Online marketing is really just beginning to take off in the investment management field. I get asked almost daily from financial advisors and RIAs what they should be reading, what they need to learn, where they should spend their time to bring in new prospects.
Like Stephanie Sammon’s recent LinkedIn poll of hundreds of financial professionals, advisors want more prospects.
I can help you answer the question of how do financial advisors get more clients.
To make you lives easier, I’ve done 3 things for you (2 free and one that requires a small commitment):
- A weekly marketing podcast called AdvisorGo (free)
- AdvisorInsider — my weekly email full of real tips, tools and techniques to help you grow your practice (free)
- The Marketing Tearsheet (example below) which is my weekly compilation of the most actionable marketing advice from the best sources around the Web
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The Marketing Tearsheet for the week ending October 31, 2011
Fall marketing activities are in top gear as financial firms continue to invest in online marketing. Investors are spending more and more time online and the largest social networks (like Twitter and Facebook) continue to post impressive growth.
Caution: Lots of how-to advice for advisors to ramp prospecting and grow their practices…
Marketing advice — the best from around the Web to help you grow your practice
- On mentoring young advisors (running your practice): Finding a way to shepherd young advisors through a career path and getting them to stay is really important for a firm’s long term growth.
- How webinars led an injured jock to $1.7 million in revenues (prospecting): Webinars are a great way to create a vibrant propsect pipeline. You can also monetize them — this interview looks under the covers of a very profitable webinar strategy.
- With free content, focus on the ‘free’ (marketing): The founder of Evernote (great research tool) discusses the strategy (freemium) that makes his customers rave about his product and company.
- 7 point checklist to create a profitable website (marketing): Many advisors are looking to their websites as additional revenue streams. If you’re doing many of the things on this detailed list, revenues should follow closely.
- How to handle a PR crisis (crisis management): Using Netflix’s recent media fiasco, this article provides advice to advisors on how to handle a crisis with your brand or business.
- 5 psychological hacks to improve work performance (productivity): This article outlines positive psychological principles and tactics that increase performance at work. Hint: focus on happiness, feel and emit positive vibes.
- How to publish a book in 2 weeks for less than $250 (marketing): Don’t wait for a six-figure book deal. Instead, this strategy builds a quick and easy first book to see if it sells, grows your practice.
- 4 ways to use video to grow your audience (marketing): Video is engaging and puts a face behind your marketing efforts.
- 99 ways to build links to your website by giving stuff away (marketing): Prospects like to reciprocate when they getting something valuable for free. Here’s how to get new prospects through a ‘free strategy’ and get other sites to link to you in the process.
- Translating successful YouTube videos into sales (marketing): Surprisingly, many of the most watched videos being watched online were created for under $2k. This article looks at the model of creating content cheaply and raking it in.
- Upcoming social media conferences (events): These are the important social media events closing out 2011 and into early 2012.
Media trends — stay ahead of the curve
- Cisco: Video will provide 90% of web traffic in 3 years (media): The network hardware firm is betting big on video. It’s popular and getting bigger.
- We haven’t even scratched the surface of Twitter’s value (media): Twitter has become one of our major online identities and that is becoming mainstream in ways that people aren’t really talking about. Here’s a few.
- Imaginging a new social platform (media): Social media is in a bull market but they’re just too noisy. The brains at M.I.T. envision a new type of network that just works.
- Social media reaches 80% of Internet users (media): New Nielsen numbers show that social media isn’t a fad — it’s how people spend time online. That’s a great opportunity if you can crack that nut.
- Marketing officers see social media as part of larger media strategy (media): Sales success via social media moves the dial most when it’s combined together with other marketing channels.
- Bull market in financial advice (media): With investment banks just shadows of their former selves, the investment management industry is stepping up to provide advice — good and plentiful.
Investor profile — what today’s evolving investor looks like
- How to choose a broker (investor profiling): Graphical representation/flowchart providing advice to retail clients on how to chose a broker.
- The unfaithful client (wealth personalities): Almost 30% of households with over $5M in assets use 4 or more advisors. More on the barriers — and opportunities — to get the high-net-worth to consolidate assets.
- Do more frequent financial communications make clients rest easier? (investor behavior): When markets fluctuate, many of us pull back from proactively communicating with our clients. Perhaps the opposite would work better — clients frequently fire advisors over “insufficient communication.”
Presentations/data
- Architecting a connected entreprise (running your practice): Consultant Jeremiah Owyang 75-slide keynote on social media readiness for businesses.
- How stories are created and shared in this market (video): Defines a framework on how to share content with the widest possible audience in the most effective way.
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To make you life easier (and help you grow your practice), I’ve done 3 things for you (2 free and one that requires a small commitment):
- A weekly marketing podcast called AdvisorGo (free)
- AdvisorInsider — my weekly email full of real tips, tools and techniques to help you grow your practice (free)
- The Marketing Tearsheet (example below) which is my weekly compilation of the most actionable marketing advice from the best sources around the Web
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If you’re interested in learning more about curation, check out some of our other articles on the subject:
- 3 tools to help you appear good at everything (content curation)
- The financial advisor’s #1 objection to curation
- Best actionable marketing links for advisors
