059: The Authority Advantage: Mike Saunders on Transforming Financial Advisors into Industry Thought Leaders

Million Dollar Producer Show

In this episode I welcome Mike Saunders, the author of Authority Positioning for Financial Professionals, to explore the concept of authority marketing and how it can significantly impact financial advisors' success.
Mike's Journey: From Financial Services to Authority Positioning

• Career Beginnings: Began his career in the financial services field, working for JP Morgan Chase in the mortgage banking industry. His path took a turn when he started providing lines of credit for financial advisors' clients, leading him to realize the importance of authority positioning.
• Transition to Marketing: After the economic crisis of 2007-2008, he pursued a MBA in Marketing and started his own firm, focusing on helping financial advisors grow their businesses through authority positioning rather than traditional marketing tactics.

Authority Positioning

• Understanding Authority Marketing: Mike explains that authority marketing isn't about replacing existing marketing strategies but enhancing them. By positioning oneself as a trusted expert, all other marketing efforts become more effective.
• Components of Authority Positioning: Mike describes the 'Authority Positioning Portfolio,' which includes various elements such as interviews, books, media features, and podcasts that collectively build a professional's credibility.
• Practical Applications: By creating content that educates prospects and existing clients, financial advisors can establish themselves as experts. Mike uses podcast interviews to delve into key educational points, which can then be leveraged in marketing campaigns.

Guest Podcasting and Media Features

• Importance of Guest Appearances: He highlights the value of being a guest on podcasts and media channels. These appearances elevate the professional's status and reach new audiences, reinforcing their authority.
• Strategic Alliances: Authority positioning is crucial in building relationships with centers of influence, such as CPAs and estate planning attorneys. Having a well-developed authority portfolio makes it easier to establish these valuable connections.

Zero Moment of Truth (ZMOT)

• Pre-Framing Prospects: The concept of ZMOT emphasizes the importance of what potential clients find about a professional online before making contact. A strong online presence with authority positioning assets can significantly influence their decision.
• Leveraging Current Clients: Beyond attracting new clients, authority positioning helps maintain relationships with current clients, ensuring they stay loyal and continue to trust the advisor's expertise.

Taking Action

• Overcoming Imposter Syndrome: Mike encourages financial advisors to overcome self-doubt and take steps towards building their authority. With services designed to be easy and enjoyable, professionals can quickly see the benefits of authority positioning.

About our Guest: Mike Saunders, MBA Authority Marketing Strategist
You can learn more about his work at: https://mikesaunders360.com/
Paul G. McManus is an accomplished author and expert in helping financial professionals grow their businesses. With over eight years of experience working exclusively with financial professionals, Paul has helped his clients generate tens of millions of dollars in fees and commissions.
Claim your free audiobook copy at: www.theshortbookformula.com

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Chapter

1. 059: The Authority Advantage: Mike Saunders on Transforming Financial Advisors into Industry Thought Leaders (00:00:00)

2. Authority Positioning in Financial Services (00:00:31)

3. Building Authority Through Content Marketing (00:07:52)

4. Elevating Authority Through Media and Podcasts (00:12:59)

5. Strategic Alliances and Authority Positioning (00:24:59)

6. Maximizing Marketing ROI With Authority (00:29:54)