Ep 383: Leveraging YouTube Videos To Organically Grow 9X To $750M In Just 5 Years with Troy Sharpe
Apr 30, 2024
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Troy Sharpe, CEO of Oak Harvest Financial, shares how he grew AUM from $85M to $750M in 5 years using YouTube videos. He focuses on trust-building, ROI, and scalable marketing strategies. Topics include team expansion, pod system for client interactions, and 'Retirement Success Plan' for dynamic retirement planning.
Utilizing diverse marketing strategies such as radio shows, seminars, and YouTube can lead to exponential growth in assets under management.
Converting educational seminar content into targeted YouTube videos builds trust with viewers over time, prioritizing value over immediate sales pitches.
Focusing on a 3:1 return on marketing investment and investing in digital platforms like YouTube results in significant organic growth and client acquisition.
Implementing a pod system for advisors helps manage client load, supports scalability, and ensures consistent service quality amid firm expansion.
Troy Sharpe, founder of Oak Harvest Financial Group, discusses how his firm's emphasis on a multi-prong marketing strategy, including radio shows, seminars, and a YouTube channel, led to impressive growth in assets under management from $85 million to $750 million in five years. His approach involves converting educational seminar topics into YouTube videos targeted at pre-retirees and retirees, focusing on building trust with viewers over time.
Structured Marketing Initiatives and Growth Strategies
Troy explains how his firm's marketing efforts are structured into short, medium, and long-term initiatives, with a target ROI of generating $3 in revenue for every $1 spent. He emphasizes hiring specialized marketing professionals and expanding advisor staff to meet client needs. Additionally, Troy created a dynamic retirement income planning system focused on client risk capacity and adaptable spending plans.
Maximizing Marketing ROI and Growth Opportunities
Troy discusses his firm's approach to marketing ROI, investing in digital platforms like YouTube and Google ads, which have shown significant returns in client acquisition. With a focus on providing value through content rather than direct calls to action, the firm places high importance on reaching prospects proactively and efficiently, resulting in substantial organic growth.
Scalability and Client Capacity Management
The firm's structured pod approach ensures advisors maintain a manageable client load of around 300 families per pod. Troy addresses challenges of filling pods to capacity, emphasizing the need for alignment between advisors' roles and personalities, proactive hiring, and transparent client communication. The rotational pod structure enables seamless client transitions and maintains a high level of service and capacity.
Client Acquisition and Growth Strategies
The podcast delves into how the firm handles a high volume of prospects through business development advisors responsible for engaging and converting prospects into clients. With a meritocracy approach, experienced advisors manage heavier volumes, aiming to balance client acquisition with quality service while adhering to structured pod capacities and team-based client management strategies to ensure consistent growth and service quality.
Structuring Advisor Teams for Scalability
The podcast discusses a strategy for structuring advisor teams to handle increased demand and ensure scalability. By forming pods with different levels of advisors - senior planning advisors, associate advisors, and lead advisors, they manage capacity. When a pod gets stretched due to growth, new pods are spun off based on lead flow, not client numbers to maintain service quality and client retention.
Building Relationships and Navigating Challenges
The episode touches on the importance of building strong client relationships and navigating challenges in the financial advisory business. The speaker reflects on handling self-doubt, dealing with unexpected adversities like negative feedback, and staying focused on the client's best interest. Success is defined not just by financial growth but by meaningful relationships with clients, employees, and industry partners.
Troy Sharpe is the Founder and CEO of Oak Harvest Financial Group, an RIA based out of Houston that oversees $750 million in assets under management for 1,000 households. Troy's firm uniquely grew its AUM from $85 million to $750 million in five years by focusing on organic growth through diverse marketing strategies, including a radio show, in-person seminars, and notably, a scalable YouTube channel.
Listen in as Troy shares his innovative marketing strategies that transformed educational seminar content into targeted YouTube videos for pre-retirees and retirees, emphasizing trust over immediate sales pitches, and aiming for a threefold return on marketing investments. He also discusses the expansion of his firm's marketing and advisory teams to support its growth, the adoption of a 3-advisor pod system for enhanced client interaction, and the creation of the "Retirement Success Plan" for dynamic retirement planning.
