The $0 advisor marketing strategyArticle added by Maggie Crowley on June 4, 2013
Ranked: #113 (572 pts)
Today, it's pretty common for many financial advisors to run a one-man-show type of firm. After you shell out for the essentials of running a business, your marketing budget may look a little slim. If that scenario hits close to home for you, then I've got some good news! If you play your cards right, it’s possible to have a great, effective marketing strategy… for free.
Here are four cost-free marketing ideas for financial planners and advisors who don’t have an in-house marketing team and can’t afford the luxury of outsourcing marketing efforts.
During a normal workday, people send and receive an average of more than 100 emails. That’s a lot of emails. Leverage this technology by updating your email signature. Instead of handing out business cards left and right, let your email signature do the work for you. These days, everyone has a computer, tablet or smart phone within reach.
You'll want to include your contact information, social media handles and website (if you have one). Dig a bit deeper and include something really interesting or unique about yourself or your practice.
Need some inspiration? Check out the Top 10 Best Email Signatures.
I’ve written quite a bit about why financial advisors should blog. Essentially, there are two huge reasons:
1. Blogging creates fresh, new content that is great for boosting your search engine ranking.
While advisors are often encouraged to blog in order to improve their website, I think it’s equally important for those who don’t have a website. Blogging will allow advisors with no Web presence to validate their firm and their existence (for free).
2. Sharing your knowledge and expertise online in the form of a blog provides a platform for advisors to become a thought leader and expert in the industry.
As an advisor, you're probably already an expert at this one. I think many financial professionals will argue that this isn’t necessarily a free technique (and I’ll agree, in many cases it’s not). But, it is possible to network for free.
Look around; there are many free networking events that may not be referred to as “networking events.” For instance, consider volunteering. Find out what local charities and/or non-profit organizations are holding fundraising events in the coming months and looks for ways to get involved.
Figure out which organizations your ideal clients participate in and begin by making a few phone calls. You will be building great relationships and meeting new prospects and leads in no time.
…and then, use social networks
Social media is essential to an advisor’s marketing strategy whether or not you’re on a budget. It’s clear that your target market is on social media, and you should be, too.
How do advisors succeed on social media? With an organized strategy and by being consistent. In a recent industry survey, advisors who implemented an organized approach to social media increased their leads and gained new clients within six months.
If you have to limit your time to one social platform, go for LinkedIn.
As your firm grows and you have room for a small marketing budget, you'll want to look for ways to get the most "bang for your buck." My suggestion? Put the money towards an awesome website. Maintaining an online presence is the most cost-effective way to manage all of the ideas listed above. An excellent advisor website provides an opportunity for small, growing firms to compete with any "top dog" on the market.
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