Partnerships can be the cornerstone of a successful business, particularly for service professionals when formed and marketed effectively. In the world of finance, we constantly see partnerships between financial advisors, insurance agents, CPAs, attorneys, HR outsourcing, and more. By building strong partnerships, you can cross-pollinate your marketing efforts, reach more prospects, offer your current clients more services, and help establish yourself as a go-to resource for comprehensive financial care. That’s why partnership marketing has become so popular and cost-effective.
5 Ways to Use Partnership Marketing to Grow Your Financial Advisory Firm
With partnership marketing, the cherry on top is that marketing your business partnerships is inexpensive. Here are just five ways you can incorporate your partnerships into your current marketing efforts:
1. Create a Dedicated Partnerships Website Page
Perhaps the simplest way to start marketing your partnerships is by creating a page on your website. Highlight who you partner with, who they are, and what they offer, as well as why you trust them to provide honest services to clients. Encourage your business partners to do the same so your website is linked to multiple other websites. This not only helps your SEO but also boosts your online presence and legitimacy.
2. Co-Host an Event or Presentation
Ongoing education is the crux of marketing for advisors, insurance agents, and other service professionals. Sure, you tell your clients and prospects that you’re knowledgeable and dedicated. But events allow you to show that that’s true. Whether you’re hosting an educational presentation on retirement or a fun client appreciation dinner, invite a business partner to co-host an event. Both of you can invite your clients and prospects, giving you a chance to introduce yourself to new potential clients.
3. Mention Each Other on Social Media
If your business partners aren’t already on social media, your first step is encouraging them to join. Once or twice a month, share a post that mentions you partner with other professionals and highlight one of them, including why you work with them and what they can offer clients. You can also use this opportunity to market an upcoming event. For example, if tax season is approaching, mention that you frequently work with a knowledgeable CPA that is taking on new clients. Ask your partners to create similar posts. You can even write up the posts yourself or suggest certain items to mention, such as your specialties or a complimentary consultation you offer. Make sure both of you tag or mention each other in your posts on Facebook and Twitter and link to their website.
4. Send a Joint Email Newsletter
If you’re an FMG user or frequently read our blog, we’re sure you’re already sending an email newsletter, as you’re well aware of the benefits. For your next email, create a joint newsletter with one of your partners and mention why you are a business partner and how this benefits clients. You and your partner can each send to your contact lists to reach a larger number of people.
5. Swap Blogs
If you’re a marketing rockstar, you’re a step ahead of many and are blogging your heart out (if not, it’s never too late to start). Hopefully, your business partners are, too. If so, it’s time to guest blog. Guest blogging refers to the SEO and marketing art of writing a blog for another blog. You build links to your website and reach a new audience. Remember, a blog, like other marketing strategies, isn’t about selling your business or services. It’s about showing your knowledge and how you can solve a problem many people face. Speak with your business partners about contributing an article to their blog, and invite them to contribute a post to your blog. Consider doing this every few months to stay in the minds of your business partner’s audience and regularly remind them of your services.
Remember, your business partnership marketing is only as strong as your partner’s efforts. This requires dedication from both sides, but the results are well worth the work. Marketing your business partnerships is one of the best and least expensive ways to reach qualified prospects and continuously build your business and community presence.
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