As stay-at-home orders continue and conditions remain uncertain, you should be thinking about reevaluating your marketing strategy. After all, the information your clients are searching for is probably different from just a few weeks ago. Think about what you’re focused on now. Is it the same as it was before the pandemic hit?
I’ve been reading a lot of industry articles and talking with a lot of advisors. One of the first things advisors tell me is that they are thinking about discontinuing marketing to avoid laying off support staff. If that’s your thinking, I commend you. But as an alternative to cutting marketing altogether, maybe the answer is to determine if you’re spending too much. If the marketing budget is the first thing to go, it may be too large to begin with. So, how much can you cut? Let’s start with what we’re trying to accomplish.
High Performing Practice has three main goals:
Today, more than 51% of American retirees retired before the age of 65. Early retirement is usually caused by job layoffs or a health crisis that forces them into retirement. Today we are facing a looming recession and more jobs lost than ever before and soaring unemployment claims. It’s likely that many clients between the ages of 55 and 62 will opt-in to premature retirement and sustain themselves for a longer period of time with fewer assets. Certainly, a bad market situation gives us an opportunity to help and to capture more business. Of course, we need to market ourselves if we are going to make a difference.
Let’s keep it simple and effective. There are three main items you should focus your marketing on over the next couple of weeks:
1. Consider developing transitional call-to-actions. Post downloadable one-page fliers on your website on topics that are relevant right now. Ideas include:
All pieces should be basic and easy-to-read and understand. These are topics audiences are searching for now and will hit search engine optimization. Capture email addresses from downloads and use them for proactive marketing
2. Focus on emotion. As you also rearrange your digital assets and determine how you want to communicate, make sure that you speak to the three levels of emotion: the external, the internal and the philosophical.
You can’t listen to the news without hearing about market losses of 20% or more, a fact that creates fear and anxiety. Instead of focusing on the market, help fill a prospective client’s larger concern — finding an advisor that aligns with their philosophical beliefs. We believe that everyone should have a secure retirement and free of worrying, not to run out of money. Convey that message to your clients. You can’t help if they don’t trust you.
3. Create a clear and defined path. Many clients have been exhausted by a relationship with the previous financial planner, or they have exhausted themselves trying to plan their financial futures alone. Most clients are looking for a solution that requires the least amount of time, effort and energy. But they still need your advice. Cut through their fears with a clear and simple strategy.
Although we are experiencing challenges we didn’t anticipate, clients are ready to focus. They need your help now more than ever. And with a clear message, you can provide a valuable service, for a smaller budget, even in the midst of a pandemic.
© 2018 Ash Brokerage LLC.