Financial Advisor Marketing: A Simple Plan for 2009
This blog is by Bob Hanson
Sometimes a simple solution is the best one.
In sales think of timeless advice like ABC, Always Be Closing, or to always “Ask for the Order.”
In management, you may recall a strategy like, “You can’t manage what you don’t measure.”
In marketing, sometimes the simple plan can create amazing improvements in results.
These are the new tactics added, or easy changes incorporated, into your marketing. They can make a big difference in the number of prospects you generate and the number of prospects who turn into sales opportunities. What’s more, they can help increase your client conversion percentage.
A client, for example, recently created a direct mail campaign making the simple case — you need to set up an appointment to talk to an account executive now. And we gave the reasons why. (Never underestimate the power of good Reasons Why!)
The results so far?
About 20 appointment requests from the initial 100 mailing letters to a targeted list. New sales proposals are already being crafted. This campaign will be expanded this year.
So what are some simple marketing strategies like this direct appeal to a qualified list that you might use for 2009?
1. Sharpen the saw on your offers.
An offer can be described as what people get for responding or buying. Offering more perceived value can significantly increase all of your conversion rates.
For example, help your prospects capitalize on financial advice for the New Year, ways they can beat the bear market, or how to uncover the hidden fees in their 401(k).
2. Replace more expensive, and time consuming, marketing with cheaper media or campaigns which can produce the same results.
Consider a web page rather than a brochure, or keeping in touch with clients and influencers by email rather than direct mail. This step could save you in time and money and potentially increase your response rates.
3. Turn Features to Benefits.
Check your marketing campaigns to make sure the message of “What’s in It for Me” (for your prospect) is always there. Always.
One of our clients changed 5 lines in their event invitation to be more benefit oriented and increased attendance by 18%.
4. Hang In There
The majority of sales happen, some say as many as 80%, after multiple contacts with your prospect, usually at least 7.
So make sure you have an automated, follow-up strategy to reap profits from existing leads and qualified prospects.
If existing leads or clients are being ignored, it might make sense to put a nurture plan in place to harvest more sales from these existing assets. Do this before your next big lead push.
5. It’s In The List, List, List.
Remember the single greatest factor predicting the success of any marketing campaign is the list (or media) used.
Find out what lists or media are working for others and, in addition, test your own campaigns to see if they produce for you as well.
Gain more prospects and clients from marketing in 2009 by profiting from these or other simple, but effective ideas.
We invite you to discover more articles like this at
http://www.marketingplanfinancialadvisor.com/
January 6th, 2009
