Week 3: Be found when prospective clients are looking for a fee-only advisor.
Week 2: Understand the root motivation why a prospective client contacts you.
Week 1: Make it easier for prospects to schedule an appointment.
Mapping the customer journey is an increasingly popular way for businesses to understand a customer's experience with their brand.
Over the last few years, we have seen RIAs that have traditionally focused on high-net-worth individuals and families become interested in marketing to millennials. This trend is a result of several factors:
For advisory firms using online campaigns to generate business, I often recommend that they enhance their strategy with retargeting ads.
I often speak to financial advisors who are frustrated by their marketing numbers. They are not frustrated by the number of prospects who have contacted them, or by the number of clients they have acquired, or by the number of assets added. They are frustrated by their marketing statistics, such as their newsletter open rate.
Now that live streaming is popular and easy to implement, you may be asking yourself, "How can I use live streaming in my business?" Here are our top five recommendations.
Whenever we speak with advisors, we always ask, “How is your firm different from other independent firms?” Despite the advisors’ insistence that their firms are unique, we tend to hear the same general answers.
In the financial advisory business, client referrals are important, but so are referrals from centers of influence (COIs)—the attorneys, accountants and other professionals who also serve your clients. In fact, a well-developed, reciprocal network of COIs can bring in many more clients and help you keep your existing ones.
In our experience, traditional advertisements such as print ads, radio commercials or TV commercials rarely yield the results that financial advisory firms are looking for. You should consider ads only in the following situations.
Maintaining multiple Twitter accounts and attracting followers to multiple profiles can be challenging, so in general you'll be more successful with fewer profiles. Whether you should have a business profile depends on the size of your business.
We have seen a few firms that have had tremendous success with paid radio and TV shows. We have also seen more firms fail with these same initiatives. The difference between those that fail and those that succeed comes down to a few factors.
Websites can really vary in price. We have seen advisory firms pay anywhere from nothing (or nearly nothing) to in excess of $50,000. How much a website costs depends on a variety of factors.
This question has two components: a marketing one and a compliance one. From a compliance standpoint, you will need to speak with your compliance officer or consultant.
As for marketing, before you promote any awards, ask yourself the following questions.
There is a fine line between communicating too quickly and not communicating quickly enough. A one-day crash doesn't necessarily warrant client communication. In fact, it could spook clients over a bad situation they otherwise may not have been aware of. However, if the stock market plunges significantly over several days and nothing is communicated to your clients, you have waited too long
Since this is such a popular question, we've included a partial list of the awards we are aware of.
Media coverage is a great (and free!) way to create awareness and build credibility for your business. You also have the opportunity to use that coverage outside of its original publication.
There are dozens of stock photo options out there that range from free to thousands of dollars per image. Check out these sites to find one that fits your needs and budget.
Inviting COIs such as attorneys, accountants and insurance professionals into your client meetings can be an effective way to show, and not just tell, the value you bring to clients. The goal of doing this is to forge a successful, reciprocal referral relationship.
We are often asked by advisors if they should use third-party publishing platforms (e.g., LinkedIn Pulse) or Q&A sites (e.g., Investopedia, NerdWallet, Brightscope) to promote their business. The answer is “It depends.”
One of the best ways to increase your chances of marketing success is to designate a marketing point person within your firm—someone who can ensure that projects are completed and deadlines are met. While you and other team members will have input in the firm's overall marketing strategy, delegating routine tactics keeps your marketing consistent.
Here are the five trends we expect to see more of in 2017 as advisors incorporate them in their businesses.
It’s hard to believe, but the holidays are fast approaching. If you haven’t already thought about how you’re going to market to your clients, prospects and COIs over the coming months, now is the time to do so. The holiday season is an ideal time to reach out and remind people of what you do, often in a more personal and less sales-focused way than at other times of the year.
It is that time of year again, when you review your marketing efforts and build out your marketing plan for the next 12 months so you can hit the ground running in January. Whether you are a small or large business, if you want to grow your firm, then you should create an annual marketing plan.
Launching your advisory firm requires a lot of time and attention. From client service to operations, there are many areas of the business that are critical to laying the groundwork for success. One area that requires such time and attention is marketing, specifically messaging, which is one of the most important building blocks of your marketing infrastructure. In this post, we will take you through a process we created to help our clients uncover and identify one specific area of their firm messaging—their unique value proposition.
A professional biography is a must for you and every other client-facing employee in your firm. But a compelling bio can be surprisingly difficult to write. How can you distill a lifetime of personal and professional accomplishments into a few paragraphs that are engaging, without falling into the trap of being either braggy or boring? The following tips can help.
In a fast-moving world of social media and online marketing, press releases may seem like a decidedly old-fashioned tool. But press releases are still a valuable way for financial advisors to promote themselves and their firm, provided they go about it the right way.