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In light of the coronavirus, investors and financial advisors can either react or respond. Zig Ziglar, author and motivational speaker, describes the difference between reacting and responding like this: Reacting is usually negative and spontaneous while responding is usually positive and more thought-filled.
The most important thing for you to do right now for your practice is to respond appropriately.
Even though the coronavirus is closing schools, cancelling events and disrupting normal activity, you can stay connected with people and be top-of-mind.
I’m no doctor, but I have 18 years of experience coaching financial advisors on how to leverage their networks, build proactive referral processes and practice effective networking skills. In every situation, if you look closely enough, you will find the opportunities that we may easily overlook. It’s no different right now. I’m referring to all the opportunities that are presented to you, despite not being face-to-face with your clients and prospects.
In talking with several clients recently, I asked them cut back on their face-to-face networking and put more effort into social media, content marketing and technology that allows them to communicate electronically. Think about it. If the coronavirus shuts down your ability to connect with people in person, where will people go to connect with their friends, family and colleagues in the meantime? Facebook, LinkedIn, Instagram and Twitter. You need to be there too in order to remain visible, share your message and offer your insight. Yes, compliance plays a role in your ability to engage on social media and that needs to be taken into consideration. That said, many of my clients have an active presence on social media while staying within their compliance restrictions.
What does your corona response look like? Consider some of these opportunities:
- Build that social media campaign that you’ve been talking about for the past two years.
- Develop your own content in the form of articles, newsletters, e-books, or whitepapers.
- Use the content from your resources that’s already been compliance approved in various ways to help you stay top of mind.
- Learn the software system that your office has in place to allow you to meet with clients and prospects electronically and elevate your technology skills.
- Enhance the services that you provide to your clients.
- Demonstrate your expertise with your written word and expand your reach.
- Complete your home office and become efficient when working from home.
- Reconnect with people you may not have connected with in a long time who are distant from you.
- Learn how to use social media and engage a teenager to help you understand Twitter and Instagram.
- Grow your connections on LinkedIn and Facebook so that you can leverage that platform for referrals and introductions.
- Learn how to use the video call feature on your cell phone to “meet” with COIs.
You can come up with additional ways to proactively respond to the coronavirus with creative new practice management solutions. Now is the time to respond appropriately and do those things you’ve been talking about for a long time. Focus your corona response and find the opportunities for you to enhance your client services, continue to develop your relationships and maintain your visibility in your community.
Michelle R. Donovan is a speaker and co-owner of Productivity Uncorked LLC, a coaching firm that helps financial advisors enhance their productivity and create organic referral processes. She has written a Wall Street Journal Best Selling book, The 29% Solution (published in seven languages) and an Amazon Best Selling book, A Woman’s Way: Empowering Female Financial Advisors to Authentically Lead and Flourish in a Man’s World. To schedule a free 30-minute call with Michelle, reach out to her at [email protected].
Read more articles by Michelle R. Donovan