Month: May 2022

10 Ways Financial Advisors Can Capitalize on Social Media

Posted on by Adrianne Phillips

10 Ways Financial Advisors Can Capitalize on Social Media

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Financial advisors can capitalize on social media in many ways to find new clients and empower their success. According to a recent survey, only 40% of financial advisors utilize social media to promote their business. This is in great contrast to the target audience, where an astonishing 73% of younger or millennial investors use search engines such as Google to seek out financial planners. Read on to learn how to make your business profitable through networking through social media.

10 Ways Financial Advisors Can Capitalize on Social Media

Have A Professional Photo Taken for Your Social Media Profiles

The most important element of your social media profile is your profile picture. That photo is the first impression potential clients will get of you, so make it count. Your photo should show your professional self including the way you would look and dress as if you were going to a meeting with a client.

Use Your Content To Generate Leads

Make yourself an added value connector to appeal to prospective clients. You can attract new clients by adding a helpful interactive tool or a blog with helpful information such as a Frequently Asked Questions (FAQ) section on your website.

Be Sure Your Content Promotes Your Values

Always make sure that any content on your website reflects your business values. Don’t forget that you need to keep those values consistent throughout your website and all social media platforms.

Define Your Brand

When you are leading with your brand on social media, keep the content focused on subjects where you have extensive knowledge. This is especially true for your product or service. Promote yourself as an expert.

This can be difficult for newcomers to do on various social media channels. Your brand, in the simplest terms, is a reflection of who you are. When defining your brand, highlight your skills and your areas of expertise, and how they will help your clients reach their financial goals. Don’t forget to have consistency with your brand on all the social media platforms where you are looking to generate leads.

Utilize Search Engine Optimization (SEO) on Social Media

To find quality connections on social media, you must optimize your networking through Search Engine Optimization (SEO). This is where you use appropriate keywords and phrases in your content so potential clients can find you in searches.

To do this, you must not only have your website optimized for SEO but your social media posts, as well. Many clients look for financial advisors through searches on Google. Although Google does scan many social media platforms such as Facebook and Twitter for search terms, it treats those platforms like typical web pages. To remedy this, you can add your SEO terms to your social media posts. It is better to do this because many platforms such as YouTube now have their own search engine for consumers. This is why it is important to put out consistent and engaging SEO content on all social media platforms, not just your company’s website.

Pay Attention To Your Industry Peers on Social Media

When you pay attention to what your peers are doing on social media, it can help you with your content posting. Watch what your competitors and peers are posting, and pay attention to what is working for them and what is not.

As a bonus, this can also help you be valuable to your network in many ways. You can also use social media for your research and potentially create strategic partnerships.

How to Develop your Business with Networking

After you have set your brand and business values in compliance with your company’s values, you can proceed to build your network. A great place to begin is LinkedIn. You can use LinkedIn to develop relationships with people who you already know. Invite these people through a more personal message to break the ice. Remind this person how you know each other in your message to connect and tell them how you can be a value-added connector for them by offering assistance through the rule of reciprocity. You can also find common ground with these quality connections by mentioning your mutual connections.

Use Your Strongest Social Media Platforms the Most

You should utilize a strong social media platform to promote your business. Many financial advisors choose to generate leads on LinkedIn. However, many are breaking into Facebook, Instagram, Snapchat, and Twitter to create strategic partnerships and prospects.

Engage on Social Media

Once you have established your brand on your social media platforms, be sure to engage on the platforms often. Join in on conversations with industry peers and potential customers. This is how to add value to your network where you are very generous with helpful information.

Remember the 80/20 Rule

A good rule to follow when prospecting on social media is the 80/20 rule. This is where your posted content should be 80% business and 20% personal that represents your brand.

Once you learn the ways you can use social media to capitalize your brand on social media, over time you will see how it increases your business development.

Promotora Systems Inc. can help small business entrepreneurs develop relationships to grow their business. Contact us today so we can take your financial advising business to the next level.

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Why You Should Connect with Your Clients and How To Keep It Professional

Posted on by Adrianne Phillips

Why You Should Connect with Your Clients and How To Keep It Professional

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In business, the best way to find new clients is through a great reputation in your industry through your peers. Alas, creating a relationship strategy is more challenging than it appears. After you identify relevant connections, you must then nurture them while maintaining professionalism. In this article, we will explain why you should connect with your clients and how to build win-win relationships while keeping everything professional.

How Financial Advisors Can Host A Client Appreciation Event

Why Is It Important to Connect With Clients?

As with any business, your clients are what can make or break you. When you establish a long-term relationship with your clients, it can be a remarkable lead generation strategy. When you have several satisfied customers, they will, in turn, help you find new clients with stellar recommendations for your product or service.

Tips For Developing Relationships with Your Clients

  • Check In Often
    Keep in constant contact with your clients. Make sure that your company is fulfilling their specific needs. Offer your support and/or assistance to them if they need it. If they have everything they need, continue to check in regularly.
  • Ask For Feedback
    Solicit feedback from your clients in each stage of your transaction process. Ask if they have suggestions to improve any aspect of your business including processes, procedures, and communication. Then you can incorporate their suggestions into your interactions in the future. This is a great way to develop relationships to grow your business.
  • Keep It a Two-Way Street
    One thing that will turn potential clients away is if you give them the impression that you are the only one to benefit from their business. This is where the rule of reciprocity comes in.
  • Respond In A Timely Manner
    No one wants to wait too long for a return call or answer to a specific question. If you procrastinate on returning the call, your client may decide to reach out to your competition for a solution.

Be Sure To Keep It Professional

While you need to connect with your clients, don’t forget that you are still doing business and you should make sure you do not get too personal. Below are some examples of how you can connect with your clients appropriately.

Don’t Volunteer Your Work Schedule

Your clients do not need to know about your schedule. You are not selling yourself to them if you relay to them your grueling work schedule. It is common knowledge that a small business entrepreneur must put in at least double the time and effort in their own business, as opposed to working for someone else. Plus, the last thing anyone wants to hear is complaints about doing business with you.

Don’t Make It Personal—Ever

When it comes to new clients, it is best to be friendly but not friends. This relationship strategy works best in business.

Keep Other Clients Confidential

Although you wish to build relationships with new clients, you cannot disclose any information about your present clients to do it. If you do this, you may lose this potential client if they fear that you may someday disclose their personal information to someone else.

Dress the Part of A Professional

The best way to empower your success is to dress and act like the professional that you are. Even if you are to meet with a client outside the office setting, your clothing still needs to make the best impression possible. A good rule is to make sure that your attire is not too tight or revealing, and leans more on the conservative side.

Promotora Systems Inc. has many coaching programs that can show small business entrepreneurs how to build profitable relationships with clients. Contact us today so we can help with all your business development needs.

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How To Host A Client Appreciation Event As A Financial Advisor

Posted on by Adrianne Phillips

How To Host A Client Appreciation Event As A Financial Advisor

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Building profitable relationships with your clients is the best networking strategy. A great way to thank your existing clients is to host an event to show your appreciation. In this article, we will tell you how to host this event, plus some popular event themes.

How Financial Advisors Can Host A Client Appreciation Event

Cater to Your Clients

When planning your client appreciation event, take some time to think about your invitees and their culture and demographic. For example, if your clients are basically the same age and have shared interests, you can tailor your appreciation event to them. If many clients are fans of your local sports teams, you can organize an event to attend the game with their family and friends. You may even find new clients from these additional attendees. This is how the power of relationships can work in your favor.

Great Client Appreciation Event Ideas For Financial Advisors

Besides attending a sporting event as a group, here are other popular ideas for your client appreciation event.

  • Cooking Classes
    Cooking classes have always been popular with client appreciation events. They are also fairly easy to arrange. All you need to do is pick a theme or cuisine and find a local chef or restaurant to host and supply the food. This type of interactive and intimate event is great for your best clients.
  • Golf Clinics
    Those clients who love to play golf will definitely appreciate this event. You can also open your event to current members of your golf club to find new clients.
  • Movie Nights
    You can host a great movie night for your clients. Many theaters have group packages available that include the film as well as food and beverages.
  • Private Tours
    Your clients will feel special if you arrange a private tour of a local venue. For instance, you could host your event at a museum so they can get the inside information that they normally would not get on their own trip there.
  • Community Improvement Events
    You can host an event that gets your clients involved in improving their communities. This can be anything from community beautification such as planting trees, or a beach clean-up. You can also hire a local restaurateur or food trucks to cater to everyone who is pitching in.

Make Your Event Inviting

You can build anticipation for your event in several ways. You can promote your event on social media and give your followers little teases on what to expect at your event. If you want to go the traditional route with mailed paper invitations, you can even vary that slightly. You can begin with a simple email notice to “save the date” before you send out your paper invitations. Then you can follow up with personal calls to remind them that your event is coming up.

Take Photos and Videos of the Event

Hire a professional photographer and/or videographer to cover your event. People get excited when they believe they will be on social media, and give your business some publicity in the meantime. This will also encourage them to attend future events, as well as spread the word of mouth about your business to their family and friends.

Promotora Systems Inc. can help you with our many business development services. Our fantastic coaching programs can show you how to build win-win relationships with your clients who can empower your success. Contact us today to start your planning for your next client appreciation event.

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Are You A Financial Advisor? Here is How To Define Your Target Audience

Posted on by Adrianne Phillips

Are You A Financial Advisor? Here is How To Define Your Target Audience

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Just like any other small business entrepreneur, financial advisors need lead generation strategies to identify relevant connections and find new clients. If you are not sure how to define your target audience to increase your business development, we can help. Read on to learn how you can define your target audience.

How to Develop Your Business Through Networking

How To Define Your Target Audience

Your business is all about the power of relationships. When looking for your target audience, think about their similarities with you. Think about your industry and your personal life, and make a profile of yourself. Include your education, skills, marital status, income level, and other facts. Your target audience will consist of individuals with shared experiences and common bonds.

Once you have a specific target market established, you can begin having conversations that reflect your common grounds to develop this relationship strategy. When you get to know them a bit, you can narrow your prospects even more into specific niches.

Find The Niche For Financial Advisors

Another way to find new clients is to put them into specific niches so you can serve them better. Specific niches for financial clients include:

  • Traditional Investors
    This group consists of investors who are older and more traditional. They tend to shy away from technology and have a more traditional and personal approach to wealth management. To reach this group, you must promote yourself as an advisor who will work with them at their level of comfort.
  • Group Affinity
    This is what is known as a “natural market.” In other words, this group can be people in your social circle such as fellow church members, club members, or alumni from your university. These people already know you to an extent from the past or present, and you already share common experiences.
  • Literary Prospects
    You can find clients with shared interests that are novices with financial planning. This is also known as the “education niche” where you can take these new investors under your umbrella and be a mentor to instruct them on all the details of financial planning.
  • Family
    Many new parents would like to have a plan for their children’s financial future. Parents like to establish funds for their children for an education at university, a home and/or a trust fund for their future. New parents need guidance on these matters, and you need to position yourself to guide them in this specific financial planning. Market yourself to these potential clients as someone who has solutions for these needs.
  • Millennials
    This prospective group is in the beginnings of their careers and is tech-savvy. This is where your new prospects are looking for automation and engagement online. If you plan to prospect in this market, you must make sure your technology is on point, and that you know and understand all the appropriate industry terms and innovations.

Take the Marketing to the Next Level

Once you have established your target audience and their specific niches, you can then plan a campaign to market your financial planning business to them.

Promotora Systems Inc. can show financial advisors how to build profitable relationships and empower your success. Contact us today to build your relationships with your target audience.

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Networking for Financial Advisors: 7 Ways To Connect with Your Audience

Posted on by Adrianne Phillips

Networking for Financial Advisors: 7 Ways To Connect with Your Audience

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Networking is the key for any small business entrepreneur to build win-win relationships. For financial advisors, it can be even more challenging to create a relationship strategy because their financial means are at stake. If you are unsure how you can expedite this stakeholder relationship management, we can help. In this article, we will show you the ways you can optimize your networking for the best business development.

How to Develop Your Business Through Networking

Transparency is Key To Build Trust

Any small business entrepreneur must be completely honest with their clients at all times. Let your client know exactly what you have to offer them as a financial advisor, plus full disclosure regarding your specific services and any fees incurred. If any issues occur, tell your client why the issue occurred. For example, if you made a mistake, tell the client about it right away and offer a solution. Your new clients will appreciate your account management even more over time if they feel you are trustworthy.

Lead in with Your Core Values

Your new clients need to feel at ease with their financial advisor. Although your education, credentials, and qualifications will be taken into consideration for the decision, one thing that will influence them the most is shared core values. After all, you will be handling a large undertaking with their finances. Think about your core values and use them in creating your relationship strategy.   Make a list of your core values, and make sure every decision you make reflects those values.

Your clients will want to think of you as someone who they can trust with not only their financial well-being, but the financial well-being of their families. This trust is something that takes time to earn. This is how networking helps with business development. Once you have that strong financial advisor-client relationship established, that trust can last a lifetime.

Lend An Ear

Another great relationship strategy for your clients is to just listen to their concerns. Do not seem dismissive of their questions or concerns. Keep in mind they may be new to financial planning. Plus, they may have come to you because they want to open an account for something or someone special.

When you let your client tell you about their needs and wants, you may discover something about them that you previously were not aware of. This will also help you even more with planning their financial strategy. You can then tailor your financial planning strategy to fit their specific needs. For instance, you would handle a retirement account differently than you would a client who is establishing a college trust fund.

Use Layman’s Terms and Skip Industry Jargon

When reaching out to your audience, you must remember that many of them may not be knowledgeable about many of the industry terms in financial planning. Besides, you need to keep in mind that some financial industry jargon can be intimidating to laypeople.

You do not want this terminology to be confusing to the client. However, there is no need to dumb down the financial terms and concepts. You can just go through each term slowly and thoroughly. Take the time to define the terms. Make sure you offer the client the opportunity to ask questions. You can then determine what exactly the client needs for further clarification.

Be Consistent with Communication

This is how the power of relationships can help grow your business. It builds trust with the client. When you simply check in with your client regularly, it brings a sense of familiarity where the client will feel more comfortable. Plus, it shows them that you care about them and are concerned for them instead of just worrying about your own bottom line.

Never Leave Them Hanging

The last thing any client wants is to wait indefinitely for their financial advisor to respond to their questions or concerns. One way to build profitable relationships is to respond to your clients as soon as you possibly can.

Most of the time, you will be able to respond to your client quickly. It only takes a few seconds to send a quick text, such as “In a meeting, get back to you ASAP.” Therefore, this quick response will let them know that you are important to them.

In today’s world of business, it is paramount for a financial advisor to put themselves ahead of the competition. Once you establish trust with your new clients, it can evolve into a long-lasting, mutually beneficial relationship.

Promotora Systems Inc. has many coaching programs that can show you how to build profitable relationships through networking to empower your success. Contact us today to get started on your journey.

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