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2019 MDRT Annual Meeting e-Handout Material Title: All Marketing Is Niche Marketing Speaker: Michael Morrow, CFP Presentation Date: Monday, June 10, 2019 Presentation Time: 3:30 – 5:00 p.m. Session Room: MBCC - Sunset Vista Salon A The Million Dollar Round Table® (MDRT) does not guarantee the accuracy of tax and legal matters and is not liable for errors and omissions. You are urged to check with tax and legal professionals in your state, province or country. MDRT also suggests you consult local insurance and security regulations and your company’s compliance department pertaining to the use of any new sales materials with your clients. The information contained in this handout is unedited; errors, omissions and misspellings may exist. Content may be altered during the delivery of this presentation.

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Michael Morrow, CFP

All Marketing Is Niche Marketing

The DNA of

A blueprint or code containing

the instructions on how to

build and maintain a highly

successful niche practice.

DNA

• What is your Niche

• 4 Steps to Establish Niche Market

• Successful Marketing Campaigns

KNOWING to DOING

• Marketing Strategies to Attract

High Quality Clients

• Client Meeting Tools to Move Clients to

Action

What’s Your Niche?

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4 Steps to Establish a Niche Market

1. Decide on your niche market

2. Position yourself as an expert in your niche

3. Set up a 12-month marketing plan

4. Master a systematized sales process

OCCUPATIONS COMPANIES PRODUCTS

LIFE TRANSITIONS FINANCIAL TRANSITIONS GEOGRAPHIC AREAS

Sample Niches

• Shorter sales cycle

• Turnkey presentations and solutions

• Increased trust

• Higher client retention

• Higher quality referrals

• More expertise

• Organized and focused marketing

Advisor

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• You solved their problem

• Better advice due to

deeper understanding

of the issues

• Increased confidence

in you

• Increased confidence

in the decisions made

• You can provide more

realistic examples of

scenarios

Client

• Website

• LinkedIn and

Facebook

profiles

Position Yourself as the Expert in Your Niche

• Email Newsletters

• Trade Associations

• Blogging

• Business Cards

• Writing Articles

• Special Reports

AL

AR

CA CO

CT

DEDC

FL

GA

ID

IL IN

IA

KSKY

LA

ME

MD

MA

MN

MS

MO

MT

NJ

NY

NC

OH

PA

RI

SC

TN

TX

UT

VA

WA

WV

WI ON

PEIGeorgetown

Investor

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• Ongoing Activities for Clients and Prospects

• Timeline Activities for Clients and Prospects

• First Year for Client

12-Month Marketing Calendar

5

The Marketing System is an investment

to protect your investment

MARKETING =

INVESTMENT or EXPENSE?

before sending

anything to clients

or prospects

Different and Better

High Impact

Long Shelf Life

Credible Source

QUESTIONSTO ASK…

Attract Additional

Assets/Insurance

Generate Quality Referrals

Improve Client Retention

Demonstrate Value Proposition

OUTCOME

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Pop-Up Cards!

7

Dear David and Mary,

Just thought I would send you a note to let

you both know how much I enjoyed

our meeting.

I appreciate the confidence you have placed in

me over the past 15 years. Please feel free to

contact me at any time.

All my best!

Sincerely,

Michael Morrow

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Book LibraryWhen you give clients a book from

your office library, you are perceived

as an expert on that subject.

10

Look

what

happens

when

people

share

your

name

Get in on the Game!Sports Pool = Weekly Client Contact

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anydate.com

birthdayandanniversarygifts.com

signature-gifts.com

49 Cents

12

Premium

Gifts for

Your

Best

Clients

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Doris and Murray McGuireFinancial Organizer

Robert WilsonFinancial Organizer

Micaela Morrow

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Micaela Morrow

Age 0: $100 per month6% projected rate of return

Age 18

$38,281

Age 20

$45,565

Age 30

$97,926

This illustration assumes a 6% rate of return. This rate of return

is for illustrative purposes only and should not be construed as

a guarantee of future performance.

Age 55

$488,242

Age 65

$890,694

• All I Ever Really Needed to Know

I Learned in Kindergarten

• 10 Rules Kids Won’t Learn in School

• The Five Ages of Can’t

• 22 Rules of Success

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before sending

anything to

clients

or prospects

Different and Better

High Impact

Long Shelf Life

Credible Source

QUESTIONSTO ASK…

Attract Additional

Assets/Insurance

Generate Quality Referrals

Improve Client Retention

Demonstrate Value Proposition

OUTCOME

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Baskets

17

18

19

Money

Caring

Need

Want

Trust

It’s Safer To Do thing

TELL me and I will FORGET.

SHOW me and I will REMEMBER.

Get me INVOLVED and I will UNDERSTAND.

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Insurance Newsnet Estate Planning Failures

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©2012 www.ideasforadvisors.com. All rights reserved. Used with permission

DEATH

DISABILITY

CRITICAL ILLNESS

RETIREMENT

EMPLOYER GOVERNMENTINDEPENDENTLY

OWNED

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The Loyalty Ladder

23

Framed Photos

Concerts and Lunches

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Trips with Clients

25

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4 Steps to Establish a Niche Market

1. Decide on your niche market

2. Position yourself as an expert in your niche

3. Set up a 12-month marketing plan

4. Master a systematized sales process