By Antoinette Rodriguez, MBA
While there's a lot to be said for simply having a marketing plan, there's even more value in having tactical, actionable detail.
Wealth manager marketing plans should include measurement, consistency and dedicated staff. Here are 3 key questions that matter:
If you don't measure marketing, you'll have no way of knowing what works. If you don't have consistency, you'll jettison the plan's success. Finally, if you don't have dedicated staff and time, you'll make little progress, or even worse, go backward due to client attrition.
Wealth manager marketing plans should include measurement, consistency and dedicated staff. Here are 3 key questions that matter:
- Have you measured your marketing initiatives thus far?
- How many prospects did you derive from marketing efforts?
- How many warm leads came from your social media campaign?
- What is the average length of time involved in your sales cycle? How long does it normally take from the initial meeting to a prospect becoming a client?
- Is your marketing process consistent?
- Do you have blocked off time for marketing?
- Do you have a networking calendar?
- Do you have a networking process?
- Is someone on your staff dedicated to the marketing effort?
- Does the person have a reasonable way to expand the practice's prospects and circles of influence?
- Does the dedicated person have sales and marketing skills?
- Are you allowing enough time for the person to focus on marketing initiatives?
If you don't measure marketing, you'll have no way of knowing what works. If you don't have consistency, you'll jettison the plan's success. Finally, if you don't have dedicated staff and time, you'll make little progress, or even worse, go backward due to client attrition.
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