Marketing Your Business For The Next Generation Of Advice

With the Quality of Advice Review focused on making financial advice more accessible for all Australians, there will undoubtedly be an increased importance placed on effective marketing strategies to attract new clients.

Under our current compliance regime, an adviser may be at full capacity with approximately 80 - 100 clients. However, post-QAR, we could see that number significantly increase. In the future of our industry, marketing your services will become a crucial strategy for growing your business.

Effective marketing strategies can help financial advice businesses differentiate themselves from competitors, build brand awareness, and attract new clients. One effective approach is to focus on engaging, entertaining, educating, and inspiring clients through marketing efforts.

Engage: The key to engagement is to start a conversation! There is no shortage of options you can use to get your message out there. With multiple social media platforms—your website, podcasts, youtube…… the list goes on. Regardless of which channels you use, the key to engaging your clients is getting started. 

Entertain: Entertaining clients is about showing that you “get” your client! Share content that caters to the interests and attitudes of your potential clients and shows that you understand where they’re coming from. A fun and engaging experience can help clients feel more comfortable with the financial advice process and can help build trust in the adviser.

Educate: Share your knowledge! What’s a common question potential customers have and are searching for? Answer it! What information can you share that will provide value to folks who may be in the market for your services? What news can you share that potential customers may not yet be aware of? This can cover a range of financial topics, such as investing, retirement planning, and tax strategies. Providing valuable information can position you as a trusted resource and help build a loyal client base

Inspire: Inspiring clients is about making people feel something or inspiring them to take action to achieve their financial goals. You want to turn ‘potential clients’ into ‘loyal clients’.

In order to effectively implement these marketing strategies, you need to have a clear understanding of your target audience. This includes understanding their needs, interests, and pain points. By tailoring marketing efforts to the specific needs of the target audience, you can more effectively engage, entertain, educate, and inspire.

Effective marketing strategies will be essential for any financial advice businesses in Australia. By focusing on engaging, entertaining, educating, and inspiring clients, you can differentiate yourself from competitors, build brand awareness, and attract new clients.

If you are looking for a dealer group that is leading the way in providing marketing solutions for your financial planning business, IIP has the tools and knowledge you need to thrive in the next generation of the advice industry.