If you are like most advisors, then you understand how challenging planning a marketing schedule can be. It is not easy to know which events to do, when to do them, and how to plan them. Scheduling marketing activities long into the future can seem daunting, especially when you consider how quickly things can change overnight. How does it make sense to plan an event when so many other things are still unknown?
Because of this uncertainty, financial advisor marketing strategies often get caught up in an unnecessary web of complexity, focusing less on the big picture and more on what is right in front of them right now.
Whether or not they believe they lack the time, resources, content, or energy, these advisors don’t communicate as often as they should. Consequently, advisors might be lured into a false sense of comfort, believing a reactive marketing and communication strategy will be enough.
But did you know one of the main reasons clients leave their advisors is because they don’t hear from them enough?
Successful advisors find the time to be proactive with their marketing and communication. They stay regular in their outreach, posting fresh content on a consistent basis.
But, the best advisors understand the pros and cons of both approaches, instead, developing a plan to leverage the strengths of proactive and reactive marketing. Here’s how.
The Pros and Cons of Reactive Marketing
It may seem easier, but a reactive approach can lead to all sorts of problems: an elevated mistrust of the financial industry, depreciated levels of client service, and increased attrition rates.
However, that’s not to say that some reactive habits are not beneficial. After all, responsiveness is vital to success. Being able to react to situations as they happen shows flexibility, timeliness, and agility with communications and events.
The problem with a reactive strategy is when advisors are only reactive. Whether it’s just responding to emails, letters, phone calls, or something else, such advisors are rarely (if ever) the first to act. They neglect to send content out regularly in favor of sitting on the sidelines, waiting to respond to the next topic.
The Pros and Cons of Proactive Marketing
A 12-month marketing plan is an advisor’s blueprint. It breaks the advisor’s goals into bite-sized steps so that he/she can execute each one to perfection. A 12-month marketing calendar is much more proactive in its momentum, much like a freight train. Once it gets moving, it can be a powerful force.
However, if built hastily (or without vision), it can be slower to build up steam and harder to adjust when things get rocky.
This is why a proactive-only marketing approach is not as effective, it abandons adaptability and sticks to one track.
Instead, successful financial advisor marketing strategies should cover a period of 12 months. This schedule should contain larger goals while also being flexible enough to accommodate short bursts of marketing efforts as needed.
How To Create a Plan That Handles Both
Proactive marketing strategies allow advisors to control the message. This can help address clients’ concerns even before they happen and keeps the advisor top of mind for referral opportunities. And who doesn’t want more referrals?
But reactive marketing should also be used when appropriate.
After all, clients want more information; and when they do not get it from their advisors, they seek it elsewhere. Being reactive to this means advisors are ready to pounce at new opportunities, creating content to answer clients when new topics arise.
Here are a few ways advisors can combine both approaches.
Communicate With Your Team
Successful advisors hold regular marketing meetings with their staff to ensure they are still on track with their goals. Whether these meetings are weekly, bi-weekly, or monthly, they watch as times change and make adjustments accordingly – but they always have a plan. They never lose sight of the bigger picture or fail to adjust to change.
Plan First, Then Adjust
For example, when The Secure Act happened, the best advisors were able to adjust their long-term plans and react quickly with timely events and communications for their clients. They did not derail their whole marketing campaign or ignore The Secure Act entirely; they were flexible when they needed to be.
Create a Flexible Schedule
Remember, proactive marketing keeps things on track but is best focused on macro goals. It’s perfectly fine to schedule events and details, but make sure to always leave room for flexibility.
How Does Your Marketing Schedule Hold Up?
Are all of your marketing activities reactive? Perhaps you plan well in advance, but a rigid marketing calendar prevents you from pouncing on opportunities as they come. Here at FMG Suite, we truly focus on an advisor’s strategy.
We have helped thousands of advisors grow their practice, and a well-built marketing schedule is quintessential to that growth. Schedule a demo and we can show you the techniques to build a solid blueprint for your marketing.
