Three Critical Mistakes We See Advisors Making All The Time

1. Not knowing who your target audience is, where to find them, or how to engage.
An easy way to get this right is simply model your existing book of business. Look at your A and B clients, jot down their common demographic attributes, and then work with a marketing company like LeadingResponse to identify those households in your market that look like these people. This can be done in both direct mail and social media channels, so don’t limit yourself… which takes us to the next mistake.

2. Not diversifying marketing approach or the marketing channels that you use.
While this might seem like common sense at this point, especially after all of us have been impacted by a global pandemic for more than a year now, I still see a lot of advisors viewing their marketing strategy as “this OR that” instead of “this AND that.” Now what do I mean specifically? I mean, you don’t have to choose between seminar events or webinars, or social media or direct mail. Do as much as you can physically manage… because, after all, marketing programs can [and often do] support each other.
Finally, we’re going to cover the third mistake… and this one’s kind of a BIG deal because most advisors encourage… no, they actually preach this behavior to their clients.

3. The third mistake is not having or sticking to a plan.
Too many advisors that we talk with shoot from the hip, and this is a fatal mistake that can leave you disorganized, inefficient, and ineffective, which usually means that you’ll come up short of your goals… unless you get lucky. But… since the last time I checked… luck isn’t a plan, make sure you sit down and map out your client acquisition strategy in advance.

At this point, you’re probably thinking, “But a plan is rigid, and I need flexibility if things don’t work.” I couldn’t agree more.

A solid strategic plan will not only have key metrics that you target, track, and measure, but it will include several contingencies in case… well, things don’t go as planned. We also suggest visiting and revisiting your vision with your team consistently because you’ll be surprised at how this constant reinforcement will help everyone remain focused and produce the desired results.

Now, finally, you might be wondering… “but how do I get started? This all sounds like a lot of work.”

Well, that’s my gift to you. We have a free event planning calendar that you can download right here, and this incredible resource will help you schedule your seminars, your workshops, and webinars to achieve maximum results.

If you’d like even more support, we’d love to help and be part of your plan. Just let us know by dropping us a quick comment or scheduling time with us.

Now, let’s start planning, and make it a great 2022!