No More Flying Blind

As a financial advisor, it’s essential to have an effective marketing strategy in place to attract clients and grow your business. However, many advisors fall into the trap of blindly spending money on various marketing campaigns without analyzing the results. This is what Brandon Stukey, a financial advisor coach, calls “flying blind.” In this blog post, we’ll delve into why tracking your marketing numbers is crucial and how it can help you maximize your return on investment (ROI).

According to Brandon Stukey, the first step in optimizing your marketing strategy is to track your numbers. It’s not enough to say, “I generate about this many leads,” or “I close about this much business.” To truly understand the effectiveness of your marketing campaigns, you need to dive deeper into the metrics. That’s why Stukey created what he calls the “Next Level Marketing Scorecard.” This scorecard is a collection of all the different Key Performance Indicators (KPIs) or marketing metrics that you should be tracking in your business.

The scorecard includes metrics such as the number of leads generated, the amount spent on marketing, the number of appointments scheduled, the number of appointments attended, the number of closed deals, and the revenue earned. By tracking these numbers, you can determine which campaigns are working and which ones are not.

Stukey warns that many advisors spend thousands of dollars a month on direct mail, Facebook ads, radio ads, and other marketing channels without ever analyzing the results. This means they could be wasting their marketing budget on campaigns that are not effective. To avoid this, Stukey advises taking the time to analyze each campaign’s results carefully. This includes looking at the numbers and determining what worked and what didn’t. By doing this, you can improve the campaigns that are not performing well and maximize the ROI of your marketing dollars.

Tracking your marketing numbers is not only important for optimizing your current campaigns but also for scaling your business. As you add more campaigns, it becomes even more crucial to gauge what’s driving the ROI for you. This will help you focus on optimizing the areas that need improvement and help you determine which campaigns are generating the highest ROI.

In conclusion, as a financial advisor, tracking your marketing numbers is essential to maximize your ROI and grow your business. By using Stukey’s “Next Level Marketing Scorecard” or a similar tracking system, you can analyze the results of each campaign, determine what’s working and what’s not, and optimize your marketing strategy accordingly. Remember, everything works, but the question is how well does it work, and does it work better or worse than something else?

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