Here is a thought experiment.
Let’s break the concept of marketing down into three components:
- Fast Implementation;
- Low Cost; and
- Effective Strategy.
We will call it the Marketing Triangle
Quick, pick any two.
Tick tock, tick tock, time is running out.
Ready? So which two did you pick?
This decision was likely more difficult when you started weighing out the possible options and combinations. If you want something that is fast to implement and has a low cost, it likely will not be an effective strategy. If you want an effective strategy that does not cost very much, it will likely take a lot of time to create and implement. If you want your strategy to be effective and executed quickly, it will likely be exceedingly expensive.
If you are like most independent financial advisors, you only have the time to pick two when it comes to your own marketing solutions. It is no wonder why so many financial advisors who try and do marketing on their own give up. They are looking for a golden ticket and trying to do all three of these factors on their own.
For many who try and fail, it can be debilitating and downright discouraging. Many even leave the industry because they haven’t seen their businesses grow in the way they needed and hoped. So what can we do about it?
Simply put, we need to not waste time doing things that can be delegated to someone else. Financial advisors are uniquely qualified to grow their businesses by meeting with clients and prospects. That is where their time is best spent. And because time is a finite resource, it can be squandered if you spend your own time developing your own marketing materials.
In this day and age, few advisors have time for that.
As a result, time is the cost of marketing. Your time is more valuable than your money. How you spend your time will determine how you grow. If you don’t spend enough time on marketing, you likely won’t have an effective strategy. If you do spend the time, then you’re not focused on growing your business by meeting with clients and prospects.
It’s a Catch-22.
But there is a solution and the most successful advisors have been doing it for decades: delegation.
The most successful financial advisors do not spend their own time writing their own commentaries, creating their own invites, or writing their own presentations. They get a team to do this for them and ultimately save tens of thousands (potentially hundreds of thousands) of dollars in labor costs. Those advisors spend their time doing what it is they do best, and they leave the rest to their marketing professionals.
Furthermore, they get the right professional team that gives them an edge on the quality of their content and design, and that directly reflects on the overall quality of their firms. Some top advisors will opt to hire their own graphic designers and copywriters to be on their staff, but this is simply out of reach for most. That approach could potentially cost hundreds of thousands of dollars in labor every year depending on qualifications and experience.
Instead, most advisors will outsource their marketing altogether. They will delegate most of the heavy lifting to a team that will help with achieving the marketing triangle: fast to implement, low cost, and effective.
Here at Platinum, we are that team. We have the qualifications and experience that you need to grow your practice. It’s like having a team of graphic designers, marketing consultants, and copywriters all on your staff without having to pay the salaries for that whole team. We spend the time creating the award-winning designs and content so you don’t have to. Give us a call and we’ll show you the golden-ticket strategies other advisors are using that are low cost, massively effective, and fast to implement.