Seven Self-Promotion Marketing Strategies for Financial Advisors

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Financial advisors need effective ways to promote services in a challenging economy. A strategy that combines new and proven techniques is the best approach.

A newsletter program establishes expertise and keeps the advisor’s name and business top-of-mind.

With media spending expected to continue its downhill slide, independent financial advisors are wondering how best to promote financial service programs. In a weak economy, strategizing takes on an extra sense of urgency.

October is Self-Promotion Month, a perfect opportunity to remember these seven key strategies to keep your marketing programs focused, effective and within budget:

1.    Network — Personal relationships are crucial. Becoming active in civic clubs, professional associations and other groups can help financial advisors build these kinds of relationships. For example, advisors can establish a presence on social media sites such as LinkedIn, posting new content often and responding to requests promptly.

2.    Speak up — Serving as featured speaker for community group meetings can position an advisor as a trusted expert. Topics should be of interest to the specific group, and an educational approach is more effective than hard-sell tactics.

3.    Make a name — By hosting educational seminars, an advisor can reach out to prospective clients. The advisor should send personal invitations to targeted groups, require reservations (even for free events) for gathering contact information and follow up with a free consultation offer.

4.    Use the press — Press releases are a low-cost way for an advisor to get his or her name in front of a large client base. New and traditional media can be used to announce awards and new products, offer perspectives on national trends and position the advisor as an expert on complex issues.

5.    Take direct aim — Direct mail and e-mail marketing offer a highly cost-effective way to follow up with prospects, stay in touch with clients and solicit referrals. Professionally designed materials ensure that the advisor comes across as professional, knowledgeable and trustworthy.

6.    Cultivate referrals — An aggressive planning program can increase referrals. Advisors should focus on current clients and trusted associates, such as attorneys and accountants, providing information about business goals, expertise and client base.

7.    Spread the news — A newsletter program provides clients and prospects with helpful information, establishes expertise and keeps the advisor’s name and business top-of-mind.

For independent financial advisors, a customizable newsletter, such as Financial Directions offered by Progressive Impressions International (Pii), is easy and affordable. Financial Directions lets advisors:
·    Customize newsletters with name, photo and contact information
·    Select a cover message that reinforces skills and values
·    Tailor articles to reflect products and services

Fact: The Financial Industry Regulatory Authority (FINRA) reviews Financial Directions before it goes to press.

About Pii:
Established in 1993, Pii is a marketing firm with expertise in personalization and targeted campaigns. More than half of all Pii clients are in the Fortune 500, including seven of the top 10 insurance companies in the United States. Pii’s flagship product is Conductor, a Web-based system that enables users to choose, personalize and send marketing campaigns to selected prospects and customers. Print products include newsletters, greeting cards and all forms of direct mail. Pii has headquarters and production facilities in Bloomington, Illinois, with additional offices in Pompano Beach, Florida.


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