Marketing Strategies for Advisors who want to Crush It

Marketing Strategies for Advisors who want to Crush It

Marketing Strategies for Advisors who want to Crush It

By: Abby Salameh, Chief Marketing Officer
Published August 1, 2018

Every advisor wants to know how to up their game. With all of the options for marketing avenues today, it can be tough to stay ahead of things. There is social media, video marketing, blogging, client events, and more. Is it possible to do it all and still serve your clients well? What marketing strategies offer the best return? Are all the legacy marketing strategies dead and gone?

If you’ve had questions like these, you’re not alone. Every advisor wants to invest their marketing dollars wisely; ideally on strategies that will bring a positive return on investment. Our very own Abby Salameh, Chief Marketing Officer at Private Advisor Group, was recently a guest on the Belay Advisor Podcast, hosted by Steve Sanduski. If you haven’t subscribed yet, you’re missing out! It is an easy listen on the way to the office with weekly insights on how to grow your firm and better serve your clients.

Abby and Steve covered a lot of ground in this one-hour episode, starting with the current state of marketing. Advisors are seemingly in a fluctuating state right now, caught between legacy marketing tactics and more current digital strategies. Some advisors are reluctant to embrace new technology, which can help them be more efficient overall. It’s not that all the old school tactics are bad; no, far from it. Radio is still an effective marketing strategy when targeted appropriately. And believe it or not, the old seminar still works too. It can be in person or even recorded for a website. To continue to be effective, advisors will have to realize this shift to a digital era is required for legitimate growth.

Personalization is what Matters in a Digital Age

From radio to social media, it’s all about knowing who your audience is. However, some legacy aspects of marketing are being replaced with less-expensive options. Gone are the days of mass mailings and paper invitations; it’s much more affordable to go digital (and easier to measure the results). The reality is that more than 90% of people will go to Google when they want to know something about your firm. Clinging to legacy marketing strategies will only take you so far. Every financial advisor simply must have a current digital presence, including an up-to-date website and social media channels (Facebook, LinkedIn, and Twitter). It’s an ongoing process to keep your digital footprint fresh, but it might shock you to know that most of your prospective clients have made up their mind about you before they’ve even met you. In fact, you have 11 seconds for a high net worth prospect to decide if they’re going to reach out to you or not. Your picture, your website… those are the tipping point. Why wouldn’t you do all you can to maximize your exposure and boost your reputation online?

Don’t have time to create posts on Facebook or blog every single week about retirement? You can be efficient and creative at the same time. It’s ok to utilize the tools available to you, even canned content. Do what you can to personalize it for your audience; take a unique spin in your newsletter or the next tweet you send out. Find ways to repurpose another article, podcast, or even a study or news report.

Don’t Forget to Ask for Legitimate Referrals

We always ask our clients who want to grow their advisory practice if they reach out for referrals. When they say “yes,” I ask “how?” A line in your email signature is not asking for a referral! Just like your digital footprint, this request must be personalized. After all, money is personal. Referrals will always be the number one way for advisors to grow their practice. No digital platform can replace the customized guidance and advice of an experienced professional. Your client experience should reflect that; your clients ultimately care about their personal connection with you. They want to know their advisor is personally invested in their well being, more so than the performance of their own investments.

The bottom line? If you really want to grow your advisory firm, it requires a plan. You need to decide how much growth you want, and how you’re going to make it happen. We only scratched the surface in this podcast summary, so be sure to listen to this episode in its entirety and get all the details by visiting