Leadership in the News
John Capuano is known for his contributions to Wealth Management, Investment News, Financial Planning, On Wall Street, and Bank Investment Consultant where he writes articles about his financial marketing experiences, and how his stories can impact the strategic growth of advisory practices across the country. Check out his latest articles!
Breaking Through in a Commoditized World
How do you break through in a commoditized world where everyone shares the same products as you? No one has a different stock market. So, how are YOU positioning and implementing the exact same products that every one of your competitors has?
And to make it more commoditized, consumers and investors, all want basically the same thing… ย They ๐ฑ๐ผ๐ป’๐ want to lose money. They want to ๐ด๐ฟ๐ผ๐ to beat inflation. And they ๐ป๐ฒ๐๐ฒ๐ฟ want to run out of money.
๐๐ฒ๐ฟ๐ฒ ๐ฎ๐ฟ๐ฒ ๐๐ต๐ฟ๐ฒ๐ฒ ๐๐ต๐ถ๐ป๐ด๐ ๐๐ต๐ฎ๐ ๐ฒ๐๐ฒ๐ฟ๐ ๐ฎ๐ฑ๐๐ถ๐๐ผ๐ฟ๐ ๐ป๐ฒ๐ฒ๐ฑ๐ ๐๐ผ ๐ฐ๐ผ๐ป๐๐ถ๐ฑ๐ฒ๐ฟ ๐ถ๐ป ๐ผ๐ฟ๐ฑ๐ฒ๐ฟ ๐๐ผ ๐๐ฒ๐ฝ๐ฎ๐ฟ๐ฎ๐๐ฒ ๐ณ๐ฟ๐ผ๐บ ๐๐ต๐ฒ ๐ฝ๐ฎ๐ฐ๐ธ.
#1: ๐ ๐ฎ๐ธ๐ฒ ๐๐๐บ๐ฎ๐ป ๐๐ผ๐ป๐ป๐ฒ๐ฐ๐๐ถ๐ผ๐ป๐.
Connecting with people is a gift for some and a challenge for others. At the end of the day we all need the self-awareness to know where and how we fit in. We can connect with people in different ways, but also need to be aware of how the people weโre talking to feel about personal connections.
#2: ๐ ๐ฎ๐ธ๐ฒ ๐ถ๐ ๐๐ฎ๐๐.
More choices plus unlimited information doesnโt make it any easier for anyone to make a decision today. Create a simple message and an equally simple path forward. We like to say treat everyone like a nervous fifth grader. Ironically we are wired to give more information when weโre trying to help people and not getting to โa yesโ, which causes confusion and could stop the process in its tracks, versus simply communicating the most important benefits and allow them to resonate.
#3: ๐๐ฒ๐น๐ถ๐๐ฒ๐ฟ ๐ฎ ๐ฃ๐ฒ๐ฟ๐๐ผ๐ป๐ฎ๐น๐ถ๐๐ฒ๐ฑ ๐ข๐๐๐ฐ๐ผ๐บ๐ฒ.
While everyone pretty much wants the same thing, security, the story manifests in different ways for different people. Create a theme that takes our commoditized tools and applies them for very specific outcomes relevant to the person youโre working with.ย If you can complete someoneโs life story in a way no one else can…you will break through.
So take some time to consider these three really important components. Itโs easy to let your own biases, and logic seep in. But spending more time on connecting, ease, and personalization will pay dividends, and will create clarity and trust.
About theย Author: John grew up in Schenectady, NY & received a scholarship to Norwich Academy. He began his broadcast management career at WOR, learning spoken word marketing from the best in the business with a specialty in financial and long form. John managed broadcast sales for some of the best known sports teams in the world, at the most legendary stations. However his true passion is in the world of direct response advertising to baby boomers and their parents. In this space he has worked with some of the best brands in America. John lives in Boston with his wife, Melissa who is also a broadcast executive, and French Bulldogs Lou and Sal.
Key Advice for Financial Advisors to Break Through
When it comes to financial planning, all consumers care about is themselves – and thatโs all they should care about! So, why is it so hard to break through?
Here is some advice for how to break throughโฆ
๐๐ฒ ๐๐ฝ๐ฒ๐ฐ๐ถ๐ณ๐ถ๐ฐ. Solve a specific problem for a specific type of person in your marketing efforts. Unless youโre doing general branding, DONโT get caught in the trap of casting too wide a net for fear of missing someone. This is especially true when so many firms are marketing on the same general premise about the stock market that we all share.
๐ช๐ฟ๐ถ๐๐ฒ ๐ฎ ๐๐๐ผ๐ฟ๐ ๐ณ๐ผ๐ฟ ๐๐ผ๐๐ฟ ๐ฝ๐ฟ๐ผ๐๐ฝ๐ฒ๐ฐ๐๐. People care more about their own story than your story. While sharing a founderโs story is important, people really want to know about how you can articulate their aspirational story. Everybodyโs different and have different aspirational needs…how are you telling them the story that they want to hear?
๐ ๐ฎ๐ธ๐ฒ ๐ถ๐ ๐ฒ๐ฎ๐๐ ๐ณ๐ผ๐ฟ ๐ฝ๐ฒ๐ผ๐ฝ๐น๐ฒ. Let them know how important they are to you and your firm. Think about the last big purchase you madeโฆ How easy was the transaction? Whether youโre buying a car, or a house, or furniture, or a new suit…the easier the transaction-the better the experience. Youโre more likely to do business with a firm who makes things super simple compared to the ones who donโt.
We live in a wildly busy and competitive time. The more you understand these nuances the more time you will save for yourself…and the easier it will be for you to break through.
About theย Author: John grew up in Schenectady, NY & received a scholarship to Norwich Academy. He began his broadcast management career at WOR, learning spoken word marketing from the best in the business with a specialty in financial and long form. John managed broadcast sales for some of the best known sports teams in the world, at the most legendary stations. However his true passion is in the world of direct response advertising to baby boomers and their parents. In this space he has worked with some of the best brands in America. John lives in Boston with his wife, Melissa who is also a broadcast executive, and French Bulldogs Lou and Sal.