Financial Advisor Marketing Plan-The Ultimate Guide
Having an effective marketing plan for financial advisors is very important in establishing the business and ensuring its success. The market is full of options for customers and clients who are looking for financial advisors, and most of the time you will be faced with fierce competition from other financial advisors who also, like you, promise to deliver the best services to the potential clients. So if you are looking for the perfect financial advisor marketing, there are some tips that will help you to achieve your goal. Here we have prepared the ultimate guide for the success of a financial advisor marketing plan.
Understand the needs of your clients:
In the financial services market, there are a lot of good companies who offer investment and financial solutions to their clients. The best services provider is not necessarily the one with the lowest cost. Sure, people will love to hire a services provider that doesn’t cost much but again there is a price for the quality. While you as a financial advisor would greatly benefit from offering low-cost services because of a large number of customers that you will probably attract, the risks of maintaining such a business are high. If for any reason, your sales drop, your low-profit margin will not be enough to keep your business surviving. Instead, you should focus on understanding the needs of your target customers. The financial needs of a 20 something engineer are different from those of a doctor who has recently retired in his 60s. Your marketing plan should focus on identifying your target customers specifically and understanding their very special needs. Make sure that your marketing team analyses your former and current customers. If you are already attracting a large segment of newlyweds who are looking for financial security, then chances are that you will attract more of them as they refer you to others.
Know your advantages and shortcomings:
Because the market is highly competitive, your financial advisors business should come off as unique and superior. You want to make sure that your marketing for financial advisors focuses on highlighting the advantages that you have over other competitors. Your marketing plan should be able to identify and make use of your previous satisfied customers. These will add credibility to your business and will help establish your image as a successful services provider. Don’t be shy to show off the credentials of your exceptional staff to show customers that the employees who handle their financial issues are highly qualified to do so. This will be extremely important if your prospects have no experience in the field of financial services as they will see your employees as trustworthy based on their degrees and qualifications. Make sure that your marketing material highlights the way your company excels at delivering exceptional customer support. Many clients especially who choose to go online for financial services want to have a rapid execution for their requests, easy order entry and continuous follow-up. If this is your advantage make sure that your marketing plan highlights it. If your company is lacking some of these advantages, your marketing team should be able to identify those so that you can come up with a plan to fix that.
Focus on branding:
The purpose of your marketing plan is to set the stage in your clients’ minds by highlighting what you offer and linking it directly to the needs of your clients. When this is done successfully, your clients will always think of your business when they want a financial service. By focusing on providing your clients with what they exactly need, you set the stage for your business to be the first name they think of when they think of a financial service provider. Just like one when someone asks you for a hair stylist or physician. Although there are many who offer the same services, you can easily refer to the ones who successfully made a good impression.
Repeat your message:
By focusing on repeating a simple, direct message, you help your prospects make a decision by selecting your business. They will keep your image in their heads until they need to hire a financial advisor and then your name will pop up. You can easily do so by making sure that your marketing plan is as targeted as possible. This is both costs effective and ensures that your message is repeatedly delivered to only interested prospects. Moreover, you can leverage your marketing plan through using social media for financial advisors, blogging and guest posts. Remember that marketing is an investment, not a cost.