Financial Advisors - Here are the top 3 Marketing Activities to Get Out of Your Comfort Zone

I have the hardest time getting financial advisors to get out of their own way when developing marketing activities for their practice.  Hello, I'm Suzanne Muusers, Advisor Business Coach and Brand Consultant since 2004.

Advisors come to me for help in building their business, and they need an unbiased set of eyes to help them figure out what they should be doing that they're not already doing.  For the most part, advisors are far too accustomed to staying comfortable. They don't want to get out of their comfort zone. That's where I help them – advisors need coaching to put in more effort into marketing their practices.

The following three strategies are some of the best practice building activities financial advisors can use to get more clients.  All three require real effort. The first two can be scary and require some finesse beyond what's written. The last one requires expertise and knowledge. But if you get into the habit of doing all three on a regular basis, you can significantly grow your practice within one to two years. I've seen it done!

I will briefly describe each strategy. Then I'll give you a key point to make the strategy work. Then I'll give you homework.

1. Creating Strategic Alliances - There are loads of people out there in a position to funnel clients to you.  They are attorneys, accountants, CPA's, and P&C insurance agents, and they have an existing clientele that needs your expertise.  Of course, you must be referable in regards to expertise and service offerings.

The key to making this strategy work is to NEGOTIATE.  Let's say you have a referral to give – you could say "I have a great referral for you, but tell me: what do you have for me? If I can regularly send you quality referrals, what can you do for me?"

Action Item: Start with your current network. Make coffee appointments with those in a position to refer clients to you.

2. Public Speaking - Giving a talk is by FAR the best way to get quality prospects in your pipeline.  The public views speakers as authorities on their subject and best of all, speakers have credibility. Giving a talk reaches far more prospects at one time than individual one-on-one networking and if you handle the evaluations correctly, you can be busy following up with prospects for months off one talk.

The key to this strategy is the give talks to established groups. If you try to create your own talk and fill it with your own audience, you will spend far too much time trying to get bodies into the seats. You should also consider joining Toastmasters to improve your skills and confidence so that you'll be a polished speaker.

Action Item: Ask your best clients what groups they belong to and solicit speaking engagements.

3. Article Writing – I was coaching an advisor to write original articles and post them on his website when he said he could "just get pre-written articles from his company."  Pre written articles are a dime a dozen. They do nothing for your credibility and they make you look lazy. Original articles position you as an expert in your industry.  You can add articles to your own website or post them online at article banks. 

The key to this strategy is in your bio at the end of the article. Your bio should "wrap up" the content message and show why you are the best person to hire as a financial advisor. 

Action Item: Start writing a list of article topics that interest you. Do keyword research to ensure there is a need for the topic.

Getting new clients is not rocket science but it does require effort. If successful marketing tactics were easy all advisors would do them. The good stuff takes effort and a requirement that you get out of your comfort zone. Give it a try – you'll be glad you did!

Please note: Information may not be what you need. It's the implementation that's important. Make a plan to tackle these issues today!

Next Steps: Hire Suzanne as your Business Coach

Suzanne Muusers is an ICF-Member Business Coach who has worked with hundreds of successful independent financial advisors, investment executives, and finance career professionals since 2004. She helps clients develop their Value Proposition, Ideal Client Profile, and Branding Strategy so that their marketing message appeals to affluent clients.

Suzanne Muusers

Business Coach
Prosperity Coaching LLC

Suzanne Muusers

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