DIY Marketing That Works

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I’m a work in progress when it comes to marketing. Over the years, I’ve discussed the results of various marketing strategies with my clients and tried out some of my own.

The good news is there are many initiatives you can implement on your own that that will likely work.

Here are some suggestions.

My definition of “marketing”

Here’s how I define marketing: An initiative that generates qualified leads, resulting in the possibility of converting prospects into clients.

That’s what my clients want.

DIY marketing works

Here’s a surprising observation from a marketing consultant (me): DIY marketing can be very effective.

Here are some suggestions.

Raise your social media presence

“Social media” includes your website and your presence on sites like LinkedIn. While you should outsource your website to a professional design team and a content writer who understands your target market, nothing prevents you from posting regularly on social media.

Avoid self-promotion. Make your posts informative and helpful. Don’t shy away from being provocative where appropriate. My LinkedIn posts commenting on Jim Cramer generate far more interest than reposting my blogs.

Comment on other posts or just “like” them.

Social media posts that aren’t about you are the most effective.

Write content

If you have the time and ability, write original, insightful content. Your goal should be at least two articles a month. Each article should be around 750 words or longer.

High-quality content doesn’t just enhance your credibility. It’s critical for SEO. In fact, if you can’t afford a professionally run SEO campaign, you can become a DIY SEO person by just engaging in this activity. Try it. You’ll see your ranking for keywords improve. After six to 12 months of consistent content writing, you’ll start to generate inquiries.

If you can’t do this yourself, outsource it. It should be part of your marketing budget. Nothing is more impactful.

Don’t fall into the shared content trap (licensing content developed by a third party that will also be used by other advisors). There are no shortcuts. While Google doesn’t penalize shared content, it has other adverse effects that can harm your SEO strategies.

Ask yourself these questions

I start every marketing engagement by asking clients these questions, which I honed over time. You can use them in your DIY marketing.

What’s the average revenue a client generates for your firm?

How long do clients typically stay with your firm?

Run the numbers, discount to a present value, and tell me the value of generating one new client.

That number is typically in the $50,000-$100,000 range.

What is the demographic of the ideal client?

What would you do if you were hired to generate one client in that demographic?

What’s the quickest, easiest way for you to do that?

What marketing collateral, if any, would you need to find that client?

More AUM. Better Relationships.

Guaranteed

My micro-learning course will increase your AUM and deepen your relationships.

If not, I’ll give you a 100% refund of the $29.95 cost.

Volume discounts are available.

More Information

Clients have an excellent idea of the steps they should take. I’ve heard these suggestions, among others:

Update our website.
Add video to our website.
Write content helpful to that demographic.
Join social media groups where that demographic is represented.
Ask for referrals from existing clients in the same demographic.
Identify conferences attended by members of that demographic.
Offer to speak at these conferences.
Look for sponsorship opportunities at these conferences.
Attend selected conferences and network with other attendees.
Start a podcast.
Start a YouTube channel.

Most of these suggestions can be implemented without professional assistance.

Feedback

Many advisors are surprised at how valuable the average client is to their firm. Quantifying in this manner helps them increase their marketing budget.

Setting a goal of generating just one new client makes the marketing process far less intimidating and more manageable.

Advisors often don’t think about fundamental, inexpensive steps they can take. By analyzing the value of a new client in the context of the cost of DIY marketing, they feel empowered to start the process.

Dan trains executives and employees in the lessons based on the research in his latest book, Ask: How to Relate to Anyone. His online course, Ask: Increase Your Sales. Deepen Your Relationships is currently available.