Written by: Courtney Browning Marketing is often one of the largest investments for an independent financial advisor. Just like the investments in your clients’ portfolios, marketing efforts need to be considered an investment (not an expense.) This means measuring, evaluating and adapting over time to fit the changing environment. In my most recent blog, I shared tips on creating a successful marketing plan for a financial advisor. Once these efforts are in place, there are 5 R’s to remember to evaluate your marketing.
REVIEW. REVISE. RETEST. REALLOCATE. REPEAT.Review: Each of your marketing initiatives should include mechanisms for tracking each stage of your sales cycle. For example, if you do a direct mail piece for a seminar, you may have a spreadsheet that includes the number of:
- invitations sent
- event RSVPs
- event attendance
- appointments booked, (1st, 2ndand 3rdappointment)
- new clients acquired and total assets gathered.