The internet has irrevocably altered how we do business. Perhaps the greatest single change has been the way information is sourced and shared.

The new availability of information makes it more difficult for financial advisors to differentiate themselves. If everyone, including clients, has access to the same investment details and planning strategies, how do consumers choose one advisor over another?

In The New Rules of Marketing & PR, author and marketing expert David Meerman Scott tells us how to do just that. He maintains the rules of the game have changed. And those who don’t embrace the change will find themselves falling behind in the competition for clients.

While The New Rules of Marketing & PR wasn’t written specifically for the financial services industry, it does hold a wealth of information and instruction that could help propel your practice to the next level — if you are willing to break the “old” rules.

Under these old rules, Scott says, marketing largely consisted of broad-based advertising that appealed to the masses. In the world of financial advisors, the primary outlets were direct mail, newspapers, magazines, some radio and very limited television.

It was one-way communication, in that advisors directed their message toward potential clients. In most cases, however, there was no feedback to confirm the message’s effectiveness in getting people to do business with the advisors. The primary objective was interruption — getting people to notice your message by designing it to capture their attention.

Unfortunately, as even the best messages are repeated, they eventually lose their uniqueness and, consequently, marketing programs have limited lifespans. Then they have to be reinvented.

The “new” rules, on the other hand, are about communicating directly with buyers, primarily through Web sites, blogs, podcasts, wikis, online media releases and other Web-based technology, according to Scott. For relatively few dollars, compared with traditional promotional activities, you can have your message heard or read by precisely the people you want to attract. Furthermore, because those receiving your message are doing so by their own choice, they are far more likely to make the switch from prospect to client if your message convinces them they will be well served by doing business with you. An additional benefit is that their direct feedback helps you to improve your message continually.

The book includes a section on Web sites. They can be an ideal tool for marketing to your ideal clients — if you avoid the common trap of describing what you do from your point of view rather than that of your prospect. While a description of the products and services you offer somewhere on your site is valuable, what visitors really want is content that first describes the issues they face and then shows them how to solve those problems, Scott says. This is true for a general business audience, and particularly valid for financial advisors.

Well-organized content can practically lead your visitors through the sales cycle until the point at which they need to engage with you directly to fulfil the planning requirements or to discuss alternative strategies and product options.

Scott also devotes a section to Weblogs, or “blogs,” a special kind of Web site created and maintained by someone who is passionate about an idea and wants to tell the world about his or her expertise. Scott shows how a blog can be used to develop a presence that extends into the mainstream media. The scenario can be easily applied to financial advisors.

If, for example, you are keen on life planning, you can start a chain of communication by posting your viewpoint and then inviting others to comment. Over time, those collective comments grow into a valued information exchange. Eventually, you will come to be recognized as a credible source. Journalists who are researching the subject will come upon your blog and soon you will be quoted in the media as an authority on the subject. Blogs have this potential power.

Similar experiences can be developed through other online strategies, Scott says, including podcasts (online audio broadcasts), webinars (online seminars) and e-mail newsletters. You can even publish an e-book on your particular area of expertise and eliminate all the worry about distribution and printing costs.

While each of these media is different, the common element among them is that through them all, you can demonstrate thought leadership rather than simple advertising and product promotion. IE