Does your marketing strengthen your credibility expertise? Or is it possible that what you’re doing is actually damaging your reputation and costing you time, money, and opportunities? In this post, I look at Good VS. Bad Financial Advisor Marketing.
Of course, no financial advisors deliberately uses bad marketing tactics. They simply don’t understand the difference between the good and the bad.
So what does bad financial advisor marketing look like?
- No clear audience
- No clear benefits
- No empathy for what ideal audience is going through
- No clear story
- Inconsistent messaging
- Inconsistent execution
- No clear marketing mindset or an undefined strategy
- Tactics that change without a clear why
- Focuses on selling versus educating and building credibility
- Focuses on converting leads versus building relationships
- No one owns its execution and outcomes
- Annoys more people than it attracts and engages
- Creates a “sea-of-sameness” name for yourself in your industry
- Constantly searching for the next big idea because most of what you touch loses effectiveness quickly or never really worked, or you didn’t stick with it long enough to experience the benefits
- Focuses on short-term gains
- Focuses on short-term ROI: direct measurable results that don’t account for long-term marketing benefits
Good marketing is good for your business. Good marketing takes time and requires effort and planning. There are no shortcuts. It builds your credibility, most importantly –– the basis for trust.
So what does good financial advisot marketing look like?
- Clear audience
- Clear benefits
- Clear story
- Empathy for what ideal audience is going through because you researched and know your niche
- Consistent messaging
- Consistent execution
- Clear marketing mindset and a defined strategy
- Tactics that evolve in alignment with a clear purpose/outcome/strategy
- Focuses on educating and building credibility
- Focuses on building relationships
- One person/team owns its execution and outcomes
- Attracts, engages, and endears people to you
- Creates a reputable name for yourself in your industry as a person who brings real value to the relationship
- Focuses on building momentum over time and understanding the direct and indirect benefits of good marketing
- Understands that keeping a client or inspiring them to refer is often more effective than just focusing on attracting new opportunities
- You are bought into a long-term strategy and you stick with it
- You create more value within your niche than other advisors because you are focused; they aren’t
You might be wondering how to jump from good marketing to great marketing. Great marketing can only truly be measured over many years. Great marketing is measured by the momentum it builds year after year. Good marketing done consistently over time keeps getting better and produces more and more results.
I hope you’ve found this article on ‘Good VS. Bad Financial Advisor Marketing’ useful. If you’re a financial advisor looking for help , please feel free to get in touch here. Myself and my team are more than happy to help.
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