Ellis Communications, L.L.C.

Don’t Let Tough Times Turn Focus On Marketing Fuzzy;
Create A List of ‘Hot’ Prospects and Go after Them

When economic times are challenging, it’s easy for financial advisors to lose their focus on their marketing.  They need to regain that focus and develop a steadfast belief in what they’re doing.

"During an economic slump, many advisors expand their marketing’s strike zone and that’s a mistake," says Martin R. Baird, president of Phoenix, Ariz.-based Advisor Marketing and author of The 7 Deadly Sins of Advisor Marketing.  "If they can’t get a hit - a sale - in this little area they call a target market, they expand their horizons.  They feel this overwhelming need to hit something, anything."

            Baird offers the following five tips and thoughts on advisors regaining the focus of their marketing.

Number 1 - One simple way to regain focus and kick-start sales is to narrow your target market to a list of "hot" prospects.  "The term ‘hot’ could refer to size, time to next purchase, key person in your community, etc.," Baird says.  "You decide what makes the list ‘hot.’"

Number 2 - Your "hot" list should have the names of people you want to do business with over the next six weeks or six months.  "Really work at compiling the list," Baird notes.  "This is your first and last priority each day.  If you have a moment to think, you should think about reaching one person from your list."

Number 3 - Give thought to the length of your list.  "I’ve read that the average person can remember between five and seven things," Baird says.  "Make it a list of seven so it’s easy for you to remember and give it top-of-mind awareness."

Number 4 - Plan how you will “touch” the prospects on your list in a marketing way.  "What will you do each week for the next 15 weeks to get your message across to them?" Baird asks.  "What will your marketing message be so that these people will call you and say, ‘Tell me more.’"

Number 5 - Don’t let tough times shake your belief in what you do.  "Display confidence when marketing to your hot prospects," Baird recommends.  "Believe in your products and services to such a degree that you empirically know that what you have to offer is the best thing for your clients at any given moment.  Do this and it will show through in all your actions and efforts."

Advisormarketing.com is the premiere Internet-based source for free marketing advice, information and tools for self-driven, success-oriented financial advisors who are demanding information that helps them market their practice, meet the needs of their clients and increase sales.  It offers such services as a free weekly electronic newsletter, free reports on how to conduct different kinds of marketing and evaluation of advisors’ marketing materials that is provided at no charge when the critique is posted online for all advisors to read. 

Advisormarketing.com also offers an electronic forum where advisors can learn from each other by discussing common problems, sharing ideas and gaining new insights from their peers.  Advisor Marketing may be reached at 480-991-6421.