marketing strategies<\/a><\/span>. Social media, email marketing or even a good old fashioned mail campaign all need to be included or at least considered. The initial step requires building an audience through various online platforms and therefore will require an opening \u201cspending spree\u201d. However, when done properly then overtime you will be able to accumulate the right target audience on you social networks and email lists where posting and sending out email campaigns will become your primary strategy to acquire new business.<\/span><\/p>\nOnce branding and client acquisition are working to their optimum levels, it is important to allocate the rest of the funds into closing the sale and maximizing the ROI. Never underestimate a well-trained sales team to follow through with every prospect. Be sure to appropriate enough time to follow up (and do so more than once) because while prospects may be interested in your service the first time you approach them, others are not quite there yet.<\/span><\/p>\nBegin building a relationship with these leads when you initiate the sales cycle. Be sure to include prospects in your marketing efforts and they won\u2019t forget about you. They will let you know when they\u2019re ready to commit. Follow ups and continuous contact will also have a cost that will cut into your total budget but this is also the part where you are re-marketing to a group that has shown significant interest in your business and has a higher chance of conversions.<\/span><\/p>\nIn the end of the day, be sure to review your budget spending and draw conclusions on what works for you. Remember, that while certain expenses are a one-time fee, others will require a more consistent approach. Whichever strategy you chose and perfect be sure that your return exceeds your investment and that your budget is properly distributed.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"It is common knowledge that to make money one needs to spend money. It is equally important to properly allocate budget funds and maximize the ROI as a financial advisor. A recent article in Advisor Perspectives focuses on just that while breaking down what goes into the budget and estimating the cost for each portion… <\/p>\n
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