Thought Leaders II
Marketing for Financial Advisors: Build Your Business, Bring in Clients, and Establish Your Brand
To financial advisors who ask, "Who has the time and money for marketing?" Wharton marketing professors Eric Bradlow, Keith Niedermeier, and Patti Williams have an important piece of advice: Treat your practice like a small business, or you will be put out of business.
In tough economic times, investors are very concerned about their wealth, and client decision making is affected. The way in which financial advisors think about their business and their clients has to change. In their new book, Marketing for Financial Advisors, the authors teach the basics of marketing and marketing strategy from the perspective of a financial advisor, and more broadly to anyone in the services industry (e.g., insurance, health care, etc.).
In particular, excellent marketing skills are more important than ever in today’s demanding financial economy. In Marketing for Financial Advisors, Bradlow and his colleagues combine proven marketing approaches with practical insights from a recent survey the authors conducted of 800 financial advisors from top firms around the world. They teach:
- How to improve your financial services practice using the 5Cs and 4Ps framework.
- How to develop a deep understanding of client psychology and the permission marketing ladder of success.
- Ways to assess the client lifetime value of your customers to better understand which are the most profitable, both directly and as viral ambassadors for your practice.
- How to develop your brand.
- Must-have tactics such as developing a board of advisors and your “three words.”
- Techniques such as marketing segmentation, optimal targeting, and more.
All of these topics are foundational issues that every financial advisor must know.
Your feedback is valuable to us. Please let us know if you consider this: