Building a powerful brand is necessary for financial advisors who want to differentiate themselves and boost their chance of attracting and retaining clients. Think of branding as the feeling that people get when they think of or see your name.
Creating an effective online presence is an important element of branding. According to Maritza Lizama, the cofounder and chief marketing officer at Captiva Branding, “93% of buying decisions are influenced by what people see online. How can you improve your online presence? Start with your LinkedIn profile. Get rid of your old profile photo. Your photo needs to look like you. And it’s OK to show a little personality.”
It’s also necessary to figure out your ‘brand purpose’. This encapsulates your reasons for becoming a financial advisor that go beyond just monetary reasons. In addition to this, advisors need to develop a solid understanding of their target audience in terms of their demographics, career, pain points, motivations, constraints, and where they can be reached.
Then, you can further refine your brand by creating complementary online content that showcases your personality. This can also mean talking about topics that are outside of the realm of finance in order to build a more authentic connection with your audience.
Finsum: Building an effective brand is important for every financial advisor and can be invaluable in recruiting and retaining clients. Here are some tips to get started.