Three Components to Your Successful Marketing

When it comes to successful marketing for your practice, there are three central components to consider. We’ll break them down and hear how one advisor used Managed Marketing Services and attributed it to doubling his business growth last year.

The Three Key Components to Consider:

1.     Client Communications

Did you know that clients leave advisors – not because they are unhappy with performance – but because they didn’t hear from their advisor? This is true especially in times of mixed market signals and market volatility. The truth is, there isn’t enough time in a day to spend multiple hours with each client reassuring them in downturns, or giving them your outlook on the market landscape. That is where consistent client communications comes in.

Regular and substantial client communication can bridge the gap and not only reduce client attrition, but increase referrals. Timely emails that anticipate questions clients are asking, or that give market outlooks, are great ways to do this. But you need to have time to write the emails, an infrastructure to send them out, compliance approval and a publishing schedule to truly be effective.

2.      Digital Communication in Business Development

The role of digital communication in business development evolves more and more each day. From #personalfinance, to website optimization, to thoughtful LinkedIn posts, and direct emails, every channel you use is a way to establish the “know, like, and trust” factor – before you even meet a new prospect.

Bob Chitrathorn, co-founder and a CFO/VP of Wealth Planning at Simplified Wealth Management sums it up, “there’s many different avenues – YouTube, Facebook, LinkedIn, sometimes Twitter – and you have to kind of look at everything as a tool.” Chitrathorn says he’s realized that the more you use those tools, the more valuable they become. For him, it’s all about consistency. With executing his digital communication, Chitrathorn saw his practice double in growth — from 15-18% per year to 30% in 2021.

3.      Digital Presence of Your Practice

Finally, there is your digital presence – essentially the front door to your practice. Do you have a branded, cohesive, and easy-to-navigate website? Are you leveraging that website to reduce the amount of time it takes to gain a new client? 

What do your social media channels look like? Are they up to date and show consistent posting? What about your Google Business listing, which has become a must-have in the digital age. All of these and more play a key role in establishing you in the minds of prospects.

Chitrathorn sums it all up, “I'm a financial advisor. I need someone else to help market me so that I can go out and do what I'm good at -- improving people's lives and building my practice.” 

Learn more about how advisors are flexing their marketing reach. List to te Share-Cast podcast: 

Learn more about how advisors are flexing their marketing reach. Listen to the Share-Cast podcast: "High-Performing Financial Advisors Make Marketing a Focus" (full episode).

^{The views and opinions by the Financial Advisor(s) are as of the date of the recording. These views may not be representative of the views of other Financial Advisors and are not indicative of future performance or success. Neither LPL Financial nor the LPL Financial Advisor can be held responsible for any direct or incidental loss incurred by applying any of the information offered Any Advisor firms mentioned are a separate entity from LPL Financial.}