As a financial advisor, have you ever found yourself in a cycle of despair? This is a state where you feel stressed and anxious about the lack of appointments and leads, and you have no idea how to fix it. At this point, you might come across an email from a vendor promising a shiny tactic to generate leads, and you get sucked in despite having been down this road before. This vicious cycle can suck the joy and energy out of you and make you susceptible to the false promises and hype of the financial industry.
The solution to this problem is to have a defined marketing plan. You need to take the time to do your due diligence on the front end and choose a plan that has the highest likelihood of getting you where you want to go. Just like a client’s financial plan, your marketing plan should give you the confidence and understanding that what you’re implementing will deliver results.
Creating a marketing plan is no different from creating a financial plan for a client. You need to take the time to understand the prospect’s situation, including their assets, income, and expenses, to recommend products that are in their best interest. It would be malpractice to recommend any financial products without a plan that the client can understand and believe in.
In conclusion, having a defined marketing plan is crucial for financial advisors. It will give you the confidence and understanding that your marketing efforts will deliver the results you want. Don’t fall prey to false promises and hype; take the time to create a plan that works for you and your business.