Yes, this is an industry based on credibility, but it's also an industry over-populated by "Me Too!" vendors. Advisors are always sending me articles by otherwriters and consultants who are claiming to be the new expert on credibility marketing. I often see phrases that look remarkably like ones I wrote ten years ago.

I tell you this simply to give you the heads-up. Pay attention to the trainers, coaches and consultants who are claiming to know anything about credibility. Chances are,they don't understand it. I wish they did; it would help our industry. But my experience is, they don't have a clue.

If you want to raise the level of your success, it's a safe bet that you'll need coaching and training. The bad news for you is, many of the people doing that in theindustry are not prepared to really help you. The good news for you is that there is a pretty simple formula you can use to figure out if a vendor, coach, trainer or consultantis qualified to help you gain greater credibility.

What is credibility and how can you get it?

Let's start to answer this question by taking a look at a few facts about Credibility:

• Credibility is the result of a formula that (like magic) causes people to trust you.
• Fulfill the requirements of the formula and people will follow your recommendations.
• Credibility is NOT traditional marketing.
• The formula is: Competence + Character + Consistency = Credibility

The 3 Cs of Credibility – and what that means to you

The formula that brings credibility to financial advisors is cumulative. If you only achieve one C, you might achieve some credibility, but you probably won't be able to sustain it. If you prove that you also possess one or both of the other levels, you'll see greater credibility and realize the resulting increase in sustained success.

Competence

Every IMO claims to provide help with product training. Doesn't that help with Competence? Yes, but knowing the inner workings of many IMOs, I can tell you thatvery few of them can take you beyond competence in selling only their product. That is very different from actual competence in solving anyone's real-life problems.

Credibility Tip 1. Credibility through competence demands that you understand, empathize and sympathize with your client. Short questions that display your understanding of the client's situation help build your credibility. You want the client to think, "Gosh, this guy really understands my situation." Unfortunately, most of the time the client thinks, "Gosh, this guy just wants to sell me the product of the month."

A situation we see over and over again is reps in their first few years of business looking to sell a limited product line. For example, you might see everyoneas needing an annuity or long term care or even wealth management. If you enter the room as a "salesman," you'll probably see a lot of resistance. That'sbecause your prospects can sense that your agenda is to sell, rather than actually solve their problems. Not much competence there. Oh sure, you might be a competentsalesman, but that's got zero to do with credibility. Making a sale is about you. It's not about the client.

Credibility Tip 2. Can you be less than expert, and still be competent? Yes, but… It depends on your strategic alliances and how well youuse them. Bruce Wright intones the message of "Interdependence" at his seminars. In other words, form a partnership with someone who has expertise that youdon't. When you can use someone else's expertise on the behalf of your clients, you're more competent – if you facilitate the advice and service.

So, how can you prove your competence? In recent years, we've created a lot of white papers for our clients. I'd like to tell you about one.His name is Jeff, and he uses his white paper brilliantly.

Jeff provides alternative investments to his clients, namely he helps his clients buy investment real estate inside their IRA accounts. His white paper explainsthe process and also shows a graphic of the team required to complete this type of complicated purchase, then maintain the investment.

The point of my telling you about Jeff is to illustrate that a white paper is like a book. Your white paper can show you as an unquestioned expert in your specificfield. If Jeff tried to do business without the white paper, he would immediately bump into walls of resistance. And, he did before we wrote his white paper. Smartpeople read. Smart advisors provide them with targeted, appropriate material to read. This is how competence is turned into credibility!

Character

Your credibility is always filtered through your character. Remember all the politicians who claim one value but behave in a contrary way. That is the opposite ofcharacter. Financial advisors (like anyone else) can fall into that trap too.

Credibility Tip 3. Your success is directly tied to your values. When you keep your values in mind, you stay on track and work more effectively.Your values are also tied to your credibility. However, they can also invite problems.

Nearly every person I've ever met lists two values: family and honesty. Let's say those are your values, and your goal is to make a good living to take care of yourfamily. Would you sell a product that was less than optimum in order to make the commission? Would you hide the no-load product, even though it was clearly the best choicefor that client? Would you make promises of personal service to get a sale, knowing that you won't provide that service?

To make the wrong decision in any of those cases would be to sacrifice one value for a lesser one. Doing that would be evidence that your behavior was incongruent(or confused). And, that would mean that you had no credibility.

In their song "Golden Ribbons" from the mid-70s, Kenny Loggins and Jim Messina sang, "What does it avail a man to gain a fortune and lose his soul?" That says it.

The second aspect of Character comes from a separate formula. It's very simple:

Values X Action

Of all the training programs and speeches I've delivered over the seventeen years I've been speaking in public, my favorite is titled, "Unsung Heroes." In it, I explain that the above formula as the clear path to heroism – if it is applied on behalf of someone else. So, the full formula is: Values X Action = Heroism.

Want your children to see you as a hero? That's the formula. Want your parents to see you as a hero? Ditto. Want your clients to revere you? Ditto.

In "Unsung Heroes" I tell the story of my experience as a Ride Captain in the Patriot Guard Riders ( www.patriotguard.org ). This is a group of people, mainly military veterans who ride motorcycles. The group attends funerals for our men and women killed in Iraq and Afghanistan. We in the Patriot Guard Riders do not seekheadlines or praise. We do what we do because it is the right thing to do. We are taking action on one of our most important values.

Many of us are vets from the Vietnam war. We were treated very badly by our country forty years ago, when we returned or got out of the service. And, we swore that no one who had the guts to wear the uniform would ever have to endure that treatment again. We attend their funerals to provide support and security for their survivingfamilies. We honor the fallen hero and show respect to the surviving family. We display to the family that their son or daughter or parent is remembered as a hero.

Patriot Guard Riders

Credibility Tip 4. I tell you about the Patriot Guard Riders to illustrate a simple way you can take action on a value – if it's your value.Thing is, many people don't really know what their values are. If that's you, here are two tips for you:

1. Seek some coaching. You want someone who could help you understand your life purpose and your business purpose. You want someone who understandshow your mind is configured to know if your business model is congruent with your values. And, if not, how to adjust to bring greater peace to you and still allow you to prosper.
2. Attend just one Mission with the Patriot Guard Riders. You do not have to ride a bike; you can drive. You don't have to be a veteran. The only requirement is respect. You just show up. We'll give you a flag to hold and you'll stand silently in a flag line. During those long moments of silence, you'll have plenty oftime to think about the meaning of your life and what you stand for.

In Conclusion

Some people call me the "Father of Credibility Marketing." That's probably true considering when I first startedwriting about credibility, coaching it, and creating credibility strategies. However, credibility marketing is only one piece of the formula. I like to ask how credibilitymarketing fits into the bigger picture. Many advisors don't have a bigger picture. For them, credibility is just a gimmick. What is it for you?

Your Reward

Simple. If you want to save about $10,000 on a credibility marketing strategy, give me a call.