The planning and execution of financial services marketing has to be done with utmost care. A little mistake can create disturbing consequences that will be hard to recover from. The competition in the market is intense, and as a result the financial advisory firms should be up to date with the current trends in the market.
If the financial services are well marketed, then the company can be rewarded handsomely with quality financial planning leads, as well as better referral service from current clients and partners/affiliates. Therefore a marketing strategy that is well planned, comprehensive, and thorough is required to convert the prospects into potential customers. This will boost the ROI (Return on Investment) significantly. What you need to develop such a strategy is extensive market research and a competitive analysis, and also the knowledge of drawing customers by portraying the right message in the advertisements or marketing materials. Here are some tips and guidelines of effective financial services marketing.
Referrals are typically some of the best financial planning leads. But an advisor needs to have the capacity to nurture them effectively. Financial advisors sometimes use direct-mail, newsletters, e-newsletters, and even phone calls to gather and nurture referral leads.
Using direct-mail to capture leads for your financial services marketing plan can be a difficult process. Not only does your direct-mail piece have to draw a response, it also has to be targeted as well as compliant. Direct-mail has certain advantages over other means of lead generation. For one, it is cost-effective. You can reach a targeted list of prospects, based on certain demographics for a very attractive cost.
Educational events and sponsorships are also a good method of attracting leads in your financial marketing plan. Sponsoring events like fundraisers, sports events, community outreaches, and more can generate word of mouth and establish branding for your company, typically at a low-cost.
You can also bank on the media to advertise your services. Television, radio, newspapers, magazines, community newsletters, etc., are very good means of reaching out to your target audience. Make your ad copy concise and crisp, stating the benefits of your services. Write your copy in a way to attract only the best of leads, to ensure you’re getting the quality of client you deserve.
Conduct a brainstorming session for those who are part of the firm, for the financial marketing plan. This will ensure an array of different, unique ideas are tracked in the plan.
These are just a few of the tips to carry out an effective financial services marketing plan. Of course there are many more methods, and which methods to use will depend on your business structure, budget, and local market.
Author Resource:
Plug-N-Run Marketing is author of this article on Financial marketing .
Find more information about Financial services marketing here.
![[Valid RSS feed]](http://www.look4articles.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites
![[Valid RSS feed]](http://www.look4articles.com/images/rss.jpg "XML Feed For RSS")