What Jerry Seinfeld Teaches Us about Advisor Marketing
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The last episode of the TV show Seinfeld was created in 1998.
Yet the creators of the show, including Jerry Seinfeld, have been going to the bank each and every day for the last 21 years.
Some estimates top $3.1 billion (yes, billion) in syndication royalties and counting.
And consider, not that long ago Hulu paid a reported $180 million for the streaming rights alone for a show that had not been on the air since Bill Clinton was president.
What can results-oriented marketers learn from the greatest sitcom in television history?
Where is “Seinfeld” leading us?
- Building a franchise or brand pays dividends years and even decades later.
- You can create entertaining and informative content around the smallest things, just as this “show about nothing” proved. (There is hope for fascinating others with the minutia of 529s and the fine print of 401(k) fees.)
- Ownership of content is important, as its co-creators Jerry Seinfeld and Larry David get the lion’s share of residuals, while the actors who played Kramer, George, and Elaine get a pittance in comparison.
- A story told in 30-minute segments is right for our attention span.
When it comes to content, we live in an on-demand video economy.
On demand means prospects are in charge of the information consumption and buying process and decide how and when they will engage any financial firm or advisor online.
Video is not just for Seinfeld and Dude Perfect fans.
For example, a recent survey of business marketers by Experian indicated that 81% plan to use video as a marketing tool.
Advisors that recognize and capitalize on the on-demand video economy are much more likely to be top growers, part of the top 20% that will experience 80% of growth.
What insights can advisors take from our on-demand video economy?
Prospects are searching for information online, and video is the preferred format.
Yet most advisors fail to take advantage of on-demand video. And too often those advisors who try video use the wrong model.
A 60-second or three-minute promotional video about the firm is a useful start, but it is not enough to attract an opt-in lead.
What is a proven on-demand video model?
How can you gain a new ideal client each and every month from a video that may have been created months or even years ago?
With compelling content
Like the sitcom, tell your story in about 30 minutes.
Offer ways to solve the financial problems around a theme and to provide a solution. This will help to establish you or your firm as experts and a go-to resource.
With an inviting format
A webinar format – with you as one of the experts speaking about a money-in-motion situation of your target market or niche – is a productive start.
Webinars can be live, on-demand or pre-recorded and streamed/broadcast using one of many standard and inexpensive technologies.
Webinars combine voice and visuals and when produced become a video file available on demand. (Compliance pre-review and being able do a retake to correct any speaking gaffes is a good reason to start with a pre-recorded video.)
With smart marketing
Once you get someone's attention online you have eight seconds to convert them to a lead. Otherwise, you are likely to lose them forever. (Roughly 98% of your website visitors will not become clients.)
A webinar/video registration page on your website is a savvy way to turn website visitors into clients.
Webinar registration forms capture a name and email address (opt-in) so that you can market back to those prospects and convert them to an initial call or meeting.
High-performing webinars use a topic that promotes the benefits of your firm and galvanizes prospects to register.
Webinars that are well-attended are usually promoted by email to prospect, sponsor and third-party lists. (My firm’s tracking surveys over the years indicate email marketing is consistently the most popular digital-marketing tactic for advisors.)
The subject line of the email should feature an appealing topic and highlight the advantages of attending.
With most webinar/on-demand video technologies, you will be able to see who attended, for how long, and if the attendee asked questions.
A small percentage of webinar leads will contact you directly, but most will require multi-step follow-up.
You can become the Jerry Seinfeld of your market niche
You can capitalize on the on-demand video economy.
You don’t need to be a comic or possess a riveting personality.
You don’t need to know much about video or marketing.
Folks like me can help you craft your story, “turnkey” your production, and promote your video.
Settling on a specific market and being savvy about solving their problems is usually enough to get you in the game.
And it can ignite your growth.
Bob Hanson is co-author of Marketing Power for Financial Advisors. Get his new report, “7 Pillars of Winning Webinars, Online Events, and Video Marketing” here