Marketing

Calculating the worth of your practice requires placing a value on different types of capital.

Professional marketers and smart advisors always tackle the “The 3 M’s” of marketing before they do any serious outreach. The 3 M’s are the foundational elements of all good marketing. However, according to marketing expert Marie Swift, it’s a very common error for many entrepreneurs and small business people to start with the wrong “M.” The problem with that is, it rarely, if ever works.

Using a LifeBio Event can help financial advisors strengthen client bonds and connect with their heirs. Here is how one advisor created a “Norman Rockwell” experience for his very best clients and their special guests. It’s a smart way to build bridges and engage the next generation while positioning yourself as the advisor of choice. You can do it too.

With an increasing number of countries now banning commissions for planners, many practitioners impacted by the changes are finding fee-only services actually benefit their businesses -- if they structure fees to match their strengths, according to panelists at FPA's annual conference in San Diego.

First-time attendees of the FPA Experience 2011 annual conference were eager to learn about new events this year centered around the concept of "communities" -- groups of planners of similar ages or specialties. The communities are meant to help attendees glean the most appropriate information for their practices and to better network with their peers.

If your logo is more than a dozen years old, chances are it's time for a makeover. Tired, dated materials won't reassure prospective clients that you're progressive and will constantly update the knowledge and services you offer. Your branding essentials may not need a complete overhaul, just a simple facelift.

As a financial advisor, you are always looking for ways to add value and bond with your clients. One of the most unique and innovative ways I've found for doing just that also drive referrals years into the future and provide a wealth of insight about their individual goals and values is a legacy profile.

Many financial advisors are able to successfully pitch their own story ideas, place their own bylined content with reputable media outlets and navigate the PR waters on their own without the help of a professional PR firm or marketing consultant. But if you want to generate more interviews and media success, you’ll want to steer clear of these harmful (and potentially fatal) rookie blunders.

You’ve worked long and hard and now you’ve finally been quoted in the Wall Street Journal or had a bylined article published in the local newspaper. Perhaps you’ve just done a radio or television interview. Now what?

Since I’m such a big proponent of using free publicity versus paid advertising as a business growth strategy, advisors often ask me if it ever makes sense to advertise. In a word, yes.

Maribeth Kuzmeski, president of Red Zone Marketing, suggests financial advisors should embrace social media to promote themselves and find creative, meaningful ways to differentiate yourself from competitors.

The problem for many sole practitioners and small planning firms is that working with a PR firm in any way, shape or form is generally too expensive to even consider. This week, we'll talk about a more affordable option: Group Training and Empowerment Programs -- which can be a very attractive option if you can find the right group.

Most public relations firms cite studies that claim the services they provide are at least three times more credible than advertising. But for financial advisors, the question often is how do you measure the return on your PR investment?

Giving feedback, recognition and rewards to staff is a worthy management technique that can help grow your business.

Practice management tips to gain visibility and get you recognized as an expert.

Ever wonder how much it might cost to properly promote a book or one big initiative? Given the importance of either scenario, you may decide it makes sense to work with a PR firm. You have a lot at stake and should make the most of things.

Since financial advice is a trust-based business, PR should play an important part of every advisor’s marketing plan. Having a good number of media mentions that show your professional character and business philosophy can really make a difference in how people perceive you and your potential value to them.

Financial advisors who position themselves well by be being frequently seen in the public eye -- either in print, on TV, on the radio or writing online columns likes this one -- can build the perception that they're professionals who can be trusted.

A tight focus on doctors as clients keeps Ara Oghoorian, founder and president of ACap Asset Management, Inc., on top of the specialized needs of his clientele. ACap is a financial advisory firm located in Beverly Hills, Calif.

Everyone knows that publicity is wonderful when you can get it. But far too many advisors think there is some sort of magic needed to get their name in print or to be interviewed on television or radio.