The 3 Questions That Help Financial Advisors Reach and Sustain High Growth

By Shirley Hanson

“Ask the right questions if you’re going to find the right answers.”
– Vanessa Redgrave

Here we ask key questions and we reveal answers that you can call on to activate your growth!

1 – What is the correct way to produce a financial advisor’s marketing plan that generates and sustains growth year after year?

We see many places where advisors stumble, so let’s take a minute to focus on what a marketing plan is NOT. That way you’ll avoid frustration, disappointment, and setbacks.

It’s risky to bet on one marketing technique and only one marketing technique to carry your marketing.

The danger is that it may not work, it may not work well enough to build the business you desire, or it may suddenly stop working.

Be Aware: Integrating marketing tools can increase their power.

It’s risky for financial advisors to count on branding as their main tactic. Often, branding refers to a collection of images or ideas or, commonly, to a company name, logo, slogan, and design scheme.

Caution: Agonizing over your color scheme and worrying about creating the perfect logo can distract you from leveraging time-tested principles of marketing.

“Efficiency is doing things right; effectiveness is doing the right things.”
– Peter Drucker

So what is an “effective” marketing plan?

It hands you the opportunity to be strategic to reach both a level of growth that satisfies you and also to keep it going.

In our new book Marketing Power for Financial Advisors here’s how we describe such a plan.

“A sound plan can generate ‘big beautiful results’ while saving your resources of time, money, and people. It eliminates the frustrations and waste of hit-or-miss, haphazard marketing.

In the book we reveal the correct way through seven simple steps to produce a marketing plan that’s truly a blueprint for continual growth.

CLICK HERE for more information about our book.

2 – Which hot buttons are the right ones to push to differentiate your practice?

As the advisor growth rate slows, your competition is ratcheting up its efforts. It’s not enough to count on your CFP certification, your education, your years of experience with financial planning, or your expertise in wealth management to set you apart.

Too many other advisors promote the same message . . . what we call a me-too message.

A recent Pershing Advisor Solutions study on “What Do Top Advisors Say and What Do Investors Really Think” agreed. They felt that advisors huddle together and make common promises. It’s not possible to tell them apart.

So which hot buttons enable advisors to leave the pack behind? We call it “Getting into Your Growth Groove.” A full account is in our book Marketing Power for Financial Advisors.

Also, we recommend a recent article in our blog. It’s called “Financial Advisors’ Unique Value Propositions Aren’t Unique.”

You’ll see examples that almost everyone can capitalize on to free yourself from the pack. You’ll also discover how advantageous (and easy) it is to “Acknowledge Investors’ Skepticism and Suspicions.” Click Here for the article.

3 – What do a few savvy advisors know about growing through referrals that escapes everyone else?

Financial Advisor magazine surveyed 611 advisors and found that the “most profitable” source for new clients was from Centers of Influence. Yet only 10 percent report “having very much success.”

Bob Hanson honed his referral system as he helped to build a 70,000-name marketing list for a small, little-known company. This same system also attracted 2,245 prospects to one event without spending a cent on marketing.

For financial advisors Bob wrote an article about “When influencers and Niches Collide, Good Things Tend to Happen.”

There he presents a compelling case for selecting the right Centers of Influence to work with instead of aimlessly going after all possible influencers.

This one tactic alone can make an immense difference to an advisor’s practice. The article is here.

If you would like to discover more about the exact steps for a productive system for referrals from clients and Centers of Influence, we invite you to check out “Marketing Power for Financial Advisors.”

There you will see a “6 Point Plan to Boost Referrals from Clients.” “The system is repeatable, scalable, and measurable,” Bob said. “It does not require ongoing heavy lifting.”

Also, you will find in the book a simple, straightforward “Nine-Step Road Map to Attract More Referrals and Clients through Influencers.” This blueprint unlocks high-energy marketing power, which you can take advantage of now.

Click Here for easy access to the book.

With best wishes for continual growth through an effective marketing plan,

Shirley Hanson

About Shirley Hanson

Co-Author "Marketing Power for Financial Advisors"
In 1991 Shirley Hanson co-founded the Hanson Marketing Group, a direct marketing firm. Since 2005 she has focused her work on helping financial advisors take advantage of the same strategies and tactics that high-growth firms count on year after year. Advisors are able to attract more of their ideal clients, reach a Category of One, and raise their production. She collaborates with advisors to unlock their vision for their practice sooner with less hassle.

Contact Shirley
Phone: 215-753-2620 | Fax: 215-754-4165
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