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Advisor Marketing Survey (What Do Advisors Do To Get Clients (That Works)?…
Advisor Marketing Survey
Additional Descriptives
Who do you target?
Do you have a niche?
How do you define your niche?
Technical
Educational/Professional
Experiential
Psychosocial
Affinity
Values
What portion of your clients are in this niche?
Do you have more than 1 niche?
Do you have an "ideal client profile"
Do most of your clients fit it?
Retirees
Pre-retirees
Accumulators
Average clients?
Age
Assets
Marital Status
Income
Net Worth
Do you have a Marketing Plan
How do you decide what to do?
How do you budget what to spend?
How do you decide if it "worked"?
Do you post your entire fee schedule on your website?
How do you differentiate yourself on your website?
Pull from FPA study (see graphic in my Five Industry Trends presentation)
Years of Experience
Fiduciary
Comprehensive
Niche
Investment Process
Passive
Unique investment opportunities
DFA
Tactical
Stock-picking
Parent company
Text analysis of advisor's on-site bio
Copy/paste text from their bio to here, and we run a Word Cloud or similar structure analysis
Logo/Tagline
Firm Name
Advisor's Name
Uses "Wealth Management"
Something wittier?
Do you have a public disciplinary action reported on your BrokerCheck or IAPD?
Ask for CRDs? (Maybe)
Inorganic Growth
Are you looking to buy?
Have you bought?
Did you launch with a purpose (as a succession plan)
Do you WANT to grow/trying to grow?
What's your growth target?
0% (don't lose)
1% to 4%
5% to 9%
10% to 14%
15% to 24%
25%+
Lead Flow & Conversion Rates
How many prospects did you have?
How many were qualified prospects?
How many met for an approach meeting?
How many became clients?
Do you have a prepared Elevator Speech?
What is the Client Acquisition Cost (CAC) for a Financial Advisor?
What Do Advisors "Spend"
Hard Dollars (Ads & Such)
Staff Dollars
Imputed Value of Time
Blog writing/content creation
Going to networking meetings
Prospect meetings
How many meetings do you typically have?
Pre-call?
1-meeting? 2-meetings? 3-meetings?
Meeting with COIs
Client/Prospect Events
Calculating Imputed Value
Last year's advisor comp
Total take-home pay
Impute out implied salary?
Separate out profits (for larger RIAs)
Will have to carve this up carefully by business model/type
What Do Advisors Do To Get Clients (That Works)?
Client Referrals
How do we go deeper here?
Active vs Passive Client Referrals?
Do you have a client referral PROCESS?
Blogging/Content Marketing
Original Content
Third-Party Content
Social Media
Radio
Podcasts
Writing A Book
Paid Advertising
General Networking
COI Relationships
Educational Events
Buying Lists
Seminar marketing
Solicitors
Website
How do you use it?
Business Card/Brochure
Lead magnets & CTAs
Videos
Ongoing blogging content
Do you have a lighthouse or sailboat on your website? :)
Newsletter/Drip Marketing
Physical/print newsletter
Email newsletter
Blog
What Do Advisors Really Spend On Marketing?
Hard Dollars on Advertising
Sponsorships
Print/paper/magazine ads
Radio
Social media/search ads
Other?
Online ads
Staff
Marketing Associate(s)
Director of Marketing
Other Marketing Staff
Graphic Design
Business Development Officer
Outside Consultants
Third-party marketing provider
Marketing Agency
Advisor Marketing Activities
Events
Podcasts
Networking
Buying Lists
Seminars
Paid Referrals (Sources & Rev-Shares)
Third-party solicitors
Custodial referrals
Software & Other Costs?
Website
Design
Maintenance
Logos
When was the last time it was updated?
Email marketing
What do you spend?
What do you use?
Other?
Third-party content
CRM
What do you spend?
What software do you use?
Demographics
Demographics Segmentation Questions
Pull from FP Process survey
NOT Big Five or Motivators
New questions?
Career Satisfaction
Happiness/Well-Being?
Simple risk-tolerance question?
Implementation
4-Stage Launch (in March, close March 30th)
Preliminary Test Audience
To "old" FP Process Study
Launch to readership
Partners
Marketing Firms
FiComm
Kaleido
Associations
FPA
IMCA
CFP Board
NAPFA
Media???
Survey Design (by February 15th)
Different Survey Versions?
Lead Advisor
Repeat Version (no Demographics) vs New Taker
Firm owners
Answering for firm (not just advisor themselves)
CMOs
Run in SurveyGizmo again
Length: 20-30 minutes?
Data Analysis (April 30th)
Data analysis
Initial data review
Data scrubbing
Prepping for graphics?
Delivery of Written Materials (June 30th)
TKR White Paper
Separate write-up for enterprises???
What Advisors Spend On Marketing?
NEV blog posts
Journal articles?
Full White Paper Outline (May 31st)