Whether you have formulated a marketing plan in the past, or are contemplating a new one, every Financial Advisor must consider several key factors:
What are the goals and objectives of your marketing plan?
Who is your target market?
When you have established clear answers to these questions, you are ready to begin the process of selecting a marketing expert, creating relevant content, and going public with the right strategy.
Your goals and objectives no doubt include reaching new clients. It is always wise, of course, to wed old clients to you and your company. However, the heart of marketing is new business. Your image of the target market should include important demographics: age, sex, location, net worth, investment history, and more. Do you want to reach your typical client or broaden your scope with larger parameters?
Attracting new customers
The financial advisory industry is highly competitive and it requires more skill and savvy than ever to attract new customers. Erratic market performance, inadequate visibility of advisors, the wary consumer, and an overabundance of information and choices all lead to ineffective marketing campaigns and poor results. Ignoring the social media is the surest way to failure.
You don’t have to ignore traditional marketing methods even advertising agency London also follow it. Financial Advisors keep the pipeline full of new prospects with public seminars, radio programs, local TV segments, mailers and flyers, phone calls and cold-calling in person, asking for referrals. These strategies have worked for decades and they can build a business — slowly. However, you can’t keep pace without addressing the enormous potential of the internet and social media to attract people to come to you.
Web and social media marketing
A good marketing plan will create a quality image and position it strategically to maximize your exposure. It will engender trust in your competence, experience, and past performance. Everything you do should express how you value clients, protect them, work on their behalf, and communicate with them. Providing good service, for example, sets you apart from the technocrats and numbers crunchers. Anyone can provide “information” on their website. In addition to showing your knowledge, however, it must be humanized and individualized. It must convey honesty, respect, and caring for the client. Viewers must be able to “read between the lines” and find an engaging, employable advisor who stands out from the multitude, one who provides real solutions, not jargon. This is the point at which sales begin – when initial interest turns to a commitment to your service.
There is more to it than the web, however. The hallmark of Social Media is their ability to initiate and maintain personal contact with customers. If you are on Facebook, for example, you are practically a member of the family. Your “friends” have family and other friends. Prospects multiply with each new contact. Relationships with existing clients are solidified for the long-term. Remembering a birthday, anniversary, or important life event is easy and always appreciated. Twitter is fun and convenient; it re-enforces any other contact you may make – and these contacts must be frequent! Selecting the appropriate material for each platform is critical and may require the services of an expert for guidance.
Start a blog
Today’s financial advisor must also have a blog. You can utilize videos, podcasts, emails, LinkedIn, electronic newsletters in your marketing, but you must have a way to update information instantaneously while also providing a forum for feedback and commentary. Marketing is dual-edged. It targets prospects but also re-enforces clients. Blogs are effective with both groups. They tie viewers back to your website while providing extra insight from a more informal setting. In any case, all of your marketing techniques should interface and build upon one another for best results. You can tackle them one at a time as you learn what works. (Feedback from your blog can help.) Always remember to edit and revise to continually improve.