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Advisor Marketing Study - 2022 - Coggle Diagram
Advisor Marketing Study - 2022
Client Acquisition Cost (CAC)
Hard Dollar
Paid Ads/Social Ads
Buying Lists
Outsourced Marketing Platforms
Lead-Gen Services
Soft Dollar (i.e., Time)
Imputing the value of time spent on Marketing
Hourly cost based on actual income
Hourly cost based on average income
Hourly cost based on revenue
Content creation (writing/blogging/video/audio)
Meeting w/ COIs & client events
Networking
Social Media
NEW Areas
CAC by client size/revenue
Different strategies by client size
Different strategies by firm size/income/revenue/stage of business
CAC/strategies by growth RATE
How to handle Custodial Referrals/Lead Gen rev-shares?
Different by firm's positioning statement (low-cost provider vs niche vs presonality-based)
What ARE they marketing? A plan, an experience, a relationship?
Niche vs non-niche firms
Charging for initial plans (impact of pricing on marketing & sales)
COVID???
Ask about COVID, or just see the changes from 2019 and conclude accordingly?
What (else) goes into CAC?
Clarify Marketing AND Sales or 'just' Marketing?
Marketing Staff/overhead
Case study highlight of "growthiest" firm in particular categories
The CAC of inorganic growth?
Where are advisors actually SPENDING on Marketing?
Imputed Soft Costs
Hard Dollar Spending
Advertising
Activities/Events
Lists/Top-of-Funnel
Staff
Business Development Teams
Internal
External
IndyFin
Chief Markeitng Officers
Graphic Design
Marketing/Sales Support
Third-party Marketing Agencies on retainer?
Software/tech
Email marketing tools (Hubspot, MailChimp, etc.)
CRM w/ Marketing
Website/marketing funnels
Other Marketing Support
Deft Sales
Snappy Kraken
Marketing Consultants
Solicitors
Custodians
Lead-Gen Platforms
Attorneys & CPAs
Others(?)
Payment Structure
How much?
Dollars or % or bps?
One-time vs wind-down vs ongoing
Incentive comp to team members for business development
%age of revenue
Flat dollar bonuses
You're a partner, you get it in profits/equity
What Are Advisors Doing That Actually WORKS?
What's the Marketing & Sales Process?
All the different marketing channels (pull from prior and update as appropriate?)
Measures of marketing success
Quantity of leads
Growth rate
Average client size
CAC
Marketing efficacy (CAC / average client revenue)
Advisor Satisfaction
Quality of lead/Close rate
Popularity of Strategy
Volume of clients/revenue by strategy?
How do you execute the strategy?
Average, Best Growers, Worst Growers
Which strategies scale especially well
What are the 'failsafe' strategies
Client referrals
Active vs Passive Strategies
Impact of niches
Changes over time (2019 to 2021)
Demographics & Descriptives
Growth Goals
What is the goal?
Are you happy with your results relative to the goal?
Inorganic Growth?
Are you trying to (also) grow inorganically?
Because you're not good at organic marketing?
What is the CAC of inorganic growth?
Balance of organic vs inorganic growth goals?
Marketing Plan?
Do you have a niche?
Type of Niche?
Other ways that you differentiate?
Fiduciary
Fees
Financial planning
Investment strategy
Client Demographics
Assets
Income
Net Worth
Size of firm (clients/revenue/etc.)
Centralized vs decentralized marketing?
Individual vs Team vs Firm Level Marketing?
What percentage of your revenue do you estimate goes towards marketing & sales (estimate upfront)
Data Collection
Individual vs Team vs Firm level?
Individual who runs the firm
A team if it has enough autonomy to make its own marketing decisions
Firm-level (owner or Marketing Director/CMO)
Who takes the survey?
CMO/Director of Marketing
Firm Owner
Lead Advisor(?)
Find out who they are and categorize accordingly?
Qualifying question to make sure they're the right one?