3. Identify and adjust your current communication schedule. Here’s where I see many advisors getting into trouble—they have no consistent, unifying message. They publish a blog here and there, send out an email newsletter on an inconsistent basis, host a webinar every once in a while, and call their clients on an as-needed basis.
The most successful advisors I see are intentional and consistent in their communication schedule. They are clear on the messages they want to reinforce. They have a set of communication media that they use to get their message out. And they communicate their messages on a consistent frequency.
A quick way to get a handle on your communication schedule is to create a communication matrix in a spreadsheet. Create a column for each of your client segments and then create a row for each of the types and frequency of the communication. When done, you’ll have a matrix that shows the type of communication and the frequency of that communication for each client segment. From there, you can add an automation or a trigger in your CRM to prompt you for that communication.
As you develop the above, determine a) what gets communicated to clients only, b) what gets communicated to potential clients only, and c) what gets communicated to both groups. As you get more sophisticated in your messaging, you can break down the client and potential client groups into even smaller segments based on demographics, psychographics, or other attributes.
When your communication system is firing on all cylinders, your clients and your potential clients will get the right message at the right time on a consistent basis. And when that happens, good clients become your strong advocates and potential clients start signing on as new clients at a higher rate.
Steve Sanduski, CFP, is the founder of Belay Advisor; the CEO of ROL Advisor, a discovery process technology system; a New York Times bestselling author; host of the Between Now and Success podcast and a financial advisor business coach.