14 Marketing Ideas for Financial Advisors

Being a financial advisor has its up moments and its down moments. Without a comprehensive marketing plan, however, there are often a lot more down moments that must be endured. If you’re ready to meet your full potential in this industry, then you’re ready to implement these ideas so that your business can grow, become strong, and offer a secure financial future for your clients.

The best place to start with this process is to think about what sets you apart from the rest of the competition. Why should someone choose to use your services instead of your competition’s services? Answer that question and you’ll be ready to start utilizing these marketing ideas.

Effective Marketing Ideas for Financial Advisors

1. Create a 30 Second Pitch
Every conversation that you have is an opportunity to create a referral, so master a 30 second pitch about the services you offer that can be said almost anywhere. Whether you’re in the checkout line at the grocery store or stuck in a crowded elevator, you’re talking with a potential client right there.

2. Get to Know Your Market
If you don’t know what your market really needs, then you’re stuck trying to find that out through trial and error. Rather than guessing at it, a comprehensive survey that you have people fill out can give you some feedback and help you transition toward some new products if need be.

3. Start Calling
If you just called six people every day, then you’d have conversations with 30 people by the end of the week that you wouldn’t have had before. That’s 30 potential clients. You won’t convert 100% of the people with whom you speak, but you will convert some and that means more business.

4. Always Follow Up Every Contact
Every time you have a conversation with someone, you have the opportunity to follow-up on that conversation multiple times. From reviewing items you talked about so that you’re on the same page to invitations to upcoming company events, you can establish a relationship and keep your business at the top of someone’s mind.

5. Ask For Referrals
When you meet with your clients, have a period of introductions so that you can offer the chance to ask for referrals. It can be as simple as asking for future introductions or a discussion of an upcoming referral campaign you might decide to run. Put it on every agenda so that you’ll get extra exposure in this way.

6. Use Free Information Liberally
Don’t just settle for a zip code or demographically based marketing campaign where you send out postcards about your services. Use this as an opportunity to direct people to a place where they can get free information that will help them start to solve financial problems they might have. It doesn’t have to be affluent zip codes or demographics either – there are customers who need help financially after a foreclosure too.

7. Separate Your Markets Into Niches
When you put people into a niche, you’re doing more than just creating a label for a certain population group. You’re also working to create relationships with these niche groups based on their specific characteristics. Men who are single fathers and work at the local factory, for example, are going to have different financial needs than a bachelor who runs his own business. Target them based on their individual needs with your marketing efforts and you’ll begin to create more opportunities for conversation.

8. Don’t Ignore Direct Mail
Cold call letters might be a thing of the past for many, but that’s because they are using form letters that are impersonal. If you’re creating a direct mail campaign [and you should], write personalized letters to a specific business and talk about the specific ways you can help that business succeed. Even if you just write three letters per day, that’s 60 unique targets you’ll create in just one month.

9. Start a Speed Networking Event
Speed networking follows the pattern of speed dating where you get to speak 1-on-1 with a lot of people for a short amount of time. This helps people have a conversation with someone that might normally be outside of their niche and will increase the chances of local networking that could be successful.

10. Get Involved With the Chamber
Exposure comes in many forms and your local Chamber of Commerce is a great way to meet others in your community. You’ll meet other financial advisors there too, which means you’ll have the chance to see what sets you apart… and then market that discovery as much as possible.

11. Hold a Weekly Lunch and Learn
There’s no such thing as a free lunch, but when you offer a free lunch with a presentation about your services, you’ll market toward a professional group that could really benefit from what you can provide. These events always have a lot of interest and you’re only out a few bucks and an hour of your time if it doesn’t generate a lead that week.

12. Offer a Workshop
People love to be fully independent and that is one of the biggest roadblocks in this industry. You can encourage that independence by offering specific tips and strategies during a workshop. Let’s be clear: the goal of a workshop is to provide information that sells your expertise. It’s not the place to make a direct sales pitch.

13. Drive Traffic To Your Website
A strong online presence tends to translate into strong financial results. There are a number of ways you can get your brand out to the internet at large. From article publication magazines to your specific blog, you can get a lot of valuable information put onto the internet that will lead people to your paid services.

14. Utilize Directories
You’ve got to go where your prospects are and sometimes that means getting listed on a directory of advisors. Don’t count on getting lots of traffic this way, but most of these are free and offer search services that can help people find you quickly.