From Adviser Guide:
Selling Your Brand
Q: What are the pros and cons of marketing techniques?
The various marketing techniques all have pros and cons.
There are many techniques so David Shelton, independent consultant and author of The Business of Advice, said he would concentrate on three of the major ones.
Public relations pros:
1) You control the content and timing.
2) You can shape the coverage and where it concentrates.
3) You will be acknowledged as expert but you must be confident with the topic and comfortable with the interview situation.
Public relations cons:
1) Deadlines are critical – you must not miss them.
2) Avoid topics where you are not expert.
3) Don’t arrive late for an interview – you will be in the wrong mind-set.
4) Don’t forget to use words, tone and style that fit with the image of your business and that people will understand.
Client seminars pros:
1) They enable you to target a very specific group of people, often in conjunction with professional introducers and their client base.
2) You control the content, venue, length and style so you can create a positive impression so that those attending develop a strong desire to do business with you.
Client seminars cons:
1) Make sure material is up to date.
2) Avoid jargon and technical language.
3) Don’t cut corners on hospitality.
4) Avoid speaking for more than 20 minutes before switching topics or to another person.
5) Don’t use a lot of power point charts with lots of text – pictures and diagrams work much better.
6) Make sure you have a follow up process worked out in advance.
1) An excellent means of keeping in touch with clients, particularly the middle (C or silver) group of clients who are not seen every year.
2) To keep clients informed of important tax or legal changes and to give them an opportunity to contact you.
3) To offer specific services, products or funds.
1) Don’t make the content too technical – talk about concepts and issues to generate interest.
2) Don’t forget to include a covering letter to draw attention to particular issues – this is very useful if you buy-in generic content.
3) Make sure bought in newsletters carry your brand.
4) Don’t include too many topics– you need a good range so that there is broad appeal across the client base.
5) Don’t forget to research client views every two to three years.