Marketing Assumptions That Cost You Money

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I’m highly motivated to help the clients who use my firm’s digital marketing services. I respect the work they are doing and want to help them generate more business so they can positively impact more investors and their families. I’m well-paid for our work and want to be sure we’re an investment and not an expense.

If there was an easy way to increase AUM, I would have found it.

Instead, I’ve uncovered these false assumptions that may cause you to spend your marketing budget unwisely.

1. There’s a magic bullet

If only you could write a fat check and the leads would start pouring in, with little effort on your part.

If you ask the most successful advisory firms how they generated so much business, you’ll be disappointed by their response. Most will tell you they get the majority of new business from referrals and centers of influence. Those with a marketing budget will say they can’t identify a particular initiative that worked, but the combination of social media marketing, content marketing, podcasts, YouTube channels and SEO raised their profile to a point where they had high name recognition with their target demographic.

If there’s a common refrain, it’s this: Marketing is a long, difficult, expensive journey. It requires time, money and patience.

Unfortunately, there’s no magic bullet.