6 Effective Things You can Do for Your IFA marketing
Finally, you are starting up as an independent financial advisor. It’s natural for you to be excited, but how are you going to make people know about you so as to get business? You might now feel that you’re surrounded by questions like how much to spend on your website, how to design brochures and in what other ways can you do your marketing. Here are a few tips to help you out when you are short of time, staff and resources.
1. Get a Logo and a Website
The first and foremost step in your IFA marketing should be to get a logo and set up your own website. Since these are crucial for your business, never cut corners on them; otherwise you may end up spending more in the future to fix them.
However, it’s a fact that most startup IFAs may not have enough budget for a full branding campaign and a multi-page, custom-built website. But it’s important to invest correctly in these two things as once you have them, you’ll have two important business assets that you won’t need to replace for at least some time. Your logo will be displayed on all your marketing collateral and a great amount of your marketing efforts will point towards your website. If either of them looks hasty or ordinary, you may run the risk of losing clients which is worse than paying more for these two assets.
2. Get Reviews
If might seem challenging as being a startup, you may not have several clients who you can ask for a review. But most IFAs have at least a few clients. Another option is to do smaller jobs for family and friends and get reviews from them. Reviews, testimonials and case studies are helpful to build trust in your brand. Trying to gather reviews from places like Google My Business and Facebook is also a good idea.
3. List Your Email Ids
One of the most powerful tools that can help for the marketing of a financial advisor is his list of emails. Make sure you don’t overlook this. Compile the email ids of your subscribers and contact details of clients, and upload them to a strong email service provider. Next, from there you can send out updates, invitations, tips and offers to your clients and subscribers, once your social media profiles and website are live.
4. Use Social Media
If using social media is something you’re finding difficult, especially using all of them, try to create your business profiles on a few major ones, such as Facebook, Twitter and LinkedIn. YouTube is also a great channel to create a business profile.
5. Run Ads Economically
You want to spread the word, but don’t even wish to break the bank for advertising. Luckily, some great tools offer you to advertise to your potential clients online without having to spend a lot of money. E.g. Facebook Ads can be run for a small amount per day. Google Display Ads can be run for even lower amount.
6. Hire Professionals
You can take advantage of the marketing support for financial advisors offered by marketing professionals rather than doing all the above things on your own. Since they are in the business for years, they know its ins and outs, what should be done, what difficulties may be faced, what the solutions are and how to do the job best. Also once you hand over the job to them, you are free to focus on your own business instead of marketing. Paying for such services may be hard on your pocket as you’ve just started the business, but in the long run, you’ll be happy that you chose to do that.
Follow these tips and succeed in your business. All the best!