25 Apr 2018

5 Reasons Every Financial Advisor Needs a Book

Via Baer on Marketing: 5 Reasons Every Financial Advisor Needs a Book

If you are struggling to bring in new clients to your financial advising practice, chances are the answer lies in your marketing plan.

For most financial advisors, marketing seems to be an afterthought. And concerns over compliance always seem to get in the way. But without effective marketing, you’ll need to resort to the manual method of shaking lots of hands and drinking lots of coffee.

So if you’re open to an outside-the-box marketing approach, then I’d like to introduce you to the idea of writing a book.

It’s true. This one thing—especially if it’s an actual printed book rather than a Kindle or eBook—has the power to grow your business beyond your expectations. You’ll experience a whole new world of opportunities simply by having your name on the cover of a book.

I know what I’m talking about. I’ve published several books on topics like sales funnels and LinkedIn marketing. So let’s have a look at five benefits you can expect when you publish your own book:

Increase Your Authority as an Advisor

Imagine you’re at a conference or local networking group and you meet two financial advisors (and, let’s face it, it’s rarely just two advisors in the room at these kinds of even), how can you tell them apart?

One advisor says all the right things. She’s been in business for years and worked with some top-notch clients. She has great ideas for how she can help you solidify your financial goals.

The other has a similar history and story, with one added bonus: she’s just handed you a copy of her latest book. It’s a professionally printed, substantial publication that practically exudes confidence.

Which advisor do you think shows more authority in her field? The one with the book, of course. There really is nothing better when it comes to establishing your authority in any niche than having a book with your name on it.

Books Are a Tangible Demonstration of Expertise

So why does a book speak so highly of you and establish your authority so well? Because it gives you a platform to show off your expertise. It’s like being invited to present on any topic you choose on the world’s largest stage.

Not only that, but your readers are a captive audience. They’re listening—in that moment—only to you. And that can be a powerful position to be in as an advisor… one that gives you an opportunity to really show off your stuff.

Broaden Your Market Reach

No matter how many readers Google sends to your website, no matter how much views your YouTube channel receives, nothing will ever compare to the number of potential readers Amazon and other online booksellers can bring your way.

When positioned correctly, your book can reach millions of new readers, and thousands of potential clients. Combine that with the expertise and authority we know comes with being a published author, and that’s a recipe for success that can’t be beat.

Books Are Better Than a Business Card

If you’ve ever been to a conference, I’m pretty sure you’ve collected a stack of business cards (I know I have). You get home and toss them in a drawer, and six months later you throw them out, without ever having contacted the people who gave them to you.
But if one of those people handed you a book instead, what happened? You’ve likely read it (or at least leafed through it). You almost certainly didn’t throw it away. And you remember it—and the person who wrote it.

Opportunities To Be Covered by the Press

Turn on your television to any interview show, browse through Huffington Post, or listen to any of a number of popular podcasts, and you’ll quickly see that most of the guest speakers and interviewees have written a book.

I’ve written plenty about the power of Press Releases, but having a book may even be more powerful. The fact is, interview shows and news articles depend on interesting, insightful guests to keep their audiences tuned in to their content, and there’s no better applicant than an author. Writing a book will open up many, many opportunities for appearances that you may never have without your name on that cover.

Do you have to write a book to be successful? No. But there’s no denying the fact that a published author will find she has a much easier time growing her business than the coach who keeps putting it off until later.