As a financial advisor, you probably face the challenge of being bombarded with various marketing tactics that promise to move the needle in your business. It could be through Facebook marketing, YouTube ads, radio shows, or seminars. The temptation to try out everything at once is high, but is it the right approach?
According to Brandon Stuerke, a marketing expert, trying to implement as many tactics as possible is a trap that many advisors fall into. This approach is commonly known as tactic overload. It is easy to get caught up in the excitement of a new strategy and forget that mastering and optimizing one strategy before moving to the next is key.
Before you add a new marketing strategy, take the time to maximize the ROI from any given strategy. For instance, if you are running seminars, optimize the seminar landing page, presentation, and follow-up process to get appointments to show up. Mastering one strategy at a time can do far more to generate a positive ROI in your business than layering on a whole new tactic.
The other reason for focusing on one strategy at a time is that you have limited time to learn and manage different marketing strategies effectively. If you are spreading yourself thin by trying to optimize your seminars at the same time you’re trying to learn Facebook marketing and working on a book project, you’re not being nearly as effective with any one of those strategies as you could be.
The temptation to try out new tactics is understandable, but the vendors selling these tactics are often good at triggering FOMO (fear of missing out). They make it seem like their product is the missing piece in your marketing puzzle. However, mastering and optimizing any marketing strategy is what generates the ROI you’re looking for, not just the implementation of any tactic.
In conclusion, tactic overload is a trap that financial advisors must avoid. Instead of trying out every new marketing tactic that comes your way, focus on mastering and optimizing one strategy at a time. By doing so, you will realize the full potential of the marketing strategy you’re already implementing, and avoid bleeding out unnecessary dollars. Remember, spending more money or doing something else that’s new is probably the last thing you should do.