Grant Hicks, CIM
Guerrilla Marketing
for Financial Advisors to be different in 2023
As a financial advisor
are you using the same tactics and strategies for marketing the same as most
other advisors? Are you using the same best practices tactics and tools as
every other financial advisor to grow your business? If you want the same results
as last year, then do the same thing. If you want to move upmarket and do
things differently you have to start thinking differently. This is where
guerilla marketing comes in. Investing Time energy and imagination into growing
your practice as a financial advisor this year. Here are a few ideas that are
different than the typical marketing that you read every day online.
Convert Ideal clients into ideal families
One group of advisors
did exactly that. They invited a lawyer who is a great speaker on how to have a
family discussion to a workshop along with three of their top families. The
financial advisors only had the parents as clients yet they asked the parents
to invite their children so they can understand what a family meeting looks
like and how to have a family meeting. Most financial advisors have never had a
family meeting so it's also valuable to the financial advisor. It was difficult
to get all three families together but the people that came got tremendous
value out of it and some of the children, who were aged 50 to 60 found
tremendous value and had a chance to meet their parents' financial advisors who
provides tremendous value. The financial advisor ended up having several
conversations with the parents and the children and added some children as
clients. An ideal client may have $2 million and each child may have $1,000,000
so an ideal family could double the assets or revenue and you go from a $2
million client to a $4 million family. Imagine if you converted your top ten
clients into ideal families this year.
Guerilla marketing in action
I wrote version one
and version two of Guerrilla Marketing for Financial Advisors ( https://amzn.to/3we8QzV
Guerrilla Marketing for Financial Advisors: Transforming Financial
Professionals through Practice Management Morgan James Publishing New York, The
Guerrilla Marketing series has sold over 21 million copies worldwide )
Innovation is about trying something you've never done and possibly failing
over and over until you get it right. Financial advisors need to innovate and
do things they've never done before. this financial advisor decided to invest
the time and not knowing exactly how to deliver this idea they tried it out.
Now, this is their formula for the rest of the year to get a majority of their
clients through family conversations. Investing time energy and imagination to
grow your business.
A spin on working with COI’s centres of influence
Every financial
advisor tries to build relationships with a center of influence. This includes
accountants lawyers, realtors, mortgage brokers general insurance agents
commercial mortgage commercial insurance commercial realtors, and more. I
encourage financial advisors to build their own network of professionals, and I
have a process to help them build that. One adviser decided to do things a
little differently. they had a core network of professionals and then they
built a niche group of network professionals. Their niche was working with
medical professionals. they decided to build a network of professionals that
focus on that niche. They had practice management experts for dentists, medical
salespeople, and consultants for financial professionals evaluation companies
that focus on medical professionals. Their niche network took their marketing
to a whole other level. This financial advisor had a core network professionals
of 10 or more and a niche network of professionals of 10 or more. With their
niche network, they created a mastermind group where they all learn from each
other and grew their businesses together. There are a lot of amazing details
that will be the subject of a future blog. This adviser chose to do things
differently and invested time energy and imagination into growing their
practice.
Thinking creatively
If you would like to
learn about more creative strategies click here to download my e-book https://freepracticemanagementbook.getresponsepages.com/
Find out why the guerilla marketing series has sold over 21 million copies
worldwide. Block two hours of your time in your calendar weekly to invest time
energy and imagination into growing your practice.
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