Independent financial advisors need to market their business to stay competitive and find new customers. It is not always possible to wait for others to find your business on their own initiative. Marketing is a necessary part of any business if it is to grow and be successful. Here are five tips for marketing your IFA business.
1. Gain Referrals
Referrals can be useful when marketing your IFA services. A referral network can offer a great way to build up good reviews and encourage new business. You can find groups that meet up regularly and share referrals. This is a good way to find potential new customers and leverage your professional network.
2. Refine your Pitch
When you only have a short time to introduce yourself, your pitch can make a difference. First impressions can count for a lot, so prepare a good summary of your work. When networking, you can have a few sentences planned to introduce your business and encourage interest in what you do.
3. Have Confidence
Confidence can be hard to gain when starting out, but this is often where you need to “fake it to make it“. Have faith in your business and speak confidently about it. Be cautious when talking to clients about setting up on your own; they might not come along for the ride straight away and you might need to prove yourself first, so be sure to show confidence in your own ability.
4. Know Your Audience
Think about your target audience and consider how best to reach them. If you are targeting young people, consider social media and video. Posting short, interesting videos weekly can help you build a following. If your market is older people, consider golf clubs or museums and try to build relationships there. If you are working as an independent financial advisor Marlborough is a good city to build up relationships with all age groups. Because many people are searching here for an independent financial advisor Marlborough could be a sensible place to consider setting up business.
5. Check Spending
It is advisable to be cautious when spending money on advertising. Ask for multiple quotations before committing to an agency for digital marketing work, direct advertising or social media work. Consider your target audience and focus your marketing on that niche.