Marketing can be a daunting task for financial advisors; after all, how does a financial advisor even market their services to begin with? You could most definitely opt for referrals but money is a tricky business and most people steer clear of referrals when it comes to finances.
So here are five non-traditional marketing tactics financial advisors and consultants could deploy to reach out to their target audience without putting anyone’s reputation and credibility at risk.
Host client events
Client events are more than just a meet and greet; rather it goes above and beyond to prove to others your numerical and financial management skills and can be a great means to proving your skillset among your target audience.
If you plan carefully and cover the most debated topics, like retirement and employee benefits funds, investment plans, planning and managing taxation, or any other relevant topic that can be of interest to your dream clientele, then you can be strapped in for success.
The aim behind these webinars/seminars is to showcase your expertise and skills to your clientele in real time to build credibility and rapport. Moreover, you can surely bag new clients amidst these events and build lifelong professional relationships which can help you in your tenure.
Join small business think tanks
Small to medium-scale enterprises often account for most of the GDP of countries across the globe. They may be small in size, but the sheer numbers of small-scale enterprises make them a valuable asset for any financial advising firm, and bagging these clients can be a sure-shot professional win for you.
Small business think tanks can be your best at having access to a wide variety of clients who can benefit from your expertise. Moreover, being a part of think tanks, forming effective collaborations, and proactively engaging in meaningful discussions, can help you build your professional stance and get you worthwhile referrals.
What’s more is that being a part of a think tank can help identify the needs and gaps in the market and tailor your services to reach a wider audience.
Utilize LinkedIn
LinkedIn is the Instagram of the business world, and you don’t even need to put up fancy pictures to attract your audience. All you need is a list of good financial tips, answers to recurring financial issues, debate points on taxation, and any other valuable information that you can post, and you’re good to go.
Use the forum as your social media marketing tool and you’ll have no problem connecting with potential clients and fellow industry individuals, all of which can enhance your experience in the industry.
Make sure that all of your industry connections are in your connections list to show the target audience how your company/persona is legitimate and trustworthy. Connections on LinkedIn are what followers on Instagram are, so take them seriously and make sure that your pals and colleagues are on there!
Create valuable content
When you’re part of something as challenging and important as the financial sector, any piece of advice that you have to offer is of tremendous value to your clientele and audience. Hence, focus on offering content worth some value to the masses, and you can do this by opting for a blog, a YouTube channel, or even a podcast; any platform that can help you voice your suggestions should be in your marketing strategy.
You can start by discussing taxation since many individuals and groups often falter with it and shun it away. You can provide printable content that others can use, like tax preparation flyers, which act as a checklist for others when filing their taxes. Anything that can be of help and add value should be part of your content marketing plan.
Develop strategic partnerships
Partnerships in a professional setup can make or break your game, so choose wisely. Connect with industry professionals, like corporate attorneys, accountants, CPAs, CFAs, insurance agents, etc., to leverage their connections and information.
Most importantly, they can act as strong representatives for you and can help you secure new and recurring clients. They can even help you land a good, secure long-term client which may be more than enough for you. Just don’t forget to reciprocate the favors, as industry relationships are fragile and require a lot of maintenance and work.
As a financial advisor, your aim should be to market your knowledge and skills, so steer clear of conventional marketing ways. Market your industry knowledge, experience, skillset, and understanding of financial management and company relationships.
Even if you lack experience, you may still be a valuable asset to a company if you can prove yourself to be a team player and open to learning. Happy promotions!
