What Advisors Don't Get About Brand Awareness

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Did you buy a product or service in a store or online today? If so, you did something without even being aware of it. And that thing can help you grow your firm.

Think back to your store visit. You probably saw a bunch of similar items on the shelf. But you were looking for one specific product. It was the one you went there to buy, and it was the one you took home with you.

When you pulled it off the shelf, you demonstrated brand awareness. Something made that item stand apart from its competitors. Maybe you had purchased it before and liked it. Perhaps you are a long-time customer and have used it for years. Or maybe you saw commercials promoting it and decided to try it.

Whatever the reason, something motivated you to select that specific brand from all the available choices. Marketing experts call it brand awareness. They have used it for generations.

You should use it to grow your firm.

While we’re accustomed to branding cars. soft drinks and toothpaste, the planning profession has been reluctant to use this approach. As a result, the public sees all financial advisory firms as pretty much the same.