Positioning yourself as an expert can boost your credibility with clients and increase the likelihood you will receive referrals.
“It’s easier to refer someone who specializes in a particular area than a jack-of-all-trades,” says Sara Gilbert, founder of Strategist in Montreal. “It’s easier for the clients to refer [a financial advisor] who has a clear message.”
Follow these tips to help you become known as an expert in a specific area of financial services:
> Focus your skills
Concentrate on a target market or specific investment solution as a step toward becoming known as an expert.
You can’t specialize in a holistic approach to financial planning, Gilbert says, while also specializing in options strategies. You would have to be one or the other.
Instead, she says, focus on one area of specialization. For example, you might be an expert on income-generating solutions or work exclusively with entrepreneurs.
> Take a multimedia approach
To establish yourself as an expert, use every form of communication available.
It’s important to use various media to reach your clients, Gilbert says, because not all clients listen to the same messages or respond in the same ways.
Some of your clients and prospects will prefer to communicate with you via social media, she says. Others will want to read a monthly newsletter or talk with you either in person or on the phone.
> Create a (brief) message
Craft a short statement about your expertise that clients and prospects can repeat easily to others.
In addition to posting a mission statement on your website, Gilbert says, you should include a short sentence — eight words or less — explaining your expertise.
For example: We help entrepreneurs create succession plans.
> Introduce other experts
Show clients that you fully understand their financial needs by introducing other experts.
Make sure the specialists you recommend are related exclusively to your target market, Gilbert says. For example, if you work with entrepreneurs, bring in a human-resources consultant to help with your clients’ staffing and payroll strategies.
By presenting other professionals, says Gilbert, you establish yourself as an expert; you show clients that you understand their industry and their specific financial needs.