St. Louie's Blog

Without a proper marketing plan, it can be very difficult to find and retain clients for your financial services. While many financial advisers treat marketing as an unnecessary burden that distracts them from their core business activities, it is actually through marketing that you get to build a loyal clientele that is exciting and fun to work with.

Marketing financial services is in fact much simpler than cold calling. Marketing activities, such as networking, PR and emailing can also lead to more profitable results, if done rightly.

Marketing Financial Services: Finding your Business Niche

There is no point in printing business cards until you have chosen your client niche. For instance, you could be looking to serve retired people, divorced women, or professionals from specific fields, such as engineering or healthcare. Direct your marketing efforts to the selected niche. The more well-defined your niche, the easier it gets to find new clients. In doing so, you get to establish yourself as an expert in your niche, while also catering to other clients outside the niche who may hear about you through word-of-mouth or other marketing methods.

To identify your niche, study your current client portfolio. Identify the commonalities in your ideal clients. Also, study your own interests and find out if you are more inclined to serve a particular set of clients or for that matter a particular segment of the population.

Marketing Financial Services: Master Your Marketing Pitch

Having identified your favorite client niche, you can now proceed towards mastering your marketing pitch. Include the essential elements of the pitch, such as your company name, products and services, and of course your client niche. You should clearly define your client niche and the services you offer to them. This will also help in getting new leads from non-competing businesses who are serving the same set of clients.

Marketing Financial Services: Participate in Networking Opportunities

Having developed your pitch, it is now time to find new clients. Participate in networking opportunities, such as events and seminars in your local area. If you provide online services, you can also attend webinars to meet new clients. Review your local business journal to find out more about local events. Talk to groups and associations where possibilities of meeting your client niche exist. Where possible, you can also encourage them to sign up for your business newsletter. Make sure that newsletter and any other journals that you populate are compliant with the local publication rules and regulations.

Marketing Financial Services: Devise a Follow-up Process

Create a system that allows you to follow up with potential leads. Whether in paper or electronically, you must consider a set of activities that can help you get in touch with prospects you’ve met through networking opportunities. Some options include sending an informative article or making a phone call. The objective is to spark a conversation that allows you to develop better relationship with the contact.

Marketing Financial Services: Create a Marketing Plan

Financial advisers clearly understand planning better than many other professionals. When you can spend hours planning for your clients, why not exercise the same effort for your own business and marketing activities. A proper plan of action guides decision making and helps you in staying focused. It is also important to tweak your plan for improvements. Set clear, realistic and achievable goals, and then find the best ways to achieve those goals.