Marketing can be a powerful tool, but how do you know if your practice really needs it? Here are 10 actionable steps you can take to find out.
1. Google Yourself
You Need To: Search your name and firm on Google.
Why It Matters: If your online presence is limited or outdated, potential clients may not find you credible. A strong online brand helps build trust and visibility.
2. Ask for a Client's Honest Feedback
You Need To: Ask one of your long-term clients why they chose you over another advisor.
Why It Matters: Understanding how clients perceive your value helps you identify what’s working in your messaging—and what’s missing. If they can't articulate why you're different, it may be time to refine your marketing.
3. Check Your Lead Sources
You Need To: Look at where your last 5-10 clients came from (e.g., referrals, cold leads, networking).
Why It Matters: If most of your clients come from referrals, and you want to grow faster, marketing can help diversify and expand your lead sources.
Feeling like this is a lot? Talk to us and we can help you figure it out,
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4. Review Competitors’ Websites
You Need To: Visit the websites of 3-5 local competitors.
Why It Matters: If they have a stronger online presence or more engaging content, it’s a sign that marketing could help you stay competitive.
5. Audit Your Social Media
You Need To: Scroll through your social media profiles—Facebook, LinkedIn, Instagram—and see the last time you posted.
Why It Matters: Inconsistent or nonexistent activity on social media can signal a missed opportunity to engage prospects and clients. If your social profiles are outdated, marketing could help you improve visibility and engagement.
6. Look at Your Pipeline
You Need To: Examine your pipeline and ask yourself: “How many new prospects am I getting per month?”
Why It Matters: A slow or empty pipeline is a clear signal that marketing is needed to keep prospects flowing consistently.
7. Survey Your Clients
You Need To: Send a quick survey to your current clients asking how often they read your emails or follow your content.
Why It Matters: Low engagement with your current clients could indicate that your marketing efforts (newsletters, blog posts, etc.) aren’t resonating. Marketing helps you re-engage and add value to the relationship.
8. Test Your Niche Clarity
You Need To: Write down the specific niche you serve and compare it with your website or social media bios.
Why It Matters: If there’s a disconnect between how you describe yourself and your marketing content, prospects may not understand what makes you unique. Marketing helps sharpen your message to reflect your niche clearly.
9. Ask Yourself How Many Times You've Been Passed Over
You Need To: Reflect on how many prospects chose another advisor over you in the past 6 months.
Why It Matters: If this happens frequently, your value proposition might not be clear. Marketing helps you communicate your strengths more effectively so clients don’t walk away.
10. Evaluate Your Time Management
You Need To: Calculate how many hours you spend each week on marketing tasks like posting on social media or writing blog posts.
Why It Matters: If you're not spending time on marketing—or spending too much time—outsourcing could make sense. Marketing professionals can optimize your time and efforts, allowing you to focus on serving your clients.
These 10 steps will give you clear insights into whether or not marketing should be part of your growth strategy. If several of these exercises reveal gaps, it’s a sign that marketing could help you reach your goals. Remember, it’s not about going from zero to 100—it’s about taking small, actionable steps to improve how you attract, engage, and retain clients. And if you're ready to get started, we're here to help.
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