Business development is a portion of almost any financial advisor’s day – more business equals a larger bottom line. There are always more reports to get, more referrals to request and more new customers to prospect. The planet is yours when it comes to the growth of your business, but only if the reward is well worth the work.
Two of the simplest ways to acquire a new company would be to ask for referrals from current clients and dive deeper into your existing book of business to discover new resources at other associations that you can transfer in. However, what happens when this isn’t enough? Should you need to enlarge your advertising efforts, it is time to think outside the box and explore unconventional ways of business growth. Including using the power of the World Wide Web, showing your clients you care and learning from your coworkers. (For more, see: 6 Essential Marketing Tips for Financial Advisors.)
Here are five new ways to market yourself and your business.
Host a Client Event
Instead of asking your existing clients for referrals and having to follow up with them, why not allow the referrals to come right to you. Hosting a client event is an excellent way to show appreciation for your present customers, build a connection by letting them get to know you on a personal level and meet new prospective customers at the same time.
Ask your clients to deliver a guest and each plus one could be a new account opening. It is much easier to follow up with potential customers who you’ve already met in person instead of just being a voice over the phone if you cold call from a referral.
2. Start a Blog
Starting a website and updating it regularly (at least once a month) is a fantastic way to showcase your expertise, share helpful information and be found in search engines like Yahoo, Google, and Bing. Publishing blog articles on topics that clients are searching for by using keywords help you be discovered when clients type those words into the search bar. Having a blog is like having a publication, it is a tangible product that gives you credibility when someone types your name into Google. (For related reading, see: development Strategies for Financial Advisors.)
3. Subscribe for Social Media
When you ask for referrals and do cold calls you’re only reaching one client at a time. On social media networks, such as LinkedIn, you are reaching all of your connections at precisely the exact same time — with a single action. It is a much more efficient means to share information and communicate with clients.
As an additional bonus societal networking networks really suggest new connections for you based on common interests such as location, current and previous employers, skills and other connections in common. The telephone book can’t do that.
4. Join Small Business Think Tanks
In case you’ve got the opportunity to combine a mastermind team, you should jump at the opportunity. These kinds of groups typically exist online and they’re the practice management equivalent of a conventional book club. A group of specialists who have something in common (such as financial advisors who are employed in the investment sector ) get together to discuss best practices, brainstorm new ideas, discuss their company and look for ways to collaborate. It’s a fantastic way to satisfy new folks, mentor newbies and learn new ways to enhance your day to day operations. (To learn more, see: Best Strategies for Winning New Customers .)
If you can not locate a mastermind group, why don’t you start one? Expand your electronic marketing strategy and reach out to other financial advisors on LinkedIn to begin brainstorming. Set a time every week to meet and pick a topic to share ideas. The benefit of these groups being online is that you may connect with professionals in various locations outside of your local place.
5. Attend Local Networking Events
If you would like to raise your centers of influence one of the easiest methods to meet other professionals in your region would be to attend local media events. Contact the small business owners association and local chamber of commerce in your area to find out whether they have regular networking events for the members.
If you want to network on the internet, you may search for the title of your city on LinkedIn to find local online classes and associations. Each time you ask a question, answer a question or post something in those groups your name and title pop up in front of all of the members. It’s a price and time-efficient way to satisfy new folks, market yourself (as well as your skills) and grow your professional network.