People and companies in every competitive industry are looking for ways to make themselves stand out from the crowd. By doing things that add value to current and potential customers – that others in your industry are not doing – you gain a competitive advantage and thereby increase profitability.
Recently, I set about to come up with 10 ideas that would help Financial Services Professionals gain a competitive advantage. Below are 5 of these ideas. (The other 5 are just as good or better!) If you are a Financial Professional or own a company in that industry, feel free to use any or all of these ideas with my compliments.
If you’d like to consistently stay at least one step ahead of your competition, we should talk. Our company has an army of people who are freelance creators of ideas that help businesses compete more effectively and be consistently more profitable. Message me here so we can discuss.
Cutest Baby – sponsor a competition at your office to find the cutest baby. This will bring in lots of new parents who need life insurance and college funds. Additionally, if managed correctly, this will generate great publicity. You could also work with an aspiring photographer that would take pictures of each child who is in the competition. Parents get a free digital photo and perhaps an 8X10 at cost. This would amplify the value of the event, provide an additional incentive for the parents to come in and provide the photographer an opportunity to set up a full photo session with the parents.
Catering – work with a newer caterer (or a company who is trying to expand their catering business) to sponsor a ‘financial sampler’ night. Invite existing and potential clients into the office to sample various offerings from the caterer and to mix and mingle. This non-sales selling strategy will result in lots more people coming in and you can provide each attendee with a menu of services you offer to spark conversation and generate appointments.
Personal Development – you have learned a lot of valuable skills. Put these skills into a class or classes format and offer these classes as a complimentary (or for a fee) training for employees at businesses in your area. This provides a unique way to interact with people and is completely different than the type of prospecting your competitors are likely utilizing.
Conference Room – make the conference room (or other meeting space) in your office available for meetings at no charge. There are many people who need a place to hold a meeting that is quieter and more professional than meeting at a Panera or other coffee shop. Spread the word that people can use the conference room (by appointment) in your office at no charge. Takes some time to coordinate, but this would also drive lots of traffic into the office.
Money School – sponsor and teach a financial basics class to engaged couples, high school students and others. As long as you keep this educational and not salesy, these can often be done at a YMCA (or community centers) as a community service. You could also teach these money classes at local churches.
I hope this is helpful to any Financial Services Professional who reads it. And, to repeat; if you’d like to consistently stay one step ahead of your competition, we should talk. These ideas are all mine. But, we have an army of people who are freelance creators of ideas that help businesses compete more effectively and become more profitable. Message me here so we can discuss.
©2017 Robert D. Sager, All Rights Reserved
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