Advisor Marketing Survey (What Do Advisors Do To Get Clients (That Works)?…
Advisor Marketing Survey
Who do you target?
Do you have a niche?
How do you define your niche?
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?
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
Unique investment opportunities
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
Uses "Wealth Management"
Do you have a public disciplinary action reported on your BrokerCheck or IAPD?
Ask for CRDs? (Maybe)
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%
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)
Imputed Value of Time
Blog writing/content creation
Going to networking meetings
How many meetings do you typically have?
1-meeting? 2-meetings? 3-meetings?
Meeting with COIs
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)?
How do we go deeper here?
Active vs Passive Client Referrals?
Do you have a client referral PROCESS?
Writing A Book
How do you use it?
Lead magnets & CTAs
Ongoing blogging content
Do you have a lighthouse or sailboat on your website? :)
What Do Advisors Really Spend On Marketing?
Hard Dollars on Advertising
Social media/search ads
Director of Marketing
Other Marketing Staff
Business Development Officer
Third-party marketing provider
Advisor Marketing Activities
Paid Referrals (Sources & Rev-Shares)
Software & Other Costs?
When was the last time it was updated?
What do you spend?
What do you use?
What do you spend?
What software do you use?
Demographics Segmentation Questions
Pull from FP Process survey
NOT Big Five or Motivators
Simple risk-tolerance question?
4-Stage Launch (in March, close March 30th)
Preliminary Test Audience
To "old" FP Process Study
Launch to readership
Survey Design (by February 15th)
Different Survey Versions?
Repeat Version (no Demographics) vs New Taker
Answering for firm (not just advisor themselves)
Run in SurveyGizmo again
Length: 20-30 minutes?
Data Analysis (April 30th)
Initial data review
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
Full White Paper Outline (May 31st)