Welcome everybody! Welcome to the 383rd episode of the Monetary Advisor Success Podcast!
My visitor on right now’s podcast is Troy Sharpe. Troy is the Founder and CEO of Oak Harvest Monetary Group, an RIA primarily based in Houston, Texas, that oversees roughly $750 million in belongings below administration for about 1,000 consumer households.
What’s distinctive about Troy, although, is how his agency’s emphasis on driving natural development via a multi-pronged advertising and marketing technique, together with a radio present, in-person seminars, and most substantively and scalably, a YouTube channel, that has allowed the agency to develop its AUM from $85 million to $750 million throughout simply the previous 5 years.
On this episode, we discuss in-depth about Troy’s strategy to advertising and marketing, from how his agency has constructed a powerful prospect pipeline partially by taking academic matters he lined in his seminars and turning them into YouTube movies aimed toward his agency’s goal consumer of pre-retirees and retirees, why Troy sometimes doesn’t challenge instant calls to motion throughout these movies to get prospects, as a substitute preferring to construct belief with viewers over time and offering them a path of breadcrumbs to seek out their approach again to the advisory agency after they’re prepared, and the way Troy constructions his advertising and marketing efforts into what he characterizes as quick, medium, and long-term advertising and marketing initiatives, for which he targets an general ROI of producing 3 instances the {dollars} in new income for each advertising and marketing greenback spent.
We additionally speak about how Troy’s agency has employed a lot of advertising and marketing professionals to enhance the efficiency of its advertising and marketing campaigns, how Troy has additionally grown his advisor employees to fulfill the wants of the quickly increasing consumer base, and adopted a 3-advisor pods strategy to make sure purchasers have touchpoints with a number of advisors (and that advisors can focus their work on what they do greatest), and the way Troy created a system for his agency known as the “Retirement Success Plan” that encompasses their strategy to dynamic retirement earnings planning, incorporating each a consumer’s willingness and capability to take threat, after which producing a spending plan that adapts (and that the agency displays) over time.
And be sure to hearken to the tip, the place Troy explains why he believes that his agency’s skill to speak in a jargon-free approach that prospects can relate to is what’s actually driving his agency’s development (throughout all of the in-person, radio, and video channels it markets in direction of), how Troy discovered persistence and the have to be extra measured when committing to a brand new advertising and marketing technique that generally takes 6-12 months to actually begin to pan out, and the way Troy’s fixed development focus has typically led to a variety of self-doubt over whether or not he was over-investing and nonetheless not attending to the place he wished to be, and the way the guide “The Hole and the Acquire” helped to construct extra appreciation for a way far the agency has already come.
So, whether or not you are concerned with studying about leveraging YouTube movies to drive consumer development, find out how to measure advertising and marketing effectivity and set targets for the output of promoting spend or find out how to handle a quickly rising agency, then we hope you get pleasure from this episode of the Monetary Advisor Success podcast, with Troy Sharpe.