Start Planning Your 2023 Marketing Strategy Now

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As we finish out 2022, take a moment to assess your business and marketing strategy to see if it’s on track. Are you still trying to achieve the same goals for your financial advisory firm? Are you still targeting the same audience of ideal clients? Are the marketing tactics you used this year working to bring in new business? It might be time for an update, and now is the time to get your plan into gear.

Here are some points to consider when planning your marketing strategy for 2023.

Assess your 2023 goals

One of Stephen R. Covey’s famous seven habits is, “Begin with the End in Mind.” The first step to planning an effective marketing strategy is to define what you want to achieve in your business. What are your goals? What do you hope to accomplish? How have your objectives changed since this time last year? Once you have a clear idea of where you’d like to be by the end of 2023, you can develop a plan and map out a strategy to get there.

Next, look at your marketing results from 2022. What worked and what didn’t? What worked a little but might work better with some tweaking? Is your email list growing or shrinking? Are you continually attracting new, qualified leads and converting a percentage of them into paying clients? Were your events well attended? If they weren’t, what went wrong? If you lost clients to other financial advisory firms in 2022, what could you have done to keep them onboard? On the flip side, did you attract less-than-ideal clients, and if so, what about your marketing message needs to be adjusted?

Finally, think about your budget and resources. How much can you afford to spend on marketing? Do you have the time, skills, and staff to execute an effective marketing strategy? What results and return on investment are you expecting, and in what time frame? These are important factors to consider as you embark on your marketing plan for 2023.