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This is part five of a ten part series on marketing an RIA. Read A Marketing Guide for RIAs for a full overview. To view the installments in this series, select “RIA Marketing Guide” in the left margin.
Many advisors I speak with express interest in presenting to local associations or writing a financial column for a local newspaper. Public speaking and newspaper columns can be effective ways to prospect for clients. That being said, there are dozens if not hundreds, of other advisors in the same geographic region trying to achieve this same goal.
In order to garner the attention of the media and local associations, you need one of three things: money, an inside connection or a unique offering (i.e., expertise). A unique offering is the most valuable asset since it allows you to create a demand for your expertise that can be translated across a variety of events and media sources.
Creating an expertise within your field is fairly simple and something you have probably already achieved. You have to educate yourself about the issues affecting your niche market and understand the solutions to solving those problems.
Creating awareness of your expertise can be more challenging. In the past, you would have to write a book, host dozens of seminars, hire a PR agency, or host a radio show to gain exposure for your expertise. Luckily, technology has made this process simpler and less expensive.
Below are the four steps you need to begin being recognized as an expert in your field:
Step 1: Define your expertise
To become an expert, start by clearly identifying your expertise. The expertise should be directly related to the niche market you identified in the Pick a Niche exercise. Fill in your expertise in the box below.
Example: Financial Planning Issues for Blended Families
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Step 2: Choose topics
To create awareness of your expertise, you will need to create content on a regular basis. This will require you to identify a variety of topics surrounding your expertise that avoid repetition but continually reinforce your expertise.
Use the box below to identify five to ten potential topics. Feel free to be flexible in the topics you choose and include subjects that might be outside of your services but still generally relate to money. Review the Current Situation, Unique Issues/Needs and Solutions you identified for your niche market in the Craft Your Message exercise to help brainstorm ideas.
Example: Blended families
- Estate planning pitfalls for blended families
- College planning tips for your children and step-children
- How to teach your children about money when your ex is a spendthrift
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