The ideas that financial advisors can use to market their businesses are limited only by their enthusiasm and their imagination. Any given week doesn’t have to be devoted to a particular kind of marketing. A marketing approach can come from a mixture of ideas.
Following are seven random marketing tips that will help advisors grow their business: - Spend the next two days in your customers’ shoes. See what they see.
- Look for ways to use the connections, talent and resources of your staff and support people. Think for a moment. They have friends, family and contacts who could be your next big client.
- Use the word "free" on something.
- Some advisors are afraid to offer discounts. They shouldn’t be. However, don’t discount your key product of service. Make your discount on a supportive piece of the puzzle.
- Look for ways to add more value, rather than a discount. When a shaving cream company offers a free razor, they don’t discount the shaving cream. They add more value to the package. How can you do the same thing?
- Develop a list of clients’ common objections and how to overcome them. Objections are a sign that the customer wants to buy. You just haven’t given them enough information.
- One of the best things you can do is form a long-term public relations plan. It’s amazing what wonderful things such a plan can do for your business over time.
Martin Baird is president of advisormarketing.com. This Web site provides these marketing tips and others on a daily basis.
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