Monthly Archives: December 2011

Top 5 Low and No Cost marketing strategies

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This is my last post of 2011. The end of the year is always a great time to take a step back and plan for the following one. By the middle of December most clients aren’t interested in seeing their adviser, they’ve got other more important things on their mind. So this is a great time to consider what you can do to make sure you hit the ground running when the world gets back to normal after Christmas. In the spirit of sharing I thought I’d offer you a few marketing ideas that you might want to consider using during 2012 to grow your business in what will undoubtedly be another tough year for advisers.

The beauty of each idea is that they needn’t cost you a penny. You will need some time, effort, energy and some creativity but you won’t be raiding your bank balance.

1. PR/Publicity

Every time your name or that of your business appears in print, you are automatically seen as an expert. Whether that is writing an article for the local (or national) paper, offering comments on the latest interest rate or market movement, you instantly gain credibility. What’s more most papers are crying out for good content and can’t afford to pay freelance journalists to write it for them and will probably welcome material from you with open arms. You need to tread carefully but it can often pay to take a contrary or occasionally provocative stand if you want to get noticed and stand out.

2. Go meet your top 10 clients

Not to give any advice, but just to say thanks, ask them what they value most about what you do for them and to see who they know who might also value the same thing. (A referral to you and me).

3. Get Networking

The key benefit of attending industry conferences and events is to share ideas with and learn from other advisers. I get that and encourage it. But you won’t find any clients there! Go anywhere that people in your target market might hang out. There are tons of trade shows and events that you can get into for free. Make sure that at least half of the events you go to are events that your target market will be at, in large numbers.

4. Public Speaking

Some people might well prefer to have their toe-nails extracted but any time you get up to speak in front of an audience you are marketing. There are many opportunities to speak to interested parties, prospects and better still, qualified prospects, all over the place.

5. Keep in Touch

If you aren’t keeping in touch with clients at least monthly via email, or maybe an email newsletter, you are definitely leaving money on the table. Yes it has to be topical, relevant and interesting, but your clients will value it and you will remain top of mind.

We find comfort in those who agree with us, growth among those who don’t

Frank A Clark

Adviser Charging – Fee Options

Written by . Filed under Financial, Marketing, Pricing. No comments.

At a recent series of conferences at which I was speaking a number of questions were posed during the day, one of which sought to establish how advisers are typically charging for the work that they do. I think it’s fair to say that a percentage of assets under management was the most common approach. Interestingly, the results of the polling system suggested that a high number of firms were using a combination of different charging approaches so I thought that this synopsis of the pros and cons of the most common fee approaches might help anyone still wrestling with finding a solution that they feel will work for both their clients and the business.

You may not be responsible for your company’s past but you are responsible for its future

7 steps to evaluating your client proposition

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I recently had the pleasure of speaking at 3 conferences on the subject of  how to build a client proposition fit for the post RDR world. The key take-away from my session was that advisers have to engage with clients on an emotional level in order to help their clients see the value of what they do.

Many advisers seem to struggle to create a high value client proposition that they can deliver on anything approaching a consistent basis. The starting point is often to take a step back and think long and hard about what you already do for your clients and how much value those things add from the client’s perspective. Here are seven quick questions to get you thinking about what you do and how you do it.

  • What do you currently do for clients and how consistently is it delivered?
  • What degree of variation is there across the business?
  • What is said to clients at the point of sale/advice?
  • What would your administrators say about the variation in what is being offered/promised/said to clients?
  • As a client, would my experience be the same irrespective of which adviser I happened to be working with?
  • Do clients understand your proposition and what they can expect from you?
  • Do you have the infrastructure (people/processes/resources) to deliver your proposition consistently and profitably?

Answering these questions will at least help you to identify where the gaps are in your offering and your ability to deliver it time after time after time.

Opportunity rarely knocks on your door. Knock rather on opportunities door if you wish to enter

B C Forbes