At the height of the pandemic, advisers were forced to change the way they marketed their businesses. Today’s forward-thinking advisors are adopting a variety of high-tech solutions even as they revisit older, proven strategies. Here are 7 ideas advisors can use to energize their marketing plans as they seek growth in the coming year.
Troy Korsgaden
Use the 7-key matrix. Troy Korsgaden, director of Korsgaden International, recommends that advisers contact their clients at least seven times a year. Korsgaden said he created a matrix that lists different products and services, such as annual reviews, auto, home, life insurance and financial services, with a staggered timeline to reach each customer.
“For example, he adds, all customers whose name begins with A and B are contacted in January for an annual report, all customers whose name begins with C and D are contacted in February, etc. Most clients don’t come into the office seven times a year. But these regular touches keep the agency top of mind with clients and position it as the gateway for clients to all things insurance and financial services. Of course, not all contacts are related to sales, Korsgaden pointed out. “We also plan personal touches for things like birthdays and holidays,” he said.
2. Introduce yourself to businesses. Another idea shared by Korsgaden is that advisors introduce themselves to at least 4 new companies every day. These are not sales meetings, he explained. “These are quick 5-minute introductions to getting to know business owners in your community. (Consider bringing a small gift like candy or cookies for the office.) You can easily make 4 each day if you make one on the way to work, on the way to lunch, and on the way home. Keep track of who you meet and follow up periodically to get to know them and build a relationship. Remember that people do business with people they know and trust.
John Pojeta, vice president of business development at PT Services Group, shared three do’s and one don’t that advisors should keep in mind when looking to grow their practices. Among Pojeta’s backs:
John Pojeta
3. Create and share video content that resonates with your audience. 98% of people on LinkedIn only consume, they never post! “For most people in our field, it’s a great place to reach and build an audience and there’s still plenty of opportunity to make your mark,” he said.
4.”Pick up the phonePojeta added. “I can’t stress this enough. Whether it’s a prospect or an existing customer, get out of the habit of doing everything by email. Phone calls give you the opportunity to build relationships. relationships and learning more about your customer’s needs are experiences that almost never happen in cyberspace,” he added.
5.”If the economy is shrinking, stick to your marketing budget. In fact, if you can, increase that budget. Now is the time to put the pedal to the metal. Opportunity will present itself during this period, and you need to be visible to seize the right openings,” he added.
6. Pojeta offered a “don’t” as one of his tips: Whether via LinkedIn or email, stop connecting with strangers in the morning and selling to them in the afternoon. It’s not an effective strategy for any kind of selling and, in fact, often has the intended opposite effect, he said.
7. Pojeta also provided a bonus tip to advisers: in 2023, try something new in your marketing plan. But do it without worrying about the outcome. “I suggest this because we almost always learn more from the process than the outcome,” he said. “So try something different and pay attention to the whole process, make sure to evaluate at the end and figure out what you learned and can implement in the future.”
Ayo Mseka has over 30 years of experience reporting on the financial services industry. She was previously editor of NAIFA’s Advisor Today magazine. Contact her at [email protected].
