Ellis Communications, L.L.C.

Marketing Not Generating the Results Advisors Desire?
Have Patience, Keep At It and Grow Your Practice

One of the most basic questions financial advisors ask themselves during difficult economic times is how do they know if their marketing is working?

 "That’s a great question deserving of an answer," says Martin R. Baird, president of Phoenix, Ariz.-based Advisor Marketing and author of The 7 Deadly Sins of Advisor Marketing.   "When times are tough, it’s harder than ever to evaluate the effectiveness of your marketing efforts."

            Baird offers the following seven tips to shed some light on judging the results of marketing during trying times.

Number 1 - Most advisors pull the plug on effective marketing campaigns because they don’t see the results quickly enough.  Good things come from consistent, ongoing, never-wavering marketing, Baird says.

Number 2 - The cause-and-effect relationship in marketing works well in good times but advisors can’t expect that during challenging times.  "Today, you could send the mailer that was a proven winner in the past and not get a single phone call," Baird notes.  "Don’t jump to the conclusion that you need to develop a new mailer or stop doing direct mail altogether."

Number 3 - Advisors will know if their marketing worked after all the marketing activity is completed.  "The length of time it may take to get feedback varies and these days it can be a long time," Baird explains.  "Factors out of the advisor’s control – the threat of war, the threat of terrorism, the slow economy - could cause prospects and clients to hold off on reacting to your marketing message.  They will respond when the time is right for them."

Number 4 - Only direct-response marketing will yield measurable data.  "Direct-response marketing usually involves a coupon, time-sensitive offer or even a giveaway," Baird says. "By getting your perfect client to call you to take advantage of your offer, you can quantifiably track your results."

Number 5 - Use your best marketing ideas now.  "These ideas won’t do you any good if you save them for later," Baird says.  "Now is the time when you need to make a big splash."

Number 6 - Using your best marketing techniques at a time when people are less likely to respond is the most effective way to market.  "They offer the highest probability of generating a response and gathering new assets," Baird notes.

Number 7 - Times like these test one’s marketing faith.  "When you don’t get amazing results, it takes faith to hang in there and continue doing what you know is the best thing for growing your practice and helping more people," Baird says.

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.