Week 2: Understand the root motivation why a prospective client contacts you.
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.
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.
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.
- It's time to start ordering holiday gifts for your clients. Here are eight ideas to consider this year!
- Custom-labeled wine bottles
- Logoed mason jars with homemade candied fruit or nuts
- Locally sourced food or beverage gifts
- Leather-bound notebooks with your logo embossed
- Holiday flora such as poinsettias or wreaths
- Good old-fashioned handwritten holiday cards
- Coloring books for adults
- Holiday cookie jars with homemade cookies
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.