Ellis Communications, L.L.C.

Financial Advisors Who Create Word-of-Mouth
Advertising Have Achieved A Pinnacle of Marketing

Financial advisors who create positive word-of-mouth advertising for themselves and the services they offer have achieved one of the pinnacles of marketing.  But how do they do it?

 “Tapping into the word-of-mouth market is not easy but it’s also not extremely difficult,” says Martin R. Baird, president of Annapolis, Md.-based Advisor Marketing and author of The 7 Deadly Sins of Advisor Marketing.  “It can be done by advisors who are committed to using this as a marketing tool.”

Baird offers the following seven tips on how to generate word-of-mouth advertising that can generate more business.

Tip No. 1.  It’s not enough to do one thing well.  “You must have many positive attributes before people will freely share the good word,” Baird says.  “People are stingy when it comes to telling others that something is good.  When one person suggests that someone try something, it’s an implied endorsement.”

Tip No. 2.  Create believers by consistently doing good work.  “You want people who, when they talk about you and your services, truly believe what they’re saying,” Baird says.  “Other people can tell if they believe.”

Tip No. 3.  Exceed clients’ expectations.  “People are jaded and they don’t take platitudes very well,” Baird notes.  “For example, they hear about numerous wonder solutions but know that few, if any, work.  Exceeding people’s expectations is hard to do.”

Tip No. 4.  Deliver as promised.  “Delivering as promised is not as easy as it sounds,” Baird explains.  “Your clients may have a very different idea about what you’ve promised.  What a person hears and what you actually say aren’t always the same.  Thus, sometimes they feel like you didn’t deliver.”

Tip No. 5.  Fine tune your client communication.  “The more clearly you define what you’re going to do for your clients and when you’re going to do it, the easier it is to be perceived as delivering what they want,” Baird says.

Tip No. 6.  Give people a reason to think of you.  “Reward people for mentioning you or your services,” Baird suggests.  “You could give them free tickets to a sports event or some other perceived reward.  The value is not as important as the recognition for what they’ve done for you.”

Tip No. 7.  Craft a game plan.  “It won’t take enormous effort to get your word-of-mouth advertising going but you should plan it out and give it careful thought before you proceed,” Baird says.  “A plan of action will increase your odds of success.”

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.  The company also provides a service that tests multiple variables of a marketing campaign simultaneously so advisors will quickly know which elements of a marketing effort offer the best opportunity for success before they launch the campaign.

The company’s Web site, www.advisormarketing.com,  is the premiere Internet-based source for 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. 

Advisor Marketing may be reached at 480-991-6420.