Monday April 12, 2010RM Strategic Marketing Tips: volume 5
I hope you had a restful Passover and Easter. Now, it is time to get back to the grind. This is a critical time for many businesses. As I love to say, when the going gets tough, the tough get marketing. This month, Rich White has provided us with an awesome marketing tip for producers.
Rich White’s Marketing Tip
Retired people everywhere are asking the same question:
“Where can I find the yield I need to maintain my lifestyle, without taking much risk?”
Many financial firms and advisers see this as an opening to immediately offer their favorite product-du-jour. Not only is this a marketing mistake. It may be a regulatory violation, unless you probe deeper to understand investors well enough to uncover information and make suitable recommendations. My best idea is to answer this question with another question:
“Why do you think money market and CD yields have dropped so low, and have stayed so low for so long?”
This will help you understand more about not only the investor’s situation but also his/her level of investment experience and economic knowledge.
Retired people aren’t “yield poor” because of natural economic or free-enterprise forces. They are yield poor because the Bernanke Fed has engineered what was (just two years ago) a nearly unthinkable zero interest rate policy, otherwise known as ZIRP. Now, all retired people should rethink their income strategies and the potential to protect assets and income against inflation, or more government/Fed manipulation.
By asking the right questions and offering sound advice and suitable recommendations, you can be their guide to “the new ZIRP World.” In other words, don’t try to fight the disappointment and disillusionment of today’s senior savers and investors. It’s real and growing bigger – so plug into it!
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Introducing The Marketing Bootcamp Experience
As the economy continues to slowly rebound, this year’s college graduates are faced with a tight job market. Pedigreed graduates are competing with seasoned veterans for coveted job openings.
We at RM are excited to get started with our first Marketing Bootcamp. Our Bootcamp will run through the summer, and it will be a valuable opportunity for a recent grad to get down in the trenches. We also think it will be a great opportunity for us to see strategic marketing from a Millennial Generation’s point of view.
As part of the Marketing Bootcamp, a participant would be working with us on website content management, social media network marketing, writing, and giving their input on the look and feel of projects on the RM docket. As you will see in the coming months, this is not your typical “go get us some coffee” first job.
Interested applicants should send their resume to murraymarketing@aol.com.
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