Cell phones back then were used to make and receive calls which were two very simple functions.  Cell phones then evolved into texting and my confession is this confused me.  Being a writer I wondered why anyone would want to limit their message to only 104 characters?  Now, twitter (another new way to communicate) has taught me about the importance of getting to the point in 140 characters or less.

One of the biggest paradigm shifts when it comes to communication is the movement to social media as a means to communicate.  Over the past few years, I have chosen to learn it and embrace it as another way of communicating.

Those that fail to change

Recently, I got into a discussion with a group of people including a very successful financial advisor who is a father of two beautiful children and just a really great person.  When the topic of social media came up, he was not shy to share his opinion, “I think social media is just plain evil.  People are communicating but they are not conversing.  It’s cold and it’s just not good for society, family or business.”

This is a pretty extreme view of social media but I would suggest that social media is whatever you want it to be.  If you want it to be evil, bad and cold, then it can be.  However, I would also suggest that if you want social media to be fun, engaging, creative and warm, you can make it that as well.

Social media is what you want it to be

One of my favorite TED talk videos comes from Robert Sirota who is the President of the Manhattan School of Music.  This video really helped me to understand why social media is what you want it to be.

Social media has done great things for me.  My Retire Happy Blog was voted as the BEST CANADIAN PERSONAL FINANCE BLOG by the Globe and Mail.  Moneysense considers me to be one of the top 10 personal finance tweeters in Canada.  And I believe that social media has played a big role in increasing my revenues and growing my business significantly in the past couple of years.

I started with blogging as a means to express my opinions, share my research and knowledge with others and continue writing once my gig with the Edmonton Journal ended.

I then started a twitter account (@jimyih) and quickly realized that you can expand your readers with twitter and only 140 characters.  I then created a facebook page (RetireHappyWithJim) and reached out with Linkedin which allowed me to reach more people.

I then experimented with YouTube as another means to reach people.  I added some of these videos to my blog posts to try and enhance my readers experience on the site.

I then bought a Wacom tablet and started to draw simple concepts on an electronic whiteboard, just like I do on a flip chart in my Workshop.  I started to include these images into my post to try to enhance the message and allow people to learn visually.

Then Pintersest came along and it was a means to share my drawings and other cool infographics and visuals with others.

What’s my point?

My friend has created his future with his decision to fight one of the biggest turning points in communication.  Others have chosen to embrace it.  What’s your stance?

In the video above, Robert Sirota talks about Marshall McLuhan who was born a hundred years ago. McLuhan said: “The medium is the message.”

The medium shapes the message and colors the message in various ways.  It’s not the words that matter, it’s the message and the delivery and context that makes all the difference.  When you realize this, you will realize how powerful social media can be.

There was a time when the cell phone was evil, along with texting and communicating by email.  There was a time when credit cards were scary until they became mainstream.  There was a time when online banking was so risky and now it’s the norm.  Even my 81 year old father is on Facebook, doing online banking and emailing me on a regular basis.  If he can do it, I would suggest it’s time to stop fighting it and get creative about ways to use social media to your advantage.

The post Get creative about social media communication! appeared first on Advisor Think Box.

This particular session was delivered to a group of successful financial professionals.  Some were traditional financial advisors and others really focused on group benefits and pensions for companies in Canada.  None-the-less, social media has not been easy to adopt for the financial community because of both tradition and regulation.

Anyhow, I think the reason @Ambermac has been successful is because she has taken the bizarre language of social media and brought it down into her compelling 10 keys:

1.  Create a Social Media Policy
2.  Be Authentic
3.  Be Original
4.  Be Consistent
5  Choose your tools
6.  Be mindful of your digital reputation
7.  Measure Analytics
8.  Take care of your website
9.  Go Mobile
10.  Watch for the trends

A few other quick facts from Ambermacs presentation:

• Canadians spend more time on the internet than other countries
• We view 147 videos per month per person on YouTube
• There are over 17 million Canadians on Facebook (which is 51.2% of the population)
• The fastest growing user group on Facebook is 55+ women
• There are over $2 billion tweets every month
• The Motorola brick phone back in 1986 cost about $4000

My two cents

I embraced social media at the beginning of 2011 and after 6 months, I can’t help but agree with Amber’s points.  My favorite line from her presentation is: “Social Media is not HARD but it is HARD WORK. Anyone that tells you otherwise is lying.”

My twist on Social media is like anything else it’s one of those things that you will get out, what you put in.  If you don’t put much into it, you probably won’t get much out of it.  But at the same time, the more you put in, the more powerful it becomes.

The way I adopted social media is I took it in steps.  Just like babies learn to crawl before walking and walking before jumping and running, Take social media in steps and learn ways to adopt the opportunity.  I started with twitter and if you want to follow me @jimyih, I’d love to hear from.  I then moved to a facebook page and now I am trying to learn and understand linkedin.

The bottom line is this . . . change is inevitable.  It’s already started and it’s not going to stop.  You can look at this as a time waster or the opportunity to evolve and grow not just as a business owner but as a parent, a friend, a colleague and a person.  Good luck in your evolution and development.

The post 10 Keys to Social Media for Financial Advisors appeared first on Advisor Think Box.

What is search engine optimization (SEO)?

Search Engine Optimization is simply the use of various techniques to improve a web site’s ranking in search engines in the hopes of attracting more visitors.

There are many Search Engine Optimization (SEO) tips that are not only good for search engines but they are very helpful for people looking for and perusing through your website. Here are nine SEO tips that can help search engines and visitors love your site.

1. Keywords and Research

If you choose the right keywords for your homepage and your internal pages, blog posts, etc., you will be helping visitors find what they are searching for easier. The best way to do this is to think of a keyword that fits your page, then a 2 – 3 word phrase that fits including that keyword. It’s really as simple as that.

Keyword Resources

• Google Adwords Keywords Tool
• Google Insights (plus ideas on how to use Insights)
• Microsoft Advertising Intelligence plugin for Excel (plus how to use it)
• Popular Searches
• Anchor text

2. Titles

The title tag is important because it is the heading for search engine listings and it is usually the anchor text when people bookmark your homepage, blog post, or single page on your website. The easiest way to create a title for your page is to include the keyword phrase you thought of during keyword research and include it in the up to 70 character description of your page.

Title Resources

• Title tag best practices
• Creating Killer headlines
• All in One or Platinum SEO for WordPress

3. Meta Descriptions

The meta description is essentially your sales pitch for your page when it comes up in search engines. It is also usually the description that is picked up when people bookmark your site socially. To create a good meta description, create a short sentence or two under 155 characters that includes the main keyword phrase for your page.

Meta Descriptions Resources

• Ultimate guide to meta descriptions
• Meta description best practices

4. Header Tags

Header tags break up your page into easily digestible sections to help readability. Think of your page’s content in outline form – the header tags break up each main section of your text. Header tags should include keyword phrases you would like your page to rank for.

Also, note that the text right after your header tag can play a significant role. For example, I had an H3 header in one of my recent posts that said Most Valuable Guides (not the best keywords, but bear with me). In search results, without any other optimization, link building, etc., search engines pick up that phrase as follows:

So needless to say, header tags are valuable and need to be optimized as well as careful consideration given to the first sentence after the header tag as well.

5. Images

<img src="seo-optimized-image.jpg" alt="A SEO Optimized Image" title="A SEO Optimized Image" />

To get the most out of your keywords and help break up text for visitors with something eye catching, be sure to include an image in your post with keywords in the filename, alt text, and title.

Where does the alt tag come into play outside of SEO? If you were visually impaired and using a screen reader, the alt text would be read to you by your program.

Image Resources

• SEO optimizing images.
• Creative Commons and Flickr image search
• Image copyright laws
• SEO friendly images WordPress plugin

6. Internal Linking

Once people get on your site, you want them to stick around and find more relevant content. Using internal linking will help them learn more about what your site has to offer, especially if you are using the right anchor text as a guide.

Internal Linking Resources

• Never use nofollow on internal links
• SEO Smart Links WordPress plugin

7. Link Building

So what benefit does link building have to offer potential visitors without mentioning any SEO benefits? When I am seeking out link building opportunities, I find that pages already offering their visitors resources for a particular topic. Link building is simply offering another site’s visitors more resources to choose from for more options.

Link Building Resources

• Top 100+ link building resources.
• Link building for beginners.

8. Social Media

Social networking allows you to really connect with your website’s audience, which helps you learn more about their needs and create content, product, and services that will really appeal to them.

In link building, even though Twitter, for example, only gives you nofollow links, someone who sees your link through Twitter may like it so much that they link to it in their blog or elsewhere on their website, which essentially means that nofollow social media link turned into a dofollow one.

Also, it’s not just the social networking you do – it’s the social sharing you make possible. Installing buttons or widgets to make your site more socially sharable makes it easier for your visitors to tell the world about you!

Social Media Resources

• Top social media blogs
• Social media snapshot series: your hub, content, network, and impact, plus creating a dashboard on a spreadsheet.
• Add This, Add to Any, and WordPress plugins

9. Guest Blogging

Last but not least is the ever popular guest blogging. If you have expertise that others would benefit from, then guest blogging will help you share that knowledge with an even wider audience. If your visitors are also bloggers, you can even help them by guest blogging on their site, sending some of your visitors in their direction. The benefits to doing both of these (the right way) are really exponential in helping establish yourself as an authority in your industry.

Your Thoughts on Search Optimization for Visitors

What ways do you optimize for SEO with your visitors in mind, and what tools and resources would you suggest to help other website and blog owners to do the same?

The post 9 Search Engine Optimization (SEO) Tips for your website appeared first on Advisor Think Box.

I think innovation is important but at the same time, I think most success comes from repeating things that are working.  In fact if I apply my 80/20 rule (Which I do to a lot of things), 80% of your success comes from repeating things that have a proven track record of working.  This is called a system.

A system is simply repeating a process that works, over and over again.

Cook with Recipes

Do you have a favorite recipe?  For me, I have Steak Neptune recipe that has garnered a lot of attention.  It’s the Neptune part of the recipe that makes the meal special.  If you think about it,  recipes are a good example of systemization.

ACTION ITEM – In your business, you probably have systems in place that are working and may not even know.  Part of good business planning is taking some time to recognize what is working for you.  Ask yourself this question:  What really worked well for you in the past year?  Was there a system around this success?  If not, then take the time to write down a process that can recreate this success.  If there was a system, ask yourself if the process can be improved?

Tweaking systems from time to time

My Neptune recipe has been a work in progress.  The first time I tried the recipe on some guests it was a hit right off the start.  I’ve made that same recipe for a number of guests now about a dozen times and I’ve tried tweaking the recipe from time to time.  Sometimes my tweaking worked and sometimes it did not.

Although systems may be working fine, there’s nothing wrong with trying to improve upon the process.  Remember, there’s always room for improvement.

Innovation is taking ‘old’ ideas and making them ‘new’ to you

In my opinion, there is not a lot of true innovation out there.  Most innovation is simply taking someone else’s old idea and making it a new idea to you.  One of the things I try to do every year is to try at least 3 new things.  Last year I delved into social media.  This year, I am going to jump into the world of video blogging.  These are not new things, they are just new to me.  How many ideas are simply old ideas that are refreshed?

ACTION ITEM – Did you try anything new in the past 12 months?  If so, take the ones that worked and turn them into a system or process.  If these new things did not work, ask yourself why and then make a decision to either stop doing them or give it a tweak and a little more time.  When you are planning your business, what new things are you going to try in the next 12 months?

Early in my career, a good friend told me the importance of working smarter by simply repeating things that work and avoiding things that don’t work.  I think this captures the essence of why putting systems in your business are important.

Good planning is about recognizing the things that are working and the things that are not working.  When you know what works, turn it into a process and repeat over and over.  A business with good systems can’t help but be successful.

The post Systemize your business appeared first on Advisor Think Box.

One of my goals in 2011 is to try to have less than 100 emails in my inbox at any given time.  The only way that is going to happen is if I deal with the emails right away instead of procrastinating.  For this reason, I found some email tips from Greg Habstritt, Founder of Simple Wealth and Engaged Entrepreneur, which I thought I would summarize, and share with you.

1. Stop using your inbox as a storage box.  It’s called an ‘inbox’ and not a ‘storage box’ for a reason.  Once you have dealt with an email, move it out of your inbox immediately.  For me, I’ve created some folders for emails that occur regularly.  For example, I have a folder for “reader response” because I get a lot of people emailing me with general finance questions.  I have another folder for “media requests” when I get requests for media interviews.  I have another folder called “Website project 2010” because I get a lot of emails on a big project I am working on and this way all correspondence for this project goes into one folder.  For any emails that do not fit into my 12 main folders, I have an archived folder that is automatic in my email program.  So when I am done with an email, I either move it to a folder or just press the archive button and it is gone form my inbox.
2. Use ”Rules” and “Filters” to move non-important emails to a separate folder that you will review when you have time.  Personally I have a “To Read folder but I have not really utilized automation to sort or file this stuff for me.
3. For those of you with a lot of emails now in your inbox, Greg recommends that you archive all your emails and start with a clean inbox.  I did this with 2010 and took some time this week to try to deal with some of the more urgent archived emails.  By doing this it has forced me to deal with emails that may not have been urgent at the moment but still needed to get done.  It feels good to start crossing these nagging to-do’s off the list
4. Turn your “NEW MESSAGE” notification off.  This was an easy one for me because I did this a long time ago.  I found the new email alert too distracting.  Temptation always pulled me over to check every new email that came in.  When I shut the notification off, I was in control of when I wanted to check emails instead of the email controlling my time.
5. Only check emails when you schedule it in.  Greg recommends checking emails 2 to 3 times a day for 15 to 20 minutes each time.  I must admit I do not do this and don’t feel like it’s a priority to schedule a specific time to check emails.   All I try to do is finish what I am working on before I check emails.  When I had my email notification alert on, I found myself leaving a project to check and email and even if it took a few seconds to check the email and come back, it disrupted my flow and thoughts.

Email is a big part of communication.  It can run your life so it’s important to find strategies to make sure it does not become overwhelming.  What strategies work for you?  And what strategies don’t?

The post 5 Ways to Prevent Email From Killing You appeared first on Advisor Think Box.

For example, one of the ways to drive revenues and make your website profitable is to sell books.  It does not have to be your own book but it could be your favorite books.  You see this all the time.  There are so many books in the marketplace that people don’t know what to choose?  Too much choice has paralyzed people from making decisions.  As a professional in the financial industry people love to know what like to read.  People love seeing what other people are reading.  It’s an endorsement or testimonial.

Another idea is to market other people’s seminars, tools, book through affiliate programs.  Remember, it’s not just about making money, it’s about providing a worthwhile service or product to your clients.  Make sure it’s something you believe in.

In the end, we may not sell books, or seminars but we are still selling ourselves and our services.   Paypal came out with 5 Tips that can boost online sales. Although the list is geared to direct selling on the internet, indirect sellers can also benefit.

I thought this was a great list of tips.  If you are interested, I would encourage you to click on the link because they have some graphical examples but here’s the quick list:

1. Do make calls-to-action (CTAs) obvious

2. Do use an action colour for buttons

3. Do use the principle of proximity to group related items

4. Do control the flow in your design

5. Do use whitespace

Although these tips are great for e-commerce websites, these are great tips for any website.

The post Are you selling something on your website? appeared first on Advisor Think Box.

Trying to get your message to people becomes increasingly harder because of the increased stimulus in the market place.  Here’s three quick tips for marketing during the busy holiday season:

• Keep your messages short and meaningful – Less is more.  People are busy and long emails or pitches will often get tosses.  Keep subject lines between 10-25 characters in length, concentrating on words that will encourage your customers to take action.  Really focus on your use of words.

• Make it personal – Rather than blast something out to everyone, try to create customized messages for target groups of people.  Try to segment your list of contacts based on any number of different criteria.  Pick a group of people that have bought the same product or service in the past 6 months and delivery a special message for them.  Or maybe you have your top clients, why not create a special just for your best clients.  However you choose to differentiate, differentiate.  Your customers will appreciate the personal touch.

• Plan a Sending Schedule – Sending messages at the right time is just as important as sending the right message.  I’ve struggled with this on Twitter because Twitter messages are not that sticky.  For example, If may be better to send messages in the morning for early birds who get up early to get things done.  How many people check emails and messages at lunch break?  I’ve noticed that twitter activity picks up around lunch time so some people like to do some reading then.  Create a well thought out sending schedule that incorporates the day of the month, the day of the week and even the time of day.  Make a schedule and stick to it.  (Don’t forget to analyze your campaign later to see what was most effective).

Although these message tips might be timely for the holiday season, they are also great tips no matter what time of year it is!  Happy Marketing.

The post Email Marketing for the Holidays! appeared first on Advisor Think Box.

Success without planning

Confucius said “Any road will get you somewhere”.  The question is the road that you are on, the one that will get you to where you want?

I’ve met a lot of successful people who do not plan.  The work hard in the business but never spend any time working on the business.  Imagine how much more successful these people could be with a little planning?  The problem is success means different things to different people.  For some success is about making as much money as possible;  for others success is about growth; some value balance and time with family.  Whatever the case may be, to have a plan, you need to start with a vision.

That’s why I always ask business owners to think about their business to try to describe what the business would look like in 1 years time to be more successful.   To do the planning properly, you will also need to ask yourself the same question for 3 years, 5 years and event 10 years.

The secret to success

How many times have you set a goal and forgot about it?  Goals are meaningless unless you actually takes steps to make them happen.  I’ve always said the best idea is the implemented one.  There is no shortage of goals just like there is no shortage of great ideas so the secret to success is implementation – or in the words of Nike . . . Just Do It!

Doing something is better than nothing.

Implementation is what makes winners.  Implementation is the difference between exceptional and mediocre.  Implementation requires a few key ingredients:

1. Change. The definition of insanity is doing the same things over and over again and expecting different results.  If you want different results, chances are you need to so something a little different.
2. Conscious awareness.  It’s is critical that you take action but equally critical that you take action on the right things.  This happens when you are consciously aware of your goals, your plans and your actions.
3. Discipline.  Habits are hard to break.  Both good habits and bad ones.  Without discipline, it is so easy to fall back into ‘comfortable’ habits of the past.  Part of making change happen is having the discipline to carry it through.

Planning is all about making the future as predictable as possible.  To do that, you must look into the future to not only see where you are going to more important to define where you want to go.  Take some time in your busy lives to work on your business by establishing some goals and vision for the future.

The post What will your business look like one year from today? appeared first on Advisor Think Box.

I have 4 young children and I spend a lot of time reading books with them.  Recently, I pulled out a Where’s Waldo book and went through some pages with them.  If you’ve never heard of where’s waldo books, the goal is to look for Waldo in a picture filled with lots of people.  Here’s an example:

A couple of things happen with my kids that I think relate to the real world:

1. Know what you are looking for? Before you start looking for Waldo, you need to know what you are looking for.  In the Where’s Waldo game, Waldo has a few distinct characteristics – Red and White Stripes, matching hat, blue pants but the real unique characteristic is his buggy eyes.  Take some time to really put yourselves in the shoes of the client and see what they see.  What are they looking for in an advisor?
2. If it’s not easy, you might give up.  A couple of my kids gave up before finding Waldo.  If it’s too hard to find what you are looking for, then people tend to give up.  This is the world we live in today – an impatient world or what I call the NOW society.  If it’s not easy we move on.  We’ve all got other things to do.  As an advisor or business, you can learn from this.  Just remember, If it is too hard to find you, they won’t.  You need to make it easy and branding and marketing are the keys to being found.

Developing your value proposition

When I had my practice, my value proposition was “Helping people retire happy.”  I built an entire brand around my value proposition as I wanted people to know that I specialized in retirement planning and preparation.  My target market was the 50 plus people who were in the final stages of getting ready to retire or those that were already retired looking to manage their retirement income and lifestyle.

Today, I am re-branding my new business which focuses on Group Benefits, Group RRSPs, Pensions and Financial Education in the Workplace.  As I do this, I realize the importance of defining my value proposition so I thought I would share with you the excersize I use to help me define it.

1.    What makes you different and unique?

The very first step is to brainstorm.  Try to come up with lots of things that might make you different and unique.  Once you do that, take a step back and really thing about your list.  Are there things on your list that sounds cliché?  Search the internet at other advisors and see if they are saying the same things:

• “We deliver exceptional service”
• “We shop the market for the best products”
• “We custom tailor portfolios to your individual needs”

If everyone else is saying the same thing, then it’s not unique and different.  The problem with clichés is they are too general.  Really try to get to the root of your uniqueness.

One you have done that, circle your top 3 or 5.

2.    What’s in it for your clients?

This next step it to get you to think in the eyes of your clients.  In other words, it’s about thinking of “You before Me”.  True success comes in your ability to put yourself in the shoes of your client.

3.    Why do your clients need your products and services?

This is similar to the second point.  Put yourself in the shoes of your clients and try to come up with their biggest problems.  You can come up with solutions, services and products but if you don’t know the problems first, you may have the wrong solutions.  One of the best ways to put yourself in the shoes of your clients is to simply ask them the question.  Call a few of them up and take them out for lunch and try to ask them what they think is important when looking for a financial advisor?

4.    What is the primary reason someone works with you?

You can try to answer this yourself but I would suggest you ask your clients.  Build this into a testimonial gathering exercise.  You might be surprised at what you hear.  The key word in this question is “Primary”.  At this stage in the exercise, you are really trying to narrow down your key value.

5. If you had 10 words, why would people buy your products or services?

If you’ve made it this far, answering this question will be a lot easier than if you tried to tackle this question right at the start.  The best value proposition is short, sweet and to the point.  Your goal is to find 10 words that capture your uniqueness.

As I said from the start, I’m not sure any business can take it to the next level without really thinking about their value proposition.  It’s going to take some time, It’s going to take some work, It’s going to require some soul searching and thinking.  But in the end, it will be worth it!  It’s all about being Waldo and standing out in a sea of advisors.  how can you stand out and get noticed if you don’t know what makes you unique.

The post Where’s Waldo? Developing your value proposition appeared first on Advisor Think Box.

There are a lot of different definitions of marketing but for me, marketing is simply communication.  Marketing is the process and strategies to let clients and potential clients know about your products and services.  It includes the sales process but is also bigger than just the sales process.

Traditional marketing strategies included communication through radio, print and television.  When I first started my business, I utilized print media as a key marketing strategy.  We held ‘FREE’ retirement workshops and to get people to attend, we spent money putting ads in a couple of the local newspapers.  Print advertising was fairly costly given each ad was roughly $500 to $1500 per ad.  The nice thing about print advertising is it tends to be sticky.  In other words, people can cut out the ads and keep them unlike radio or television.  I also explored some radio marketing on one of the local talk to the experts programs.

That was over 10 years ago.  If I started the business again, would I stick with traditional forms of media marketing like newspaper ads and radio?  Some argue that traditional media like print is dying a slow death given the massive growth of new media outlets like the internet and it’s applications like Facebook, Twitter, Linked in and YouTube.

Is the internet and social media the new future of marketing?

The answer is probably yes but that also does not mean that traditional forms of media will die a slow death.

The internet and social media have created a whole new set of tools for marketing.  On one hand, social media strategies can have a huge reach and can be much more cost effective than traditional media forms.

On the other hand, social media can have too broad of a reach and you may not have to spend money but you may find that you waste hours and hours because social media is ‘noisy’ and distracting.

I think social media has taken a bite out of the market share of traditional media but I’m not sure traditional media is dead.  There was a time when TV came along and then a lot of people thought that would be the end of radio.  Not only has radio survived but it has evolved into other streams like satellite radio.  Some thought the internet would crush television but TV is still as strong as ever.  There’s no question TV, radio and print have had to adapt and change with the massive growth of the internet and social media but it is far from being a dinosaur.

Make a choice

If you have to choose, neither is better or worse.  They both have pros and cons to any business.  The challenge is more choice means more confusion.  If you add in other marketing strategies like referral programs, seminars, networking, writing books and articles, etc we have so many marketing tools to choose from.   It’s much easier making a decision between 2 or 3 choices as opposed to 10 or 15.  Regardless, a choice needs to be made.  Pick a few strategies (more than 1 and less than 6) and stick with it.

Success comes in developing a plan that includes a multi-tool marketing approach that might include some traditional media, some web based marketing strategies and maybe some other strategies.  Find a way to coordinate the marketing into an integrated approach.

The post Is Traditional Media really old news? appeared first on Advisor Think Box.