Ellis Communications, L.L.C.

Free: The Ticket to Improving Your
Marketing and Growing Your Practice

           Free is more than a simple word that can grab people’s attention.  It also can be a motivating factor in a financial advisor’s marketing.

           "Some people think that free appeals only to the dregs of society, to those who have no money or who are too lazy to work," says Martin R. Baird, president of Phoenix, Ariz.-based Advisor Marketing and author of The 7 Deadly Sins of Advisor Marketing.  "That just isn’t true.  Don’t throw out the opportunity to use something free in your marketing because of your limiting beliefs."

           Baird offers the following seven tips on how to generate new business with the power of offering something for free.

Number 1 - One effective marketing technique uses a direct mail piece to offer a free survival kit.  "The recipient of the mailer must contact the sender to receive the kit, but they’re not likely to do so unless they’re reasonably interested," Baird says.

Number 2 - Those who make contact for the kit may become a qualified prospect.  That’s exactly what you want your marketing to generate.

Number 3 - Before you decide on a survival kit, identify your target market.  "Who are they and what do they want?" Baird asks.  "What would get them motivated enough to expend the energy to come see you or talk with you on the phone?"

Number 4 - While identifying the target market, think about their fears and frustrations.  "One of the best ways to get people to take action is to connect with their fears," Baird says.

Number 5 - Today’s 529 college savings plans could be the basis for an excellent survival kit.  The kit could contain a few fun items related to college plus information on 529 plans.  "What are the fears people have about sending their children to college?" Baird asks.  "A top-five answer has to be the financial strain, the huge challenge of paying for tuition, the dorm, the meal plan, etc."

Number 6 - Take the college savings survival kit one step further and bring a retail store into the picture.  "What if you offered free 529 seminars in a children’s furniture store?" Baird suggests.  "Parents or parents-to-be are the perfect market for college savings programs.  You could send the seminar invitation with your offer for a free college survival kit."

Number 7 - An off-the-wall idea like a free survival kit is an effective marketing technique.  All you need to do is take the risk and give it a try, Baird says.

Advisor Marketing provides a variety of services to financial advisors to help them improve their marketing methods and increase revenues, including seminars and conference speaking engagements on such topics as referrals, marketing, client communication and transitioning to fee. 

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.