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If you’re like many financial advisors, you might postpone your summer financial seminars. There is a persistent rumor that the attendance and response rates aren’t as good as the rest of the year. And this can keep financial advisors from planning and executing financial seminars and educational workshops. However, we believe that the summer slump idea is a myth. And continuing your financial marketing plans over the summer can only help increase your business’s productivity and growth. Let’s lay out the financial seminar summer slump myths, and why we believe they are wrong. Here we go!
Myth Number One: The Summer Event Slump
The famous summer slump. The three months of the year when everyone is more relaxed, kids are out of school, and businesses tend to take a hit. You don’t have to search far to see articles and blogs recommending companies focus on other things during the summer months.
However, our experience shows delaying financial seminars and educational workshops is unnecessary – and may even result in a loss of income for your business. In almost 39 years of financial advisor marketing, our team has found no differences in event attendance during the summer months. Now is not the time to put a hold on your marketing efforts.
People are still making financial decisions during the summer. Their needs don’t suddenly change. In fact, it might be the time when people catch up on their finances and make plans for the future. It could be the ideal time to reach out to those warm prospects you’ve met before and reconnect with them for another discussion about how you can help them.
Myth Number Two: People are Disengaged and on Vacation
Summer is indeed the time when most families travel. But that doesn’t mean your potential consumers are necessarily disengaged. The current statistics show that 12% of employees are fully remote, close to 60% are fully in person, and 28% of workers are hybrid. That’s easily 40% of people that could be working on vacation. And let’s be realistic – many of your prospects that work full time in an office will still check their emails, texts, and take phone calls on vacation. With this increase in working from home and phone, most employees are never truly “off.” But when people are traveling, it’s more imperative than ever to use various marketing solutions to target them.
Multichannel marketing can help you reach more of your target audience – wherever they are. And while a vacationing family might be unable to attend an in-person event, they could be available for a webinar.
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Side note: You’re missing out on potential income if you aren’t offering both. In fact, ongoing webinars should be part of your marketing plan year-round to reach your firm’s full potential.
Need more proof? According to ClickZ, multichannel campaigns experience a 250% higher purchase frequency than their single-channel competition. Plus, consumer retention rates are 90% higher when multichannel campaigns are used.
Myth Number Three: Summer Seminars Didn’t Work Before, So They Won’t Now.
Have you had difficulty in the past with summer financial seminars? Or have you heard from your competition that they weren’t as successful as they’d hoped? Times have changed, and consumers are looking for different things. Don’t compare the past with today.
Consider this – maybe your competition is avoiding summer financial seminars. That means the timing is perfect for you to connect with them. Many businesses slow down their financial advisor marketing efforts in the summer. This could be a great time for you to stand out from the crowd and reach more potential clients.
Plus, it’s a great time to experiment with new marketing strategies as a financial advisor. With other businesses removed from the competition, you could try a different kind of direct mail marketing to get your prospect’s attention. Or set up new digital marketing to connect with more prospects. The timing is great to make huge steps toward a successful end of the year!
The Bottom Line: Now is the Time to Take Advantage of Summer Financial Seminars
Your competition might be taking a summer vacation, so now is the best time for you to take advantage of and schedule hybrid campaigns for the summer. And don’t forget that webinars can bolster summer financial seminars to reach more people in more places.
Don’t let a profitable summer pass you by. Connect with our expert marketing team to design a custom marketing strategy for your financial firm. With close to 30 years of experience in financial advisor marketing, our team has the expertise necessary to get you in front of more qualified prospects than anyone else. Contact us today for a free consultation.
