A Marketing Guide for RIAs Part 10 - Develop a Written Marketing Plan

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This is the final part 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.

Marketing campaigns and strategies only work if they are consistently implemented. One way to increase the chances of success is to write a marketing plan and follow it diligently. A traditional marketing plan consists of many “nice to haves” such as a competitive analysis and an analysis of your own strengths and weaknesses. Most firms don’t have the staff or time to conduct this research. As a practical matter, your marketing plan only needs to include information that will drive revenue. A plan can be as simple as just three things:

1. Strategies, Objectives & Tactics
2. Marketing Calendar
3. Budget

Step 1: Develop Strategies, Objectives & Tactics

In parts three through nine of this series, you developed marketing strategies which included marketing collateral, online marketing, networking, email marketing, client referrals and center-of-influence referrals. Now it is time to document those strategies in a spreadsheet and include your objectives and the tactics behind each strategy. Be sure to create a well-rounded marketing plan that includes a variety of strategies, so you aren’t relying on one channel to produce all of your new leads. 

Example:

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