Five Little Things For Your Monday: October 5, 2020

It’s officially October and what better way to kick off a crisp fall morning then by settling in with some coffee and a Five Little Things article. For this weeks’ article, we are offering up some great tidbits from a roundup of great publications on everything from how often you should be communicating with your clients, recognizing bad marketing habits and changing them, what to expect from LinkedIn stories, time management and much more. Enjoy!

1. How often do elite advisors communicate with their best clients? via Advisor Practice Management

When it comes to communicating with your top clients, how often should you do this? It’s important that you have a communication plan so that you can be the most effective when it comes to speaking with them. Start by asking yourself:

How much communication does my best clients want? 

In order to start improving on your communications with financial advisors and create an ideal client checklist.

• Meetings per year
• Non-investment communication
• Personalized emails
  Ideal client appreciation
• Ideal client feedback and events  survey, and the financial professionals that do earn 52% more than advisors who don’t do feedback)
• Newsletters with engaging calls to action
• Personalized communications and special events
• Special events
• Regular newsletters

After looking at the above list, see which ones you are sending to your best clients and how many times you are communicating with your top clients. Would you say that you are contacting your best clients 10-15 times a year?   If not, find time to work on your communication plans in writing. What technology would make this easier? Now you know how to become an elite communicator from your ideal client’s perspective.

2. Good vs. Bad Advisor Marketing: Tactics to Stop and Start Doing Immediately via Nasdaq

When it comes to having a strong marketing strategy, you obviously want your tactics to strengthen your firm’s expertise and showcase your credibility. But, what if your efforts were actually costing you money and damaging your reputation?

So, can you recognize the difference between good marketing and bad marketing?

Some examples are BAD marketing are:

• You don’t have a defined niche
• You are inconsistent in your execution
• You are focusing on short-term gains

Some examples of GOOD marketing are:

• You have a defined niche/audience
• You are using consistent messaging
• You attract, engage and endear people to you

For the full list of each plus how to take good marketing to GREAT marketing, check out the entire article.

3. LinkedIn Is Getting Video Stories. What Will That Mean for Advisors? via WealthManagement.com

LinkedIn will now be joining other social media platforms and adding video story capability. Additionally, they are integrating a video chat from Zoom, BlueJeans and Microsoft Teams, according to a LinkedIn blog post.  Since video communication is definitely a way of the future, they feel that this will be positive for LinkedIn.

Samantha Russell had the chance to catch up with Wealthmanagement.com and feels that since LinkedIn is moving away from being so “buttoned-up,” that this can be a great opportunity for advisors that are looking for to promote webinars, and show “behind the scenes” content of advisors’ day-to-day. Additionally, they can publish tutorials on tax planning and the nuances of the CARES Act.

To hear what others had to say about this addition of video stories for LinkedIn, then check out the entire article.

4. Managing Your Time More Effectively via The Collaborative

This is an oldie but a goodie because we could all use some help with time management right now. Even with advancements in technology, it can be difficult to juggle everything that you need to do as a financial advisor. Add in a pandemic, virtual schooling, managing your home life and working, it has been increasingly difficult in 2020. A few things that you can do are:

1. Put yourself through a time management study
2. Find out what you are best at and then delegate the rest of the items
3. Consider outsourcing
4. Use your calendar effectively

Check out the entire article to find out more about how to best manage your time in 2020 and in the coming years ahead.

5. How the Pandemic Changed Investors’ Needs via Advisor Perspectives

The pandemic has changed the way that financial investors work and it has revolutionized financial behavior. Investors are looking for different qualities and services in financial advisors, as well. Samantha Russell discusses what investors want to talk about and what this means for your marketing tactics. A few things to keep in mind are:

• To keep current events in mind
• You need to be a thought-leader
• You need to consider the life stage of your investors

For more on this topic, check out the video below and the entire article on Advisor Perspectives.