5 marketing strategies for financial consultants

Business development is part of any financial advisor’s day-more business equals a greater bottom line. There are always more accounts to get, more referrals and more new customers to find. When it comes to your business growth, the world is yours, but only if the return is worth it.

The two easiest ways to obtain new business are to seek recommendations from existing customers and to research your existing business in depth to discover new assets that can be transferred in other institutions. But if this is not enough, what will happen? If you need to expand your marketing efforts, it’s time to think outside the box and explore non-traditional business development methods. This includes using the power of the World Wide Web to show your customers your concerns and learn from your colleagues.

Here are five new ways to market yourself and your business.

1. Host customer events

Instead of asking your existing customers for recommendations and having to follow them up, let the recommendations come to you directly. Holding customer events is a great way to express gratitude to existing customers and build relationships by letting them get to know you on a personal level and at the same time meet new potential customers.

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Ask your customer to bring a guest, and each additional one may be a new account opening. It’s much easier to follow up with potential customers you meet in person, not just on the phone when you call from the referrer.

2. Start blogging

Creating a blog and updating it regularly (at least once a month) is a great way to showcase your expertise, share useful information, and find it in search engines such as Yahoo, Google, and Bing. Posting blog posts about topics that customers search for using keywords will help customers find you when they type those words in the search bar. Owning a blog is like owning a book. It is a tangible product that will give you credibility when someone enters your name in Google.

3. Sign up for social media

When you request a recommendation and make a call, you can only reach one customer at a time. On social media networks such as LinkedIn, you can reach all your contacts at the same time through one operation. This is a more effective way to share information and communicate with customers.

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As an added bonus, social media networks will actually recommend new contacts for you based on common interests (such as location, current and past employers, skills, and other common relationships). The phone book cannot do this.

4. Join a small business think tank

If you have the opportunity to join a planning team, you should seize this opportunity. These types of groups usually exist online, and they are equivalent to the practice management of a traditional book club. A group of professionals who have something in common (such as financial consultants working in the investment industry) gather to share best practices, brainstorm new ideas, talk about their businesses and find ways to collaborate. This is a great way to meet new people, mentor newbies, and learn new ways to enhance daily operations.

If you can’t find a planning team, why not start one? Expand your digital marketing strategy and contact other financial advisors on LinkedIn to start brainstorming. Set a time each week to meet and choose a topic to share ideas. The advantage of these groups online is that you can connect with professionals in different locations outside of your area.

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5. Participate in local social events

If you want to increase your influence, one of the easiest ways to meet with other professionals in your area is to participate in local social events. Contact the small business owner associations and local chambers of commerce in your area to see if they regularly organize social events for members.

If you prefer to communicate online, you can search for the name of your town on LinkedIn to find local online groups and associations. Every time you ask a question, answer a question, or post in these groups, your name and title will appear in front of all members. This is an economical and time-saving way to meet new people, market yourself (along with your skills) and develop your professional network.

Bottom line

Consultants who wish to increase their marketing efforts online and/or in person should consider implementing some or all of these strategies to help develop their practices.


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