By Warren S. Hersch
More than seven in 10 advisors only communicate with prospective clients
once a month or less, new research reveals.
ByAllAccounts, Woburn, Mass., published this finding in a Marketing and Business Development survey conducted in September 2011. The survey findings are based on aggregated responses from 215-plus advisors.
The survey reveals that 73 percent of advisors only communicate with prospective clients once a month or less. Yet more than four in 10 advisors (41 percent) say they plan to acquire between six and 15 new clients next year, while 46 percent hope to bring on 16 or more.
Just over one in 10 (12.5 percent) of respondents say their marketing strategy for attracting new clients is effective.
Only 12.4 percent of the respondents say they have a dedicated marketing person or team. But more than a quarter of those polled (26.7 percent) say that marketing is handled by staff people who also manage other activities.
The top 5 marketing tactics used by the advisors include websites (62.4 percent of those polled), events/seminars (56.1 percent), emails (51.4 percent), newsletters (47.4 percent) and direct mail (30.1 percent).
Fewer of the survey respondents use social media
(21.4 percent), content creation (such as whitepapers; 19.1 percent), print media advertising (18.5 percent), press releases (18.5 percent), and search engine optimization (15.0 percent).
The top marketing activities that advisors are outsourcing, the surveys finds, include website design and upkeep (56.5 percent), email marketing (47.8 percent), seminar and event coordination (39.1 percent), broadcast or print advertising (30.4 percent), content creation (30.4 percent), public relations (21.7 percent) and telemarketing (13 percent).
Originally published on LifeHealthPro.com