Case studies are the new testimonials, says Sara Gilbert, founder of Strategist in Montreal.

A case study is more tangible than a testimonial, Gilbert says, because it is a concrete example of a specific situation in which you have helped a client.

“A client saying ‘Bill is a great advisor’ is nice,” Gilbert says. “But when we can go into detail and say how Bill helped this client in this situation, it has a much greater impact.”

Here are three steps toward composing an effective case study:

1. Use a situation that others can relate to
The purpose of creating a case study is to show people that you have the skills to solve their problems, so you should choose a situation that relates to the majority of your clients and your target market.

This should not be difficult because many of your clients probably have similar needs.

If you have a very specific client base, Gilbert says, you might choose a situation that applies to only a few individuals but will probably be experienced by all of your clients at some point.

For example, if you work with business owners, you might choose to highlight a situation in which you helped develop a succession strategy for a client who was preparing to sell his business. While not all of your clients are at the succession stage, it is inevitable that they will be at some point. So, they will appreciate working with an advisor who is experienced in succession planning.

2. Establish a narrative, not a math equation
Don’t rely on confusing statistics and rates of return. Your case study is a story, so it must have a beginning, a middle and an end. Here is a basic guideline:

  • introduce the situation;
  • describe the client involved and his or her relevant characteristics;
  • define the problem and how you solved it.

For example, your case study might involve Bob, 61, and Mary, 58, who run a hardware store. They have three children, but only two of them are involved in the family business. Bob and Mary were concerned about creating an estate plan that would be fair to all three children. Your role involved dividing the estate in a way that reflected the stronger involvement of the two beneficiaries who managed the business without causing conflict with the other sibling.

This story should be detailed and read well. If you don’t consider writing to be one of your stronger skills, write out a rough draft and hire a writer to put in the finishing touches.

“Focus on your strength,” Gilbert says. “Your strength is the meat of the case study. The writer will polish the story and make it compelling.”

3. Respect your clients’ confidentiality
While you want your case study to be realistic, ensure that the descriptions aren’t so specific that your readers can identify the identities of the clients in the study.

In fact, the first step is to ask your client’s permission before you begin to compose the study. Tell them certain identifying details will be changed, such as names and total assets.

Also, give your client the option of reviewing the case study prior to its distribution to ensure he or she is comfortable with its contents.

This is the first installment in a two-part series on using case studies as a sales tool.

Next: Increasing awareness of your case study.