the same basic goal: To protect and grow your investments.
Whether it’s at an institutional level or at an independent RIA level, at the end of the day, your brand needs to separate you from the pack and lead to someone, somewhere, setting up an appointment with you and ultimately handing you their money.
Your brand is the difference-maker in distinguishing you from all other choices, and a good one will give you an edge, leading to monetization.
You should be able to answer these four questions about your brand:
– Is your brand authentic?
– What does your brand really, truly mean to your prospects and clients?
– Why does your brand distinguish you from any other option?
– Will your brand lead to trust?
This is hard enough at an institutional level. It’s as much about the advisor – a human being – at the point of sale as it is the overarching brand itself.
But think of it this way: people buy things from people… so your people need to embody your brand if they are to increase their sales.
Catchy brand identity concepts are everywhere, but if it can’t answer the four questions, it’s not worth much. And just as importantly, it must be connected to every person in your office, every event you do, and every bit of your marketing in one form or another.
And finally… you should ask yourself, AND the creator of your brand: “How exactly will my brand be monetized?” Don’t settle for something that just might sound good. Challenge yourself to demand specific, actionable plans to monetize it.