October 25, 2018
In 2017, the financial planning industry revenue was $56 billion. However, in order to be successful in the market, financial advisors need to be able to establish themselves as trustworthy. In order for an advisor to be established as trustworthy in the industry, it all starts with their chosen marketing tactics and strategies. We constantly read on ways to market our business, but how can we make it creative and fun? I’ve got just the advice for you!
- Develop an interesting and relatable hobby. Have you ever wondered what you should talk to your prospects and clients about? Sometimes when finance and investing is your only topic, it could intimidate your prospects and clients. When you develop an interesting and relatable hobby, rather it is golfing or fishing, it creates trust between you and your clients. This relationship-building strategy could differentiate you big time!
- Start podcasting! As of 2017, 73 million people are listening to podcasts monthly. It has made a major comeback and customers truly value this medium for ways to gain and expand their knowledge. Creating a podcast could not only provide financial value to your clients and listeners but also show off your personality.
- Create a monthly company newsletter. This could be one of your many tactics, that is also inexpensive, to keep your clients and prospects engaged and aware of your practices. Simply create a brief monthly newsletter and send it out to your email subscribers or post it on your website. Don’t forget to focus on sharing your expertise.
- Host local conferences. Rather it is is in your local libraries or senior centers, this could be a great way to get your name out there. You could host a local conference to give advice on 401(k) plans, budgeting, savings, etc.
Creating marketing tactics to spread the word about your business doesn’t have to be boring! What are some of the creative marketing tactics you have used with your business?
July 26, 2018
Through out our careers, we’re always taught to make sure our marketing is perfect. The right words, the right pictures, and the right advertisements. And this has been a safe approach for a lot of companies. However, when a customer visits your professional website, they rarely take a look at the content because they already feel like something is being sold to them. The more the marketing materials seem “perfect,” the less likely a consumer will purchase them. Instead, your marketing should be authentic and customized to who you truly are.
So what exactly is authentic marketing? This approach simply shares who you are and your business focus, all while utilizing your own words. I stress the importance of authentic marketing because if you are a financial advisor and you ask your clients to trust you with their entire life savings, they’d want to know who they are working with.
Some of the best ways to achieve authentic marketing is to share your companies personality through your website and marketing materials such as: pictures, videos, blog, etc. Consumers buy real and when you share with them who you really are, they are more likely to trust you.
June 14, 2018
In the business world, it seems that it’s always a company’s goal to be better – better price, better product, better service. However, that’s not always the best way to go about your business. Whenever a customer says “why shouldn’t I just go to the financial firm across the street?” and your answer is “because we’re better,” does the customer necessarily believe that?
What truly matters and what we should all be focusing on is being different. Think about what’s unique about your company. Most of the time, customers choose your business because of you, not knowing the products you offer because they loved what’s unique about you. If you look at really successful companies, they didn’t become successful because they wrote “WE ARE BETTER THAN THE OTHER GUY” as their headline. They outlined what’s unique about them and shared it with the world. And people bought their product because of them.
So, you’re probably wondering: what’s something that could be different about your firm? The people, your leader, and staff. No other firm has the same people as yours does, and that’s one of the best ways to describe your uniqueness.
I’d like to leave this post with a few questions for you to think about:
- What’s something that you are doing that your competitors aren’t?
- What are you doing that’s exactly like your competitors that you could change?
May 24, 2018
In this blog, we talk a lot about all of the different ways you can market your business: social media, website, cold calling, referral programs, etc. However, one major marketing practice that I think is often overlooked is event marketing. What if my event goes horribly? How do I go about planning it? Am I just going to waste all my money? These are valid questions and the thought process in terms of event marketing for a lot of financial advisors. But what if the opposite happens? And you gain a good amount of new potential clients. Or if you are putting on a marketing event for current clients, this could allow for them to feel truly appreciated.
Now that you understand why I think you should definitely include event marketing in your strategy, let’s talk about how you can actually get people to attend.
Firstly, when planning your marketing event, it’s important to create an invitation that shows what’s in it for them. State the benefits they could receive right away!
Give a call to your prospects! Another way to make potential clients feel important is to actually invite them yourself. Nowadays, everything is automated. So anything personalized goes a long way.
Another thing that’s often missing nowadays is follow up. It’s important to follow up right after the event. You need to plan this in advance so that you don’t feel overwhelmed when the time comes. Some ways you can go about doing this is by sending follow up hand written notes, a professional picture of the individual from the event, or scheduling an appointment and calling.
What successful marketing events has your company hosted? Let us know in the comments below!
April 12, 2018
As a financial advisor, planner, or an attorney it’s highly important to ensure you have a compelling message with your marketing strategy. This is mainly because people are drawn to companies that are authentic and inspiring. The real question here lies in how do we go about creating our compelling marketing message? I always suggest to focus on the purpose of it all. If you ask a financial advisor what is the purpose of their marketing, most of them would say: “To bring in referrals,” “Build my prospect list,” “Grow business.” However, what they don’t realize is that they’re sharing their goals. The purpose of your marketing and your goals are two separate things. Goals are tangible, measurable, and dated. Purpose is infinite. It is the reason you do what you do. To successfully build your compelling message, one must create an effective purpose. And it is okay to revisit your purpose time to time. But once it is set, the goals are based off your purpose. I’d love to provide some tips on creating your purpose that go beyond the bottom line:
- Stay authentic. Do you simply love helping people? Are you passionate about helping people reach their financial goals? Or do you love helping people get out of their financial struggles? Let that be heard in your purpose.
- Specialize. What type of financial advisor/planner are you? Do you focus on a specific target market? Having a niche will actually provide a better and more focused type of service.
- Have a story. Why did you start doing what you do? This doesn’t necessarily have to be written out in your purpose, but it’s a good idea to develop your story so you can share it with your prospects and clients. It provides the background to your purpose.
What’s the purpose of your marketing? Let us know in the comments below!