23 January 2018
By Rachel Staggs, SRS Coaching & Consulting
You’ve probably heard of FOMO – fear of missing out but have you heard of JOMO – the joy of missing out? Reflecting on 2017 there have been numerous introductions to the social and digital space that it can start to become confusing, distracting and for some scary. I know Advisers that suffer from FOMO to the extent that they end up not actually implementing anything because their fear is so great. Is that you? JOMO’s may be joyful but is it to the detriment of their business?
Where should you focus your marketing efforts in 2018?
1. Work out where your ideal client ‘hangs out’/who they trust and make sure you develop a presence there too. Make sure you get noticed. If your perfect client can’t see you, how will they know you exist?
2. Make sure you engage with all your clients, the A’s, B’s, Z’s whatever you call them. In today’s’ world there is no excuse. Even a simple monthly e-newsletter can be sent to all your clients. The ‘top’ clients will appreciate it, and for the ‘bottom’ clients it will remind them that you are there and available to help them.
3. Your social footprint is essential. At a basic level make sure your online reputation, both company and individual, correctly reflects your brand and reputation. Great podcast interview with Jac Phillips talks further about this.
4. Be knighted. OK, maybe a little ambitious but awards whether industry related or not, carry a great deal of merit. They also give you another reason to communicate with your client base – always nice to partner with an award-winning/recognised business. I haven’t interviewed a client [of a financial adviser] yet who thought winning awards was terrible!
5. Fire your poor performing COI’s and recruit some effective ones. Far too many advisers spend far too much time and energy on COI’s who don’t refer – if they don’t refer, they are not a COI! Great podcast interview with Penny Elmslie talks further about this.
6. Become more social. People take advice from you primarily because they like you. People want to do business with people they like so, show them your personal side a bit more. I’m not suggesting you parade all your personal stories, events and holidays in front of your clients, instead use social media to inform them about the staff, introduce them to each other, and get social! Great podcast interview from Brittney Castro talks further about this.
7. Don’t be taken for a ride. This might not be you at all, but we all know businesses that have paid far too much and not got the return they were seeking. For example, Facebook advertising. Don’t think that boosting a post on Facebook is going to open the floodgates with ideal clients. Yes, Facebook advertising works, BUT it needs a plan, a lead magnet and much more.
8. Turn back time. Client seminars, client functions, COI lunches – they all still work. People still enjoy being treated to a nice meal, night out, educational sessions – don’t ignore the face to face functions!
For the FOMO’s out there, yes, there are more marketing ideas that you can get involved in so, if you believe you are implementing all of the above then feel free to contact me and I’ll reveal the other ideas. rachel@srscc.com.au
For the JOMO’s out there, all of the above work, they are proven and practical, so please see how you can fit them into your business in 2018.
BGH Specialist Partner, SRS Coaching & Consulting specialises in providing strategic marketing services to financial advisers. For more information on SRS visit srscc.com.au
