Financial Advisor Marketing: Escaping From A Marketing Straitjacket
What do you do when you feel that you’re trapped in a financial advisor’s marketing straitjacket?
When you’ve given up on the last marketing program you devoted more than a year to implement — one that didn’t pan out? When you are stymied and don’t know what to do next?
One of Houdini’s widely popular stunts was to be strapped into a regulation straitjacket and suspended by his ankles from a tall building. Then, he flung himself into the air and escaped from the straitjacket in full view of the crowd below.
You don’t have to be an escapologist like Houdini to get out of a marketing straitjacket.
Timeless, time-tested marketing principles will do the trick.
Time is critical for you, as it was for Houdini, so these principles reveal where to put your energy. And even how to snatch success from your marketing duds.
What’s more they can help you PREVENT marketing straitjacket.
Straitjacket Escape #1 - Consider Every Marketing Program To Be A Test
Wring every ounce of learning from it. If it’s successful, how can you improve on it? If it’s a flop, try to discover why.
Let’s say, for example, that you developed a list of 900 business owners in your area. And, further, that you delivered marketing material to them in an attractive package. And that you got attention and appointments from the package.
But for all of that personal effort over almost more than a year you gained a handful of appointments and landed only 2 clients.
Straitjacket Escape #2 - Know Your Target Market
If there were marketing mantras, this would be one. Know your target market.
How carefully did you identify your target market ahead of time? How deeply can you describe them?
Was the focus on them or you? Be honest here. What nagging problems are they looking to solve? What are their hopes and dreams?
With the uncertain economy, global competition, rocketing energy costs, and inflation a vital question to be able to answer is how are these trends affecting or will have impact on their businesses (or their personal lives)?
Straitjacket Escape #3 - Leave The Pack Behind
Do you truly grasp how you stand out from the pack?
Do you understand how you can serve your target audience better than anyone else? It’s all about positioning yourself with this special target audience (not as an advisor who can help everyone).
Did you spell out your differentiation? How clearly did your target audience see you as the go-to expert to solve their toughest problems?
Straitjacket Escape #4 - Don’t Leave Anything To Chance
Generally, winging it does not serve you well.
How well prepared are you to present your case to this target market. Be strategic. Think about what you would like to happen, and list all specific marketing steps to get there.
Then if you need backup documents to solidify your case, have them ready.
Straitjacket Escape #5 - Never Underestimate The Value In Your List
This, of course, includes your Book of Clients. But, also, your list takes in your prospects.
Let’s say, for our advisor in the marketing straitjacket, who now has a list of 900. About 190 rose to the top of the list as most promising.
Then, he can begin a series of contacts to renew interest, demonstrate an understanding of their lives as business owners, and provide value.
Want more information about escaping from a marketing straitjacket?
We invite you to gain Free access to our “7 Client-Attraction Secrets of Highly Successful Financial Advisors” is at http://www.marketingplanfinancialadvisor.com
Add comment June 16th, 2008
