By Nicholas Hamner
Investment Advisor Representative
[email protected]
A few months ago, a lady in our neighborhood posted on Facebook saying she had made too much bread and asked if anyone would be interested in a loaf of sourdough. We paid our $10 and gave it a shot.
I have three years of food & restaurant journalism experience under my belt, and I can say without a doubt that it was and is the best bread I’ve ever tasted. Just a few weeks later, there’s a two-week wait to buy her bread and a month’s wait if you want cinnamon rolls (you want cinnamon rolls). Her early customers told anyone who would listen how good her breads were and they listened. Then they told their friends…
“Word of mouth is king” is one of those universal truths that has seemingly existed forever, like “measure twice, cut once” and “don’t mess around with Jim”.
Looking at the world at large, other than inside public libraries and your own eyelids, it’s hard to look around and not see an ad somewhere. But some companies still succeed without spending a dollar on advertising. Have you ever seen an ad for Tesla? Ever skipped a commercial for Costco? I have never seen a Rolls-Royce ad but I know plenty of people who want one. And I have never heard a jingle on the radio for Trader Joe’s but I find myself stopping in anytime I see one. Same with Krispy Kreme.
What is it about these companies that allows them to exist—and grow—without spending on advertising? It’s their service, their reliability, their goodness… it’s what makes them them. They are doing something so well, so uniquely, that they transcend their competition. No one makes a doughnut like Krispy Kreme or a car as stately and reliable as Rolls-Royce. Their customers know it, their customers appreciate it… and their customers talk.
Having been at Franklin Retirement Solutions for as long as I have, I have researched every other company in the area that claims to offer retirement planning. I know what we do well. I know what they do. I know how unique our service offering truly is amongst the local companies reheating canned responses and vendor-produced whitepapers as part of their service. And I know how we stack up against the big guys advertising “low fee/no fee” everywhere, conveniently assuming their base won’t realize what else they have none of. More importantly, I hear from our clients all the time at special events, at lunch & learns, and in the lobby how well you know us compared to our fellow advisors. And I know how much you appreciate us and understand the value we provide.
If you had an amazing doughnut, how many people would you tell? How many people would you tell while you were still eating said doughnut?? A doughnut lasts five minutes, tops (never mind the “lips/hips” argument) and even the worst doughnut you’ve had in your life was still the best doughnut you had that day. Conversely, your retirement could last 20, 30, or 40 years and you only get one shot at it. How many people have you told about the company making sure you’re ready for all 40?
Like I said before, word of mouth is king.
If you’re singing our praises to your friends and family, we appreciate it. We look forward to offering them the service and value we provide to each and every one of you. If you haven’t found the right time to tell anyone about us or don’t have anyone close by to tell, you can always leave us an online review.