Before you define your marketing strategy, it is important to know exactly what marketing means to your firm. The problem we’ve recognized at Lone Beacon Media, is that advisors are often given advice from marketing and advertising professionals who deal with a number of different businesses on a much larger and more global scale. Click here to watch our video and see how we like to create purposeful that works for you.
Once, we had a meeting with the head of a digital department at a major ad agency and asked them, “What’s the most important thing to do as an advertiser in the digital space?” Their answer was one word, “Everything.” For advisors, it can be overwhelming to explore all of the elements that can be applied when it comes to the digital marketing world.
At Lone Beacon Media, we understand that it’s just not realistic for most local businesses and independent advisors to do “everything.” That’s why our advice is to “own” something as best as you can and expand from there. It should start with your website, then pick something to build on. Whether it’s database marketing, a blog, or Pay-Per-Click, make sure you truly understand what you are buying, what expectations are, how it works, and how adjustments can be made along the way to maximize your ROI.
Here are two manageable and measurable areas of focus that every independent advisor should embrace to get ahead in the marketing process:
One is Your Website, or “Digital Store Front” as we like to call it. At the end of the day, people will buy emotionally and justify logically. Try thinking about a prospect you’re about to close…How many other competitors do you think they’re sizing up against you, online? Will your website stand out above the rest?
The second is your Database. We like to look to your current list of prospects (and clients) as a potential gold mine. Just think about all the time, money, and effort you put in to generate a prospect database. Chances are you most likely don’t have enough time and patience to nurture them. Consistent communication will help to keep them engaged as they continue to seek and compare financial advice. As for your current clients, just imagine the increase you can see in their share of wallet as well as the number of new referral leads they bring in through strategic engagements on the digital front.
In the end, there’s no need to be overly ambitious. We believe that the best and most practical use of an interactive presence is as much about overall prospect and current client engagement as it is about prospect acquisition. For more details on strategic and tailored marketing plans, click here to request your free copy of our Fusion Guide to Sales and Marketing.