With 2009 promising to be exceptionally tough for the economy, and with widespread predictions of redundancies across a range of sectors, IFAs need to adapt their marketing activities to those which are more appropriate to market conditions.
IFA Life has revealed a list of New Year resolutions, designed to help IFAs to not only come through tougher times, but to potentially increase their business levels and emerge even stronger when conditions improve. It has identified six core areas which IFAs need to focus on in their new 2009 marketing strategy leading to twenty specific activities:
1. Clearer differentiation of their service proposition
2. Regular communications to multiple prospects
3. Enable prospects to see and experience their expertise
4. Closer, more proactive and more regular interaction with existing clients
5. Foster a network of loyal advocates who will promote and refer your services
6. Develop multiple, robust relationships with professional connections
There are many activities which IFAs can include within each of the six core areas, all of which are included in IFA Life's 2009 New Year resolutions.
1. Write a new marketing strategy which includes a specific section on use of the internet
2. Create sections on your website, including content which is exclusively for existing clients and professional connections.
3. Add new content to your website every week (plan it in advance)
4. Start a Blog
5. Optimise your site for Google - check and analyse your website stats (once a week minimum)
6. Check your website against best practice and change as appropriate
7. Host a quarterly seminar and an annual weekend ‘boot camp'
8. Attend a monthly (or weekly) networking meeting - or start your own networking group
9. Build relationships with the national, local and industry media. Send out a press release every month
10. Write an article every month
11. Attend courses on:
a. Time management
b. Public speaking
c. How to run successful client seminars
12. Conduct short monthly client polls and one annual in-depth survey
13. Target to find one new professional connection every month
14. Send out a monthly email newsletter
15. Create a quarterly Podcast
16. Use networking sites like LinkedIn, Ecademy, Twitter and IFA Life. Log in for five minutes every day
17. Read the following four books:
a. Time Management for Dummies
b. Get More Referrals Now
c. Successful Seminar Selling
d. Wikinomics
18. Develop three new income streams by selling ‘information products' on your website
19. Set up a local Mastermind Group of IFAs and collaborate on a project
20. Write a book
Commenting on the New Year resolutions, Philip Calvert said: "2009 will be a year like no other year and we'll be into very different territory. As a result, many IFAs now need to dramatically up-the-pace on their marketing activities.
"Most IFAs rely on referrals being passed to them, which requires little proactive activity on their part. You simply can no longer assume that referrals will come in; you have to develop a referral mentality and go out there and get them yourself."
