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Do Financial Advisors Measure Their Marketing? Marketing Articles | June 28, 2009

"Throw something against the wall and see if it sticks!" I said to a startled financial advisor prospect.? "That's how you are measuring your marketing right now" I continued. ?A prospect had found me on the internet and called to find out what he should be doing more of and what he should let go of.? The only problem was that he was just guessing with regards to what marketing activities were working for him.



Part of managing your financial advisory practice like a business is to measure what you are doing. It's called "Marketing Return on Investment" and it's a calculation. You need to calculate what you are putting into your marketing: the time, the effort, and the cost.? You also need to calculate what you are getting back from your marketing: revenue Wholesale Anders Bjork Jersey , benefits other than revenue, and future potential.


Managing a financial advisory practice like a business is part art and part science. The art is managing your clients and giving them something tangible other than above average returns on their investment.? The science is being a professional entrepreneur and measuring how your marketing works.


This assumes you already have a great, innovative marketing plan. If you don't, you need to spend a good two months brainstorming on how to stand out from the competition and before you begin writing your marketing plan.


One simple way to measure your marketing is to implement a process that forces you to analyze your business on a yearly basis. Here are the steps:

Begin asking where your clients found out about you. Create an excel spreadsheet. On the? horizontal axis list marketing tactic Wholesale Bobby Orr Jersey , cost to implement, revenue received from the tactic,? return on investment (revenue divided by cost ? expressed as a percentage), what you get out of the tactic other than revenue Wholesale David Pastrnak Jersey , what you dislike about the tactic, and the future potential of the tactic. On the vertical axis, list all your marketing activities. You should have a decent mix of marketing tactics such as email newsletter (people no longer want mailed versions), every networking group you belong to Wholesale Brad Marchand Jersey , public speaking tactics such as seminars and workshops, volunteer work, referrals, advertising Wholesale Tuukka Rask Jersey , and the like. Analyze the statistics. What is truly working and what is a dud? Are you surprised at any of the results? What one tactic could you double to double your revenue?

Follow these steps and you will be managing your business more like an entrepreneur rather than a cookie cutter financial advisor. The advisors who build big books are those that are organized and productive with their marketing. Make sure that's you.


Copyright? 2009 |Suzanne Muusers


Reprint Rights: You may reprint this article as long it is printed in its entirety including the about the author information.? Please leave all links active, do not edit the article in any way, and include the copyright statement.


We are all so very happy to see that the First Lady has made reading a renewed priority for our country. The literacy issue is a big one. Kids are being passed year after year and still not able to read in High School. One issue, which is quite evident is the incredible turn over of teachers. There is a 50% attrition rate of teachers in Five years. This is somewhat similar to Corporate America too Wholesale Patrice Bergeron Jersey , but why are the teachers who have studied hard to specifically become teachers calling it quits?


Well, one issue is the pay. Some say that if you count the three months off in summer for non-year-round school programs that they make great money for working only 9 months. Yes indeed this is a rational comment and is duly taken into consideration. Some say well, tea. Wholesale Custom Jerseys Wholesale NFL Jerseys Wholesale NBA Jerseys China Wholesale MLB Jerseys From China Wholesale NHL Jerseys Cheap Wholesale Authentic NFL Jerseys Wholesale Authentic NCAA Jerseys Cheap Jerseys China Cheap Jerseys Cheap Authentic Soccer Jerseys