Fortunately, there are now many high quality and affordable third-party solutions advisors can use for this purpose. Not only do these solutions help advisors communicate to clients and prospects, they also allow advisors to see which prospects open emails, who clicks on attachments, and how long they spend watching or reading. Using algorithms, these applications can pinpoint the best channels, format and even time of day to reach prospects. Does the prospect use LinkedIn more than Facebook? Does the client prefer video to text?
In this day of shortened attention spans, even a prospect that has millions of dollars doesn’t necessarily want to read a hard-copy Economist-style treatment of some complex issue. To build relationships, advisors must be able to deliver the right type of content through the right channel at the right time. The only way to achieve that goal is by starting with a clear marketing strategy that defines the audience, maps the journey and secures the tools needed to move from prospect to converted clients. By approaching marketing with that type of strategic mindset, advisors will get the most out of their marketing budgets and open the door to new levels of growth.
Kevin Darlington is general manager of Broadridge Advisor Solutions.