The relationship would obviously be stronger if you’re personally meeting with someone once a year and you get drinks together, play golf together, whatever that relationship may be, but the other thing that’s really great with social media, it, I kinda just learn naturally a long time ago is, Oh, it is, it’s just an extension of yourself online, so I don’t have the ability to call 500 people with day, met with 500 people a day, have a relationship with 500 people with day, but I still want to have that many people connected to me or working with me.
Welcome back to The prospecting show. We have a Doug Able here on for another session. Thanks so much for coming on.
Absolutely, thank you so much for having me.
So today we’re gonna talk a little bit about branding, probably a little more small business branding marketing and getting new business. Tell the listeners where you kinda come into that… Where have you had some experience? Where do you spend your time right now? In that space.
Sure, so I come from, honestly, just building businesses myself and learning over time the smart, strategic ways to actually market yourself and branding yourself and what customers actually appreciate a good client service, and just from running different businesses, from anything from financial planning to real estate to sales to marketing and consulting, I’ve just learned over time, a lot of these strategies, and the best part is once you learn it, you can implement it for any business, it’s just a matter of changing up the demographics, the audience, and the message that you’re sending.
Yeah, and so what kind of marketing would you say that you focus on, or even before that, what kind of businesses do you work with, do you mostly do B2B plays or B2C plays, where do you focus your efforts right now, or have you in the past… So I’ve had multiple businesses that had different demographics for my financial practice, we are a little bit of B2B as well as B2C, we focus on the every day person that’s focused on investment management and retirement, as well as businesses that are trying to grow and helping them with their planning and management, and then on the real estate side, it’s mostly B2B, as I’m working with other real estate professionals or other investors and business owners.
So I guess you could say it’s a blend of both.
Gotcha, and what would you say the primary difference in your mind is between marketing those two different markets, like where do you find it easier, more difficult to where do you see the differences yourself with what you do?
For consumer side, they generally wanna have an emotional attachment in one way or another, so whether it be really liking the message or following you as a person, or just feeling good from the experience that they had, which obviously every customer that matters, but more so for all, we’re gonna be focused on, can they relieve stressed and they really a problem for me. Do I trust them? Can I benefit from working with them? Whereas businesses are a lot more unemotional, obviously business is more logic and just… What’s the numbers? What’s your cost? How can you save me time? How can I benefit from working with you? They don’t necessarily have that emotional attachment, they’re just looking at it black and white as to what’s the best business decision for me and my company… Yeah, absolutely. And with what you’ve done, either both on your financial side in the real estate side, where have you seen the biggest B2B plays in… Been successful. Is there a specific platform or specific method that you’ve found have been really effective for you guys… It’s pretty similar, honestly, generating that business in each demographic, whether it’s B2B or B2C, a come down from referrals, obviously, once you work with someone, you ask for referral of someone in a similar… Whether it be similar industry for business owner or maybe a similar group setting or neighborhood or part of town for the consumer. The other thing is just social media in general, you could target business owners maybe on certain platforms like LinkedIn or Facebook business groups, as opposed to just putting up more general content to like your Instagram or Facebook or Snapchat.
Right, right. It’s a little bit more specific and what are your thoughts on one-to many verses, one-to-one marketing, and maybe I’ll qualify that before you answer it, so if you’re putting out an ad and let’s say you run a 30… A 30 a day ad spend on Facebook and you cast at an advertisement to consumers and it’s going out to 10000 people, that’s what the impression count is, how does that differ from a one-to-one relationship management that you or one of your clients would have with another business. Do you see any difference there? Or do you still feel it? It’s really the same result.
So I think that social media is just a way to expand the message and service that you do to a wider group of people at a much faster pace, and it’s cost-effective, so if I’m understanding it right, you’re saying more so if 100000 people can see this message as opposed to you meeting with someone one-to-one, building that more that a connected relationship.
Yeah, absolutely. Yeah, so I think that the message, or I’m sorry, the relationship would obviously be stronger if you’re personally meeting with someone once a year and I… It drinks together, play golf together, whatever that relationship maybe. But the other thing that’s really great with social media, it, I just learn naturally a long time ago is all it is, it’s just an extension of yourself online, so I don’t have the ability to call 500 people with day… Meet with 500 people a day, have a relationship with 500 people with day, but I still want to have that many people connected to me or working with me, so social media, just the way that you can multiply to have a multiplier effect of that to where maybe an ad of some educational content or something that’s gonna help the audience that you’re targeting, maybe 25% of those people see it, if you have another 2500 people or 20-000 people that are now following your content and looking to you for guidance, that’s almost just as powerful as physically meeting with 25 new people.
Right, right, absolutely. The reach is definitely a big thing, and I know in the marketing space, because we do a little bit of marketing ourselves, a lot of people talk impression counts, but one of the things that we pride ourselves on our two different factors, one is relationship count and an actual business execution count. So at the end of the day, we look at it and say, Yeah, maybe you have 20 000 impressions on this post or this podcast or whatever it is that the content strategy, but how many people converted from that actually did some kind of business. Did a phone call with you? I sent you an email followed up with you, or actually transacted with you, and I think for us, one of the things that we pride ourselves on is measuring those other two factors, because there’s a lot of social media management companies out there that go straight impression an impression yelled, like you’re saying, 20000 people saw this, but if 20000 people that are the wrong people saw that’s not useful either, so it has to be that… Right. Targeting like you’re saying, 100%. I agree, totally, because it has to be what’s executed right? That’s great if a million people see this, but if you’re out of business tomorrow because you have no sales… What’s the use of that?
Exactly, and it’s really the utility of the service, it has to be broad enough and wide enough into the right audience so that they actually are willing to do it.
Now, if we do step back and look at in your space, because you have a B2B and a B2C play, do you find there’s a difference to yourself… Taking someone through a sales process, I know you’re not selling per se, but when you have someone who’s coming to you for personal financial advice versus business financial advice, do you find that that sales process or that networking takes me longer for the B2B versus the BDC Bay?
I don’t think that the process is necessarily different as far as I’m not trying to present something or a perception of me differently between a consumer or an owner, but as far as the actual time involved in the process, it definitely is longer and a little bit more extended with businesses because one, kinda like I said before, they’re not emotionally attached, they’re not just buying because you’re a friend, they’re doing the research or due diligence, they’re meeting with other people, probably… They’re going through their cost analysis, and then the other thing is they’re just really, really busy, and if you ask them what’s their priority meeting with someone to help them provide a service or manage the finances or whatever it is, or to get this sale closed or to get this real estate project developed that actually brings in the money to keep them in business, they’re gonna choose their business as a priority every single time, which I totally can get and relate to as well, but that definitely delays the process as far as from meeting and building that relationship to actually signing them or working with them in the company.
Yeah, and that’s true, because people’s priority are really top line first, then bottom line last, and I think with a lot of the financial services, it’s actually a top line and a bottom line strategy, but it’s over time and people… I was right now, now now they’re not worried about an 80 to 10% return in the market for 25 years, they’re looking at the 5000 sale that’s in front of them tomorrow.
Yeah, exactly. What’s the immediate gratification? How do I pass this bill that… Right, right, exactly. And that’s good, I guess, because it motivates people to sell stuff and transact in the marketplace, and I provide a service, but at the end of the day, I think the long run is always better if you can spend the time to set up a good financial future while you’re young, under 30, under 35, even under 40, and you kind of pack that all in and build a great system, a long term that’s gonna be great foundation, you’re gonna have better growth, so it’s really like, are you willing to invest now? Or do you wanna delay in a work in the future, and I did argue that the instant gratification, it’s kinda killing people because there’s a huge need for financial planning up front. Wouldn’t you agree?
100%. And you made a great point is basically having that foundation in place now, because the whole point of money management and doing these things correctly is it compounds over time, besides just the fact of having money consistently invested it regardless of what the asset class is, just putting money out there and working for you, time value, money just works, it’s just a proven thing, but also to your point of like knowing what to do it, let’s say that there’s a more efficient way of managing your money or reducing your debts or buying certain insurance plans or whatever it may be, if you aren’t tackling that today and you just kinda do your own thing and wing it for 20 years, think about the opportunity cost or all that money that could have been lost by being inefficient or having the wrong plan or not smashing a certain amount of money away that over 20 years, that can make such a huge impact. I’m not saying the people can’t come back from it, but you’re gonna be behind the A-ball instead of in front of it.
Yeah, and that’s the truth of pretty much anything that compounds over time, even with business, if you get bad business Manders IP and have bad business techniques and bad financial techniques up front, you’re gonna carry that forward for the next 15 years, and you can look back and say, Well, yeah, this is a bad habit that you got into an age, very, very hard to unwind that at that point, so I 100% agree though, there… But in your practice right now, and you’re in your financial practice, what is an ideal audience or ideal target for you, who do you help the most or where do you guys kind of specialize… I know you got the B2B and the B2C play, but for those people who are listening who are interesting, planning, maybe you want someone to take a look at what they’re currently doing, who is that actual audience for you?
So we can probably define that as three, and it’s kind of funny ’cause my career, I’ve bounced around to so many things, I’m like, I don’t work with this and this and this and this, and I just learned, I’d rather be a specialist than a generalist, and focus on a couple of things that I think I have a competitive advantage at or I just really enjoy working with, so our market is, first is gonna be business owners, we could pretty much handle anything involved with the business planning and business execution process. The next client basis are retirement clients, so we really like working with people that are gearing for retirement or just recently left their job and retired, managing that wealth and putting those plans together, and then the last is just the younger generation… Obviously, I’m the younger guy, so I can relate to that.
People getting their life story, they’re starting to invest, they’re getting married, they’re building a family and building this life together. What can I do to help get them on the right path? And put that foundation in place. So those would be… Or the markets that we either provide content for or seek out as far as potential clients go.
Gotcha, and so if one of those three markets are one of those three kind of target audiences that you guys have that extra expertise and want to reach you, how would they actually find you?
You could find us online pretty easily, website is Sterling financial dot com. You can actually submit your information and set appointments online to connect with your calendar, so it’s your best convenience, and then other would be just social media, I have pretty much any platform out there, you could find my phone number and email pretty easily online… Right, and what’s the main handle that people can go to to find you on social… Just so that they can reach you.
My… Probably my biggest platform would be Instagram, which is Ginsburg investor… Okay, and then probably next to that would just be my personal Facebook page.
Awesome, well, I really appreciate you coming on the show again here in doing this session on some finance stuff and some business. Thank you so much.
Thank you very much for having me on, man. I hope people find value in… Absolutely, thank you.
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