Advisor Marketing Made Simple: Episode Summary

Episode Title: The Fastest Path to Growth: Leverage Other People’s Audiences
Release Date: January 29, 2025
Hosts: Taylor Schulte and Kendra Wright

In this enlightening episode of Advisor Marketing Made Simple, hosts Taylor Schulte and Kendra Wright delve into one of the most effective strategies for financial advisors seeking rapid growth: leveraging other people's audiences. Drawing from both their extensive marketing expertise and real-world experiences, they provide a comprehensive guide to implementing this strategy successfully.

1. Introduction to Leveraging Audiences for Growth

Taylor begins by addressing a recurring question from financial advisors struggling to identify the most impactful marketing strategies. He references a pivotal tweet by Samantha Russell from 20 over 10, where she posed ten marketing-related questions to understand advisors' pain points. Notably, Jess Bost, a financial planner and VP of brand partnerships at Alpha Architect, highlighted a critical follow-up:

“Which one of these, if embraced, has the most impact on generating new business?”
— Jess Bost ([03:30])

This question underscores the common dilemma advisors face in prioritizing their marketing efforts for maximum return on investment.

2. Understanding the Marketing Funnel

To address this, Taylor introduces the concept of the marketing funnel, a strategic framework essential for evaluating and implementing marketing activities. He breaks down the funnel into three distinct layers:

a. Top of Funnel (Awareness)

Activities aimed at building visibility and attracting ideal clients, without the immediate goal of conversion. Examples include:

• SEO (Search Engine Optimization)
• Paid Advertising
• Social Media Ads
• Direct Mail
• Cold Calling

“The purpose of those activities is not to generate new clients. The purpose is just to simply build awareness and get visibility with your ideal client.”
— Taylor Schulte ([09:22])

b. Middle of Funnel (Trust Building)

Focuses on nurturing relationships and demonstrating expertise to build trust with potential clients. Activities include:

• Educational Content (e.g., podcasts, webinars)
• Email Marketing
• Content Marketing

c. Bottom of Funnel (Conversion)

Dedicated to converting nurtured leads into clients through a structured sales process. Taylor shares his firm's three-step process:

1. Introductory Phone Call
2. Discovery Meeting
3. Presentation and Proposal

“At my firm, it's a three step process that starts with a short introductory phone call, then moves to a discovery meeting where we collect some key documents from them and learn more about their situation. And then it ends with a presentation and a proposal.”
— Taylor Schulte ([07:30])

Taylor emphasizes the importance of tracking and refining each stage, noting his firm's success in converting over 60% of prospects who complete the entire funnel process into clients, resulting in substantial recurring revenue.

3. Taylor Schulte’s Personal Marketing Funnel

Taylor shares a detailed example of his own marketing funnel to illustrate the practical application of these concepts:

• Top of Funnel: SEO targeting the keyword "retirement podcast," aiming to increase visibility through Google searches.
• Middle of Funnel: His podcast, The Stay Wealthy Retirement Show, serves as an educational tool to build trust and showcase expertise.
• Bottom of Funnel: A sales page offering a free financial assessment or a paid retirement and tax plan, guiding prospects through the conversion process.

“The goal with that paid plan is to give them a chance to see us at work, how we're going to solve their specific problems and answer their big questions before they commit to working with us on an ongoing basis.”
— Taylor Schulte ([12:45])

This structured approach has enabled Taylor to generate significant new business, demonstrating the effectiveness of a well-defined marketing funnel.

4. Answering Jess Bost’s Inquiry: The Most Impactful Strategy

Returning to Jess Bost’s question about identifying the most impactful marketing strategy, Taylor offers a decisive answer:

“The marketing strategy that has the most impact on generating new business as quickly as possible with the least amount of resources required is educating your perfect client through someone else's established platform.”
— Taylor Schulte ([13:15])

He advocates for utilizing established platforms such as podcasts, blogs, social media accounts, YouTube channels, and webinars to reach broader audiences without the heavy investment of building one’s own platform from scratch.

5. Five Key Requirements for Successfully Leveraging Other People’s Audiences

Taylor outlines five essential criteria to maximize the effectiveness of this strategy:

a. Own a Specialty

Focus on a specific niche to establish authority and differentiate from competitors.

b. Choose the Right Platform

Select platforms where ideal clients are already engaged and where the advisor feels comfortable.

c. Clear Messaging and Topics

Ensure each appearance or contribution addresses a specific problem and showcases expertise without veering off-topic.

“We want to use that short time that we have to prove that we are an expert in solving a very specific problem for a very specific group of people.”
— Taylor Schulte ([14:50])

d. Single, Clear Call to Action (CTA)

Avoid vague prompts; instead, direct the audience to a specific, actionable next step.

“We specialize in helping retirement savers over age 50 lower their tax bill. In fact, we offer a free tax analysis. To learn more, go to freetaxtanalysis.com.”
— Taylor Schulte ([15:30])

e. Build Authentic Relationships

Foster genuine connections with platform owners to create ongoing opportunities and mutual benefits.

6. Personal Implementation and Results

Taylor shares his own success story to illustrate the strategy's potential:

“Last year when I joined as a guest on the New Retirement Podcast we had roughly 16 of their listeners reach out to our firm after my interview, seven of them go through our Bottom of the Funnel process in its entirety, and four amazing families become clients from one single interview.”
— Taylor Schulte ([16:10])

Additionally, a portion of the podcast audience subscribed to his own podcast, indicating the strategy’s dual impact on both awareness and trust building.

7. Accelerating Success When Time is of the Essence

Acknowledging that building relationships and credibility can be time-consuming, Taylor offers strategies to expedite the process:

• Leverage Existing Relationships: Utilize current connections to gain introductions to larger platforms.
• Prioritize Audience Quality Over Quantity: Focus on platforms with highly engaged and relevant audiences.
• Master Cold Outreach: Invest time in perfecting cold emails or messages to secure guest appearances more efficiently.
• Consider Professional Assistance: Engage outreach agencies to facilitate connections, though noting the associated costs and the importance of finding agencies that prioritize quality over quantity.

“What took me two years could take you two months.”
— Taylor Schulte ([17:02])

8. Conclusion and Takeaways

In wrapping up, Taylor emphasizes that while leveraging other people’s audiences is a potent strategy, it requires dedication, authenticity, and strategic execution. Kendra and Taylor encourage listeners facing marketing challenges to apply these insights and consider their unique business contexts when implementing the strategies discussed.

“Successful marketing takes time, patience, and consistency.”
— Taylor Schulte ([16:34])

For advisors interested in further exploring this strategy or seeking personalized advice, the hosts invite them to join their email list or participate in future advice line episodes, fostering a community of learning and growth.

Key Takeaways:

• Leverage Established Platforms: Utilize the audiences of established podcasts, blogs, and social media channels to rapidly increase visibility and build trust.
• Define and Utilize the Marketing Funnel: Clearly understand and implement top, middle, and bottom funnel activities to create a structured and effective marketing approach.
• Specialize and Communicate Clearly: Focus on a specific niche and ensure all messaging is clear, targeted, and action-oriented.
• Build Authentic Relationships: Develop genuine connections with platform owners to create sustainable and fruitful marketing collaborations.
• Be Strategic and Patient: While strategies like leveraging other people’s audiences can accelerate growth, they require strategic planning, patience, and consistent effort to yield significant results.

By adhering to these principles, financial advisors can streamline their marketing efforts, achieve sustainable growth, and ultimately better serve their clients.