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Instead of constantly developing a new marketing plan each year (or quarter, as I recommend), it's best to work the plan. In those periods, establish a marketing routine rather than creating an entirely new plan.
Throughout the nearly 18 years of my career, I've created marketing plans ranging from 30-page documents to one-page summaries, from slide decks to spreadsheets. My quest has been to find the perfect framework for a marketing plan that advisors will follow.
I’ve discovered that the framework for your marketing plan will change from year to year. It depends on the marketing mode your business is in. For example, there will be development years, when you tackle major initiatives such as a new name and brand, a new website, or implementing an intentional marketing strategy for the first time. Then there are maintenance years, when you work the strategy you developed in previous years.
For instance, in 2023, my business is in development mode. Therefore, I'm using a more extensive marketing plan structure, as I outlined in “The 12-Week Advisor Marketing Plan.” I'm launching a new book this summer, complete with a new program and brand. Everything needs to be on a set timeline for a synchronized launch, making a detailed plan crucial.
But in most years, when I'm in maintenance mode, I don't use the 12-week marketing plan for my business. Instead, I establish marketing routines ingrained into workflows within my project management system (advisors would probably use their CRM). For instance, I send out a weekly marketing tips newsletter, write a blog and guest article every other week (or at least I try), and reach out to a specific number of COIs each quarter. I also run Google retargeting ads 24/7. Some of my routines are annual, such as attending the same conferences each year.
The key to successful marketing isn't constant innovation and development. Consistency and repetition of what you develop and works will produce results. It takes time and persistence to build relationships, establish trust, and increase brand awareness and engagement. This holds true for both in-person and digital marketing, as well as advertising, such as paid radio spots or online ads.
Here are some examples of marketing routines:
Daily:
- Engage for 15 minutes in groups or with connections on social media.
- Run Google ads (continuously).
Weekly:
- Schedule 10 social media posts for the week.
- Write a blog.
- Post a blog.
Monthly:
- Review marketing analytics.
- Send birthday and anniversary cards.
- Send email newsletter highlighting original content.
Quarterly:
- Send quarterly market-wrap newsletter.
- Host quarterly market-wrap webinar.
Annually:
Establishing routines helps you integrate marketing into your workflows seamlessly. There is no question about what needs to be done – it just gets done. There is no need to wonder what you are going to do this quarter or year for marketing, because if you don’t do anything but your routines, you are ahead of most advisors.
Final thoughts
Navigating the marketing cycle involves understanding when to focus on development or maintenance. The framework for your marketing plan may change from year to year, depending on your business's marketing mode. Development years involve tackling major initiatives, while maintenance years focus on working the existing marketing strategy. Consistency and repetition are key to marketing success, rather than constant innovation. Establishing daily, weekly, monthly, quarterly, and annual marketing routines helps seamlessly integrate marketing into your workflows. Use the right planning tools, like the 12-week marketing plan, during development mode and to create marketing routines during maintenance mode.
Key takeaways
- Your business will fluctuate between development mode, when you push forward big initiatives, and maintenance mode, when you work the plan and harvest the fruit of your efforts.
- During development mode, the 12-week marketing plan is the best planning tool to use.
- During maintenance mode, create marketing routines and build them into your CRM workflows.
Written by a human. Edited by artificial intelligence (ChatGPT-4) and humans.
Kristen Luke is the president of Kaleido Creative Studio, a marketing consulting firm that helps Registered Investment Advisors and their employees position themselves as experts in a niche, making them “uncomparable” to other advisors.
Her book, Uncomparable: The Financial Advisor’s Guide to Standing Out through Niche Marketing, is expected to be published on July 25, 2023. Financial advisors associated with an RIA can request a free copy here.
Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
