NAILBA Perspectives Winter 2020 | Page 23

NICHE MARKETS Differentiate yourself in messaging and methods “I am a member of a broad topic Facebook group called Professional Asians, which reaches 60,000 U.K. members.” Bhupinder Anand is CEO of Anand Financial Architecture. A 23-year member of MDRT with 18 years TOT and twice winner of UK ‘IFA of the Year’, he is renowned as one of the world’s top financial services speakers. Contact [email protected]. It seems like there are innumerable communication methods to reach potential clients, but few ways to stand out. In looking to be recognized in the Indian community, I learned the key to breaking through the noise is consistent messaging. To set yourself up for marketing success no matter what the next best tool may be, understand and communicate your points of differentiation to your target audience. Know your audience Knowing the niche upfront that I wanted to pursue, gave me a leg up in attracting potential clients. I tailored every message to the audience and remained consistent. With mixed messages, you can lose leads who may not be able to interpret whether your services are the right fit for them or someone else. If you are unsure of your niche, ask yourself what attributes your top five clients share to find a common thread, then gain an understanding of what and how they want to hear from you. Choose your channel Newspapers used to be the most effective vehicle to reach consumers and one I used frequently early in my career. I approached Eastern Eye, a weekly newspaper with 40,000 Asian descent readers throughout the U.K., to secure an opportunity where I could share my thought leadership as a reporter. As the first and only personal finance editor, I established credibility and elevated my expert insights in a weekly column. People began to recognize me from my photo in the paper, and I started to build up prospects through this awareness. I also found success with co-sponsoring a magazine called Britain’s Richest 200 Indians published by Eastern Eye and launched by then Prime Minister, Tony Blair. Soon, I was awarded the U.K. “Independent Financial Advisor of the Year” and continued getting tapped for contributed content and interviews, including as a commentator and expert in the mainstream media. Overall, my marketing approach was successful because I effectively used the print and broadcast media channels to separate my expertise from the average advisor. Stay current I knew I needed to evolve as modern methods became available. I now obtain leads through social media by positioning myself as a financial expert on various platforms — even those that are not directly related to finance. For instance, I am a member of a broad topic Facebook group called Professional Asians, which reaches 60,000 U.K. members. Whenever anyone asks a financial planning question, I differentiate myself from the other respondents, who simply provide a name and number, and take the time to write out a response that is educational to a wider audience and promotes my expertise. You could be the most knowledgeable advisor for your target market, but without optimized marketing, you may never reach your future clients. Remember, your messaging is equally as important as your method to become the advisor of choice with your target market. If you can differentiate your offerings in the eyes of prospects and clients, you’ll quickly see the payoffs of investing in marketing and adapting to new trends. www.nailba.org 23