Steve Berglund, Practice Management Consultant, reports that building a business today is different from the way many advisors marketed 10-20 years ago. Yet the time-honored components of developing a marketing strategy have not changed.
Research shows that only 30% of financial advisors actually have a marketing plan. Interestingly, statistics indicate the vast majority of highly successful financial advisors have a marketing plan.
How we conducted business 10-20 years ago is different from how we conduct business today. And building a business 10 or 20 years from now will also be different.
An advisor's Marketing Plan should take advantage of the opportunities online and through social media provided by new technologies and changing client behaviors and expectations.
However, the tried and true components of establishing a marketing strategy still hold true:
We want to discuss how we take the components of today's exciting technology and combine it with tried and true methods of developing a marketing strategy so we can reach prospective clients as quickly and as successfully as possible.
The steps to developing a marketing plan are:
Your first impression may very well come from being online. Your online presence may be how you influence people the first time they see you. Be sure that your online presence is strong, positive and consistent with what you want to tell the world.
Steve Berglund is a Vice President in Practice Management for Pershing, a BNY Mellon company. He has over 20 years of experience providing financial advice to clients as well as mentoring, training, coaching and supervising financial advisors from the wirehouse, regional firm and bank brokerage channels.