Practice Guide :

Top 5 Marketing Ideas Advisors are Using to Grow their Business

< Back

Going beyond word-of-mouth

Client marketing and acquisition is at the core of almost every advisor’s business development and growth strategy. Here are 5 strategies that top advisors use to grow their businesses, that you can implement today.

1. Get involved in the community:

Becoming a positive asset to the community can be a great way to foster relationships with both present and future clients. This personal involvement allows clients to build a deeper connection with you, and connect a face to your brand. Consider volunteering at community events, sponsoring community organizations, or offering your expertise for community projects.  This is also a great way to invite clients to join you in giving back to the local community, and deepen your relationship with them and their entire family.

2. Regular Content Creation: Blogs, Articles & Podcasts

A well written blog or article can help you establish yourself as an expert. This is helpful for both client retention and acquisition. Posting original content on your social media, business website, or for a local magazine, allows you to develop a wide outreach and to share your unique point of view. Your content can reach a vast number of potential clients, and can showcase who you are, and frame you as an expert in your field.

If you don’t love to write, create a podcast instead, and then use the transcripts to help frame your articles. Also, don’t be afraid to ask clients on the topics they are interested in learning more about to help build your content calendar.

Bonus tip: Be sure to showcase your content in a monthly newsletter, and encourage your list to share this content with their friends and colleagues to grow your network.

3. Direct Mail:

For most firms, emails have become the sole means of communication for clients, which makes it challenging to cut through the noise of an inbox. Try differentiating yourself by getting back to direct mail. Sending handwritten cards for a client’s milestone, their anniversary of becoming a client, or for a special event can be an easy way to delight your client.

Also consider sending a gift that is targeted to your clients’ favorite hobbies, or interests. Don’t forget when a client is happy, they’re more likely to spread the word about the thoughtful service they received from your firm to their friends and colleagues.

4. Listen to and react to feedback:

Receiving and reacting to feedback is one of the best tools you have for client retention and acquisition. Give your clients an opportunity for open communication and evaluation. Surveys produce a great medium for client feedback, and are not expensive or time consuming to produce.

After receiving the results of your survey, make it a point to create changes and address any of the concerns your clients have. The key here is to make sure your clients feel heard, and to take their feedback to provide better service for your current and potential clients. Some great questions to include in a client survey are:

  • How likely is it that you would recommend our firm to a friend or colleague? (0-10 scale)
  • How responsive have we been to your questions or concerns?
  1. Extremely responsive
  2. Very responsive
  3. Somewhat responsive
  4. Not so responsive
  5. Not at all responsive
  • What services do you wish we offered? (open text field)
  • Do you have any other comments, questions, or concerns? (open text field)

5. Partner with the right professionals.

Oftentimes clients are looking for an advisor, because they are going through a life transition and have questions and concerns. By partnering with other professionals that they would use during that transition, your chances of getting the right kind of referral goes up. Some examples of professionals that handle transitions are:

  • Divorce attorneys or mediators
  • Life coaches
  • Career counselors
  • Realtors
  • Therapists

The most successful advisors tend to focus on referral sources that service the type of clients they want to be introduced to, can clearly articulate the advisor’s value proposition, and who are actively involved in growing their own businesses.

Past performance is no guarantee of future returns. Nothing presented herein is or is intended to constitute investment advice or recommendations to buy or sell any types of securities and no investment decision should be made based solely on information provided herein. There is a risk of loss from an investment in securities, including the risk of loss of principal. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will be profitable or suitable for an s investor’s financial situation or risk tolerance. Diversification and asset allocation do not ensure a profit or protect against a loss. All performance results should be considered in light of the market and economic conditions that prevailed at the time those results were generated. Before investing, consider investment objectives, risks, fees and expenses.
Exclusive reliance on the information herein is not advised. This information is not intended as a recommendation to invest in any particular asset class or strategy or as a promise of future performance. References to future returns are not promises or even estimates of actual returns a client portfolio may achieve. Assumptions, opinions and estimates are provided for illustrative purposes only. They should not be relied upon as recommendations to buy or sell any securities, commodities, treasuries or financial instruments of any kind. This material has been prepared for information purposes only and is not intended to provide, and should not be relied on for, accounting, legal, investment or tax advice. Please consult an accounting professional for tax advice.
Information provided herein reflects Frontier’s views as of the date of this material and can change at any time without notice. Frontier obtained some of the information provided herein from third party sources believed to be reliable, but it is not guaranteed, and Frontier does not warrant or guarantee the accuracy or completeness of such information. The use of such sources does not constitute an endorsement. Frontier’s use of external articles should in no way be considered a validation. The views and opinions of these authors are theirs alone. Reader accesses the links or websites at their own risk. Frontier is not responsible for any adverse outcomes from references provided and cannot guarantee their safety. Frontier does not have a position on the contents of these articles. Frontier does not have an affiliation with any author, company or security noted within. Frontier reserves the right to remove these links at any time without notice.
Frontier Asset Management is a registered investment adviser with the U.S. Securities and Exchange Commission; however, such registration does not imply a certain level of skill or training and no inference to the contrary should be made.  Additional information about Frontier and its investment adviser representatives is available on the SEC’s website at www.adviserinfo.sec.gov.
Frontier’s ADV Brochure and Form CRS are available at no charge by request at info@frontierasset.com or 307.673.5675 and is available on our website www.frontierasset.com. Our ADV Brochure and Form CRS contain important disclosure information and should be read carefully.

Additional Practice Guides