As markets reach record levels, so does investor uncertainty. Maybe it’s due to headlines that read, “Stocks Waiver,” even when the DJIA and S&P 500 are only down 13.23 and up .08, respectfully. A more appropriate headline might read something like, “S&P on Track for 6 Quarterly Rise,” yet publishers still opt for shock value.
These are just some of the external challenges that make it difficult for Financial Advisors to develop a plan capable of breaking through the noise. If you struggle with developing a marketing plan that speaks louder than the headlines, these questions will help you identify areas of your marketing plan that need improvement:
- What are the workplace challenges that you think about on your drive home every evening?
- What is one objective from your 2014 business plan that you haven’t achieved yet? What is standing in the way?
- What is the most successful initiative of your marketing plan? How do you know?
- How many new accounts have you brought in?
- What percent came from referrals?
- How many client relationships have you lost within the past year? Why?
- Are there any clients that you haven’t spoken to in the past six months? What are you doing to prevent them from finding a new Advisor?
- Who are your raving fans? What is your strategy to prioritize these clients?
- What has been the most positive change you’ve made to your business this year? How can you communicate this to clients?
- What level of service do you expect in your own partnerships? How can you deliver the same experience to your clients?
- How do you engage clients’ spouses? What is your strategy for connecting with female clients?
- What aspects of your plan can be simplified? Are there initiatives that aren’t showing returns? If so, how can you reallocate this budget to be more effective?
By answering a few of these questions, you’ll easily identify areas that need improvement so you can develop a plan that is effective for building new relationships and strengthening your existing partnerships.