low cost marketing ideas build business, boost referrals and attract ideal clients marie swift
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Low CostMarketing Ideas
Build Business, Boost Referrals and Attract Ideal Clients
Marie Swift
Three Secrets to Marketing Success
• Schedule time to reflect• Create a marketing plan• Work your plan
Think them through.
Year-End Marketing Questions
How are you doing?
Year-End Marketing Review
• Start with yourself. How did you do?
• Then include your team. What do they think?
• Devote time and thought to marketing in your annual meeting.
• Review your expenses and results. What worked, what didn’t?
• What is planned for next year?
Follow “the 3-M’s of marketing” for best success
Define your market
3 Ms
Create your message
Develop your materials
Revisit Your Marketing Plan
—Define your market
• Understand the niche markets, your opportunities, and
channels for reaching your target market
• Do a SWOT analysis
…… - strengths, weaknesses, opportunities, threats
• Write a detailed description of your ideal client
1
—Create your message
• Create the value proposition / marketing message
• Write a positioning statement
• Look at other advisors’ brands by visiting Web sites
• Evaluate your brand decisions – company name, tag line, logo, color pallet, central messages
• Polish verbal/ written identifiers that make you unique and communicate the value you bring
• Think BENEFITSBENEFITS to clients -- NOT featuresNOT features of your service
2
—Develop your materials
• Polish your bio
• Update your Web site
• Update core collateral materials
• Develop new items: yellow pages ad, post cards, sales letters, event invitations, community directory ads, press kit, news releases
• Create a 13 month activity calendar
• Create tracking sheets for your marketing campaigns
3
OverviewSix-Element Marketing Plan:
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1
2
Create a development and rollout schedule
Identify marketing tactics
Set aside appropriate resources for execution4
5 Integrate into your business plan
6 Measure plan success
Document marketing goals
Benefits of a marketing plan
• Clear understanding of the types of clients you are best suited to serve
• Define your unique value vs. your competitors
• Identify specific barriers you may be facing
• Track and make adjustments
• Identify the most appropriate tactics
• Line up right resources and execute effectively
• Avoid wasting valuable resources via an uncoordinated marketing effort
Who are you selling to?
– Target markets: primary, secondary
– Describe demographics and psychographics
– Who are you most comfortable with?
– Who will spend money with your business?
– How do they get their information?
Good planning includes knowing your client
Identify your skills
– Writing skills
– Speaking and group presentation skill
– Networking and conversational ability
– Marketing experience
– Recognizing and facing your fears
Good planning includes knowing yourself
Rate your skills
Skill 5 4 3 2 1
Writing
Speaking / group presentation
Networking / 1-to-1 conversations
Marketing / PR experience
High Mid Low
If you don’t have the skill, find somebody else who does and collaborate or bring them in to help you.
Writing opportunities
• Web site
• Newsletter – soft or hard copy
• Email campaign
• White paper creation
• Book author or contributor
• Print advertising
• Yellow pages ad
• Client survey
• Direct mail (letters, postcards, etc.)
• Greeting cards
Speaking opportunitiesSpeaking Opportunities• Client events
• Prospecting events
• Sponsored events
• Workplace education
• Trade fairs / Community fairs
• Intermediary seminars
• Advisory board
• Sponsorships
• Community involvement
• Professional networking
• Social networking
• Referral strategy
Using your PR skills
Radio spots or appearances
Television ads or appearances
News releases / announcements
Editorial and bylined articles
Leveraging media mentions
Media relations
Diversified marketing portfolio
Hosted Events Client
Appreciation and Bring-a-friend
Direct Communication
Correspondence, Post cards, Newsletters,
Email, Telephone
Industry Leadership
Peer networking, Credibility Factors
Niche Market Visibility
Volunteering, Networking,
Speaking, Writing
Media Relations Getting published ups visibility and
credibility
Public outreachSeminars,
Sponsorships, Fund raisers
AdvertisingTargeted
Making it real
Moving from dreams to goals requires … … the power of the written word.
3
1
2
4
Dreams
Goals
Objectives
Tactics
Differences between goals and objectives
• Goals are broad - objectives are more narrow
• Goals are intentions - objectives are precise
• Goals may be intangible - objectives are always
tangible
• Goals are subject to interpretation - objectives can
be validated by the numbers
Goals/ Tactics – Client focused
Increase awareness among existing / prospective clients
Refine initial presentation and positioning statement Develop media relationships - be quoted or published Establish or strengthen Web site presence Add Client Portals / Virtual Vault Start or improve drip marketing programs Create or re-work prospect letters Automate letter and postcard process Create/distribute e-newsletter for clients Offer public seminars or lunch-and-learns 4 x year Approach HR Director at Company X Host one client appreciation or networking event
You don’t have to do it all
• Being overwhelmed is a leading cause of procrastination
• Pick 2-3 things• Do them consistently and well• Leverage your strongest skills• Diversify as you can • Add more activity and expense• Be tenacious
Get a Coach or a Buddy• Someone who’ll be honest with you
• Someone who knows a few things you don’t
• Someone who’ll hold you accountable
• Cost for a colleague – your time and theirs
• Cost for a pro $300 - $1500 / month (or spot coaching)
• www.EdwardJacobson.com - Edward Jacobson, Ph.D.
• www.MaryLaceyGibson.com - Mary Gibson, CFP®
• www.BrianKoval.com - Brian Koval
• www.DMacConsulting.org - Diane MacPhee
• http://www.impactcommunications.org/files/TrustedResources.pdf -- Trusted Resources “Swift Seal of Approval”
Brand evolution
• Companies also grow and change
• Your brand should reflect your current
clients and service offerings …
• And project your vision for the future
Case in point
Good brand foundation
Celebrate Milestones
• 25th anniversary• Marketing Makeover• New Branding• New Web Site• New Brochure• News Release• Letter to Clients with Enclosures• Fun Insert – Historical Look at Last 25 Years
Create a Referral Program
Create small stickers• Put on back of envelopes• www.WebSticker.com • 3,000 for under $200
Keep top of mind• Add PS to end of all correspondence• Mention in newsletters• Use branded pens, letter openers, useful items as easy
handouts• www.iprint.com \ www.queensboro.com
Thanks for your referrals!
We’ll take good care of your friends and colleagues.
Get free financial information:
www.myWebSite.com
Make It Easy to Refer You
• Keep Lucite racks full of brochures, reprints
• Slide calculators = Attractive, fun and interactive
• Require no explanation
• Help people understand and
• Motivate them to act
• Great value for budget dollars • www.advantagepublications.com/finances.html
Referral Brochure
• Keep in lobby in Lucite rack or mail out 1x year• www.ClientWhys.com = Ready Made• Or design your own
Conduct a Client Survey
• Let clients know you care what they think
• Single topic or multiple questions
• Mail-out with Fax-back or mail-back options• 3 Question survey
– Start / stop / continue
• Online surveys - quick and easy
– Easy to set up and send
– Easy to track results in real time
– Free or low cost
Client Surveys…Onlinewww.SurveyMonkey.com
Professional Subscription: $19.95/month• Up to 1000 responses per month• No long-term contracts• Cancel at any time• Unlimited number of surveys• Unlimited number of pages and questions• Completely unbrandedBasic Subscription: Free• Your surveys include promotion for surveymonkey.com• Survey responses remain private• Limit: 10 questions and 100 responses per survey
Conduct a Client Survey
• Hire a third-party
• Get more free survey tips at: www.advisorimpact.com/download/making_client_surveys_work.pdf
Leverage Your Survey Results
• Letter to clients summarizing responses
• Thank you notes or gift to respondents
• News release to local press
• Post on Website news release or news summary
• Add to your Clip Book
• Article in your newsletter
• Use information to improve service and client
communications
• Beef up your Client Knowledge Base
Polish Up Your Elevator Speech
Positioning Reminders• Get positioned in your prospect’s mind.
• Use one simple message.
• Set yourself apart from your competitors.
• Don’t try to be all things to all people.
• Stand for one distinctive thing that will give you
the competitive edge.
Get Your Message Across
• Articulate results & benefits of working with you
- Don’t talk process
- Don’t talk features
• Keep it simple, easy and quick to grasp
• Use “word pictures”
• Repeat key messages
• Reframe, rephrase, restate
Practice Others-Centered
Communications
• With Read articles in FPA Solutions magazine and on MorningstarAdvisor.com
• http://www.impactcommunications.org/whatwedo. asp?SPID=48238&Title=News+Room&OrgID=1655
Thank youWhat are the top 3 things you will do next week?This year?
Marie Swift, PresidentImpact Communications Inc.
2007 West 91st Street, Ste. 201Leawood, KS 66206
Phone: (913) 649-5009marieswift@impactcommunications.org
Reminder:
A good marketing plan isessential to your successas a financial planner!
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