
How Personal Branding + Vulnerability Can Get You to “Yes” Faster
WARNING: This blog could make you feel a little bit uncomfortable. On the upside, it could also help you push your win rate toward 100 percent. Brace yourself and read on. We’re going to explain why personal branding and showing your vulnerable side through a personal brand “why story” is critical for building authentic, advisor-client relationships and getting to “Yes” faster. We’ll also provide tips on how to create and deploy your story to the world.
Key Takeaways
- 74% of Americans are more likely to trust someone with an established personal brand.
- 63% of people are more likely to buy from someone with an established personal brand.
- A personal brand “why story” that shows your vulnerable side can speed up client buy-in and significantly increase conversion rates.
- Your “why story” needs to align with your audience’s profile and needs.
- Personal branding and storytelling are especially important for virtual advisors.
- Incorporating humanity into your personal brand can set you apart from competitors.
What is personal branding?
Personal branding involves acting deliberately to communicate one’s personal beliefs, philosophies, ideas, expertise, talents, motivational insights and personality via various channels (social media, podcasts, live events, articles, books, websites, etc.), with the specific intent to generate interest in oneself and/or to generate business.
This is an abbreviated version of the personal branding definition Brand Builders Group included in their insightful report: Trends In Personal Branding (free to download). The report was based on a national research study Brand Builders Group conducted on personal branding that revealed why it’s critical for financial professionals and other entrepreneurs to cultivate a personal brand.
Why should financial advisors have a personal brand?
Having a personal brand helps build trust, something that’s incredibly important in the client-advisor relationship. Plus, people are more likely to pay for a product or service from someone whose personal brand aligns with their personal values, especially men.
The Brand Builders Group study revealed just how valuable having a personal brand can be in relation to trustworthiness and doing business. Get this:
- 74% of Americans are more likely to trust someone who has an established personal brand.
- 63% of survey respondents said they would be more likely to buy from someone with an established personal brand.
- Men are 10% more likely than women to engage with someone with an established personal brand.
If building trust with clients and growing your business matter to you, personal branding is a must. Now here comes the uncomfortable part.
Do I really have to be (ick) “vulnerable” with my personal branding?
“Yes! But not for the sake of being vulnerable,” says Deirdre Van Nest, a top-rated international keynote speaker, trainer, story strategist and artist, who works closely with financial advisors. Van Nest recently dropped by The Breakthrough Advisor Podcast, where she and Simplicity InsurMark SVP Randy Yost discussed the importance of being vulnerable and the type of story you should tell.
According to Van Nest, “Advisors are told, tell a story, be vulnerable. And they just randomly tell some story that doesn’t get them anywhere. We don’t want what I call gratuitous vulnerability. You don’t want to be vulnerable for the sake of being vulnerable. You want to be vulnerable so that you can move your listener forward. Because if you share an appropriate amount of vulnerability and your humanity, people are going to trust you more.
“And if they trust you more, they’re going to learn from you better and take your advice 100%.
That’s the only reason you’re doing this, right? And it’s a paradigm shift. This isn’t to be manipulative. As an advisor, this is to realize my job is actually to develop trust so that clients will take my great advice. I’ve got to use what’s at my disposal to build that trust and build it very quickly.”
Create a personal brand ‘why story’ to Increase conversion rates
Van Nest stands by this advice because it worked (and still works) for her and became a turning point for her in business and life. The purpose of the personal brand “why story” is to increase trust, connection and likability and do it very quickly. She found that tying your “why story” into why you care about the people you serve will allow you to “massively increase connection and buy-in.”
What is a personal brand “why story?”
According to Van Nest, “Your WHY Story is a story you share with prospects, clients, CIOs and team members about WHY you do what you do and WHY you care about the business you’re in. It is about WHY you help the people you help or the initiative you’re launching.”
Your story also needs to be a complete match with your audience. For example, you wouldn’t tell a multi-millionaire a story about why you’re passionate about selling term life insurance. (Van Nest shares her “why story” and other examples on the podcast, so definitely check it out.)
Need help figuring out your “why story?” You can request a FREE Storytelling Toolkit on Van Nest’s website, under STORY CREATION.
How, where and when should you share your personal brand “why story?”
The Brand Builders Group study revealed that the majority of people would rather work with an advisor who has an identified personal brand. “That means your humanity needs to be at the center of everything you do. It is going to be a reason why people choose you or do not choose you or choose your competitors over you,” Van Nest says.
She encourages advisors to share their personal brand “why stories” in person and in the various channels where they communicate with the public. This includes:
- Video and written stories on your website.
- Video link to send to your best clients when asking for a referral.
- During one-on-one meetings with prospects.
- During in-person presentations, seminars, webinars and speaking engagements.
Developing a personal brand and a “why story” is even more critical for virtual advisors. “If you’re virtual, you really want to make sure you build in the human elements because it’s even more important,” Van Nest says.
Does this “why story” approach really work? What about the 100% win rate you mentioned?
During the podcast, Van Nest shared a success story with Yost involving a Top 50 advisor she mentored, who is based in Dallas and works with very high-net-worth individuals. He tracked his results over 6 months and took his win rate from 85% to 100%. (If you think this approach isn’t sophisticated enough for your clients, think again.)
“During this six-month period of time, he added this strategy to his one-on-one meetings with prospects. He said, ‘Every person that came into my office as a prospect, they walked out a client as a result of me just adding this one simple strategy.” And he said his close rate before ranged about 85 to 90%, and during the six months it was 100%,” Van Nest says.
Conclusion
When you team personal branding with vulnerability you can accelerate your journey to success by increasing conversion rates. Crafting a compelling “why story” and strategically sharing it across various platforms, can help you build trust and forge stronger, more authentic relationships with clients. While it may feel uncomfortable at first, embracing this approach and letting your humanity shine through can help your win rate soar toward 100%.
Want to learn more about Dierdre Van Nest and how she helps advisors create their “why stories”? Visit her website here: CrazyGoodTalks.com.
Are you an ambitious advisor looking to build a more successful and sustainable 21st century advisory practice? Simplicity InsurMark has the products, marketing tools, training and mentorship you need to get there. To learn more, schedule a discovery call today.
As an ADO – Advisor Development Organization™, Simplicity InsurMark provides solutions to meet the ever-evolving needs of financial professionals with a mission to protect and enhance the financial security of every home in America.