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Developing deeper relationships with your clients and empowering them to share your value with their networks is a compelling way to expand your practice. Referrals are the foundation of most advisors’ growth strategies—but beyond that, what else should you consider? In another blog post, we explored 9 Creative Ways for Financial Advisors to Acquire Clients.
Creative strategies can set you apart from the competition as traditional marketing approaches fall short—especially among younger generations who prioritize experiences over information.
Discover three powerful strategies that are helping growth-focused advisors expand their reach and achieve remarkable results. You may find plenty of reasons to dismiss these tactics as you read them. However, as you plan for the year ahead, I’d encourage you to stretch your thinking and explore what’s possible—view compliance as a guide, not a barrier. As an entrepreneur, please look around; some of the most successful advisors are breaking barriers, expanding their reach, and sharing their value with the world.
Here are three innovative approaches to help you stay ahead and grow your practice in meaningful, sustainable ways.
As traditional marketing approaches fall short, especially among younger people who seek experiences more than information, creative approaches can set you apart from your competitors.
- Start a Podcast (even a Video Podcast). With a good Shure microphone or a smartphone, you can start a podcast in minutes. But before you start, think about who you want to reach.
Most podcasts appeal to a highly focused audience. Know your target audience and create content, examples, case studies, and graphics that will appeal to them.
Record it on audio and video. Post it to YouTube, which, because Google owns it, will scour it and probably present it to people searching for the topics you cover. Share links to the video and audio portion on your website, in your emails, on social media, with clients and partners, and anyone else – even people you don’t think will listen. You’d be surprised who listens or watches it.
Hint: It's okay if it's not perfect. Your audience is seeking insightful content that speaks to them. Focus on the words first and always.
Bonus Hint: It’s not about big numbers. It’s about finding your ideal clients who will watch and recognize your value.
- Invite Clients and Prospects to an “Ask Me Anything” (AMA) Session. People are clamoring for information, and often, their questions seem unique to them when, in fact, the same thing is making other people wonder.
By gathering people to ask their questions, beyond learning from each other, they appreciate the breadth of your knowledge and the types of issues you typically address. Run these live question-answer sessions on LinkedIn, Instagram, Facebook or YouTube.
Pick a catchy topic to address. Examples: Tax Tips for High Earners, How to Catch Up for Retirement. Have some prepared questions in case people attend but are reluctant to ask. Usually, one or two open the door to people asking more. You may even wish to ask your advocates to join and start the dialogue.
HINT: Attendance can skyrocket if you hold the workshop at a business looking for new customers or people eager to visit. Consider breweries, wineries, restaurants or coffee shops.
- Write a Book. Authors are treated like experts. They can present their books to clients and prospects, speak to groups, and be interviewed on podcasts and other media.
With the explosion of Amazon and other self-publishing platforms and services, writing a targeted book for your ideal clients isn’t as complicated or expensive as you imagine. Focus your book on what your audience would want to read. Write about how you help, who you help, how you came to understand the problem, your solution, and case studies of it working; you can invite your ideal clients to understand you on their own terms better. Perhaps this is the year you memorialize your value and expand your reach!
If you aren’t comfortable with writing, find a professional to help with the process.
HINT: People are far more willing to share their friends’ information with you if you ask if you can send them a signed book.
Coaching Questions from this article:
- Who on your team is responsible for developing your creative marketing strategy to find new clients?
- What systems do you have in place to quantify the success of these efforts?
- How will you leverage your team's creative strategies to expand your business?
About ClientWise LLC
ClientWise is the premier business and executive coaching firm working exclusively with financial professionals. We specialize in helping clients optimize growth and maximize revenue by engaging as a knowledgeable partner in accomplishing specific and significant business results. Our full-service coaching program empowers financial advisors, wholesalers, managers and executives to enhance performance through customized, action-oriented solutions based on each client’s specific vision and situation.
Our certified coaches are members of the International Coach Federation (ICF). They adhere to ICF’s strict code of ethics and have the experience and insight to work with you on the unique challenges and opportunities you face each day.
Drawing from an in-depth knowledge of the financial industry, ClientWise’s mission is to professionally develop industry leaders and consistently raise the bar for industry service, commitment and integrity. Simply put, our singular focus is to help you get clear, get focused, and get results.
Topics: Client Acquisition Most Recent
