Displaying items by tag: branding
Based on the results of a Broadridge survey fielded between September 29th to October 10th, advisors with a marketing strategy brought on an average of 41 new clients, compared to 17 new clients for advisors without a strategy. The survey queried 401 advisors overseeing at least $10 million in client assets. The survey also revealed an increase in marketing, as advisors spent an average of $743 in marketing for each new client and added 23 new clients on average over the past 12 months. Those figures are both up from last year when the average advisor spent $719 per client and gained 21 new customers. Kevin Darlington, general manager, and head of Broadridge Advisor Solutions had this to say about the results, “Having a defined marketing strategy, that is the single biggest differentiator [for] how the advisors that are reaching their growth goals [are] doing it. They're much more confident in reaching their goals, they're acquiring clients, and they're just getting much better ROI on their marketing.” The survey underscores the benefits of a well-executed marketing strategy. Gordon Abel, chief marketing officer of Dynasty Financial Partners, told Financial Advisor IQ, that “Advisors also need to remember that a marketing plan requires careful thought and patience.” He added, “Building awareness means familiarizing potential clients with the advisor's brand and name. They need to understand who you are and what you do.”
Finsum:A recent study revealed that advisors who have a well-executed marketing strategy get 2.4 times more new clients than advisors who don’t.