Most Popular ArticlesAugust 11, 2009
Step 1: Choose your strategies
A well-rounded marketing plan will include a variety of strategies. Don’t depend on one strategy to produce all of your new leads. You’ll want to diversify your campaigns. The following are just a few strategies to consider including as part of your annual marketing plan. Mark down the ideas you like to later incorporate them into your plan.
Centers of Influence (COIs) Referrals
Centers of Influence can be a sustainable source of new clients. If you choose this strategy, you will want to consider some of the activities listed below:
- Attend networking events or join associations to meet new COIs
- Reach out to COIs via LinkedIn, Twitter, Facebook or other social networking sites
- Develop marketing collateral targeted to COIs
- Create a schedule to continue nurturing the COI relationships (e.g. lunch or dinner meetings, hospitality events, and continuing education workshops)
- Create opportunities to reach out to COI clients (e.g. speak at the COI’s client events, write articles for the COI’s newsletter, and hold joint client events)
Client Referrals
Client referrals can be an inexpensive and effective way to generate new leads and should be a standard strategy for every firm. Consider including the activities listed below in your marketing plan:
- Develop a client referral process (e.g., referral follow up and thank you cards)
- Create a schedule to touch clients throughout the year (e.g., newsletters, events, webinars, reviews, and phone calls)
- Create opportunities for clients to introduce friends, family members and colleagues to your firm (e.g., client workshops, appreciation events, webinars, and podcasts)
Offline Marketing
While referrals are the most effective way to generate new leads, advisors new to the business or firms looking to grow rapidly need to reach outside of their current relationships. If this is a strategy you choose, consider integrating some of the following activities into your plan:
- Develop effective marketing collateral including capability brochure, advisor bios and product/service sheets
- Host public workshops or educational courses
- Advertise with local newspapers, magazines, radio stations and television stations
- Send direct mail to targeted leads
- Host a paid television or radio show
- Write articles and submit them to local publications
- Write and distribute press releases with news about your firm
- Create a Drip Marketing program to stay top of mind with prospects
Online Marketing
More and more advisors are incorporating online and social media strategies into their marketing plans as an effective and low cost option to generate new leads. If choosing this strategy, incorporate some of the following activities into your plan:
- Build a website that clearly conveys your capabilities and provides educational resources to prospective and current clients
- Develop educational content through blogs, podcasts, webinars, and videos.
- Join and contribute to social networking sites such as LinkedIn, Twitter and Facebook
- Implement a Google Ad Words campaign or some similar variation
- Participate in online directories and advisor referral sites
These are just a few ideas to help you get your creative juices flowing. Choose whichever ideas fit your business and target market.
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