Seven Signs It’s Time to Pivot Your Marketing
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Building a successful independent financial advisor firm requires effective marketing. Every action you take to attract new prospects and gain new clients matters to your bottom line. But what worked yesterday may not work today, and what’s working now may not be the best approach tomorrow. Just like you have to monitor what’s happening in the markets, it’s important to stay in the know when it comes to your marketing.
You want to ensure you are getting the best return on your investment of time and money. This means you need to evaluate your marketing strategies continuously, keeping both your short-term objectives and long-term, big-picture goals in mind. Unfortunately, business owners often miss out on money and opportunities for growth by sticking with outdated marketing.
How do you know when it’s time to pivot your marketing?
1. Your clients are giving you feedback
Marketing serves to not only attract prospects but retain existing clients and help them spread the word about you. Your ideal client holds a wealth of information about not only what they want but also what people like them (i.e., your ideal clients) want. Paying attention to their questions and feedback should be priority number one. There’s no better market research than a conversation with one of your ideal clients.
If you notice patterns in questions or find that your clients are repeatedly asking for a specific type of advice, take that as a clue. Your prospects are likely to share similar needs and concerns. Your marketing should address these needs and convey that you are tuned in to their pain points. If not, it’s time to pivot.