Being a financial advisor and also maintaining growth in your business can be quite tasking but knowing what to do can help you scale through hurdles along the way.
Hi everyone my name is Timileyin and in this article i will be writing about 5 ways to grow your business as a financial advisor.
This is a very key topic in the finance world therefore it requires utmost attention.
1. Knowing your base
What i mean by a base is the community of people your services are relevant to. Your potential clients that have the strong tendency of needing your services.
Having this figured out will help ylu know where to target and also inform how your marketing strategy would be.
A financial advisor that doesn’t even care to have a niche for their services so they render it to every tom, dick and Harry.
This leads to loss of focus for them and they lose of out potential big business deals because no big business will want to give out such job to someone who isn’t specialized.
Now the reason why you venture into this business shouldn’t ultimately to make money but also to be a go-to person for financial advice.
With that being said you shouldn’t just take a job for a tax consultation because you’re being offered a higher pay when you actually specialize in the stock market.
When picking a niche, you need to be able to envisage what may likely happen in terms of it’s sustainability.
Checking out the relevance of the niche in the future and you can actually use the trends from different angle point to ascertain and predict the growth lf that audience you are creating.
2. Know your onions
Having done your research and picked a niche for your business, it is now time te build what what you have to offer.
This comes by knowing in details what the clients need and your solutions to their needs.
This helps a lot because before you go and start marketing, you already prepared ahead for what to expect and also how to help them around it.
Once you have that done and you start getting clients, a time will come that you just need litlr to no advertising for you to bring in lots of customers because peopls are mived majorly by what they see and not what they hear.
3. Draft out your marketing strategy
When starting up with the service rendering business, it may seem a little more difficult to convert customers due to the high competition your niche might be in which is why you need to come up with a quality marketing strategy.
This plan will show how marketing will be done and there are a lot of channels to go through.
Facebook, LinkedIn and a couple of other social media networks are viable platforms to start with.
On LinkedIn, there are different people with their occupation and qualifications.
Leveraging on that information will give you an edge on where to locate and target your potential clients. The same goes for Facebook.
4. Add some incentives to your services
Another way to help grow your customer base is to give incentives. This will help lure potential clients to the table and eventually sell your service to them.
Once you give them freebies, you will get their attention because of the value they can get from it. Having caught their attention, you can then sell your idea to them.
The freebie could be that you perform a free service for them in exchange for their attention and cooperation as the interaction goes on.
So far you are sure of your service and it’s importance to that niche, you will most often ths not sell your service to them and also add them to your custoner base.
5. Digitalize the process.
When the whole business gets into motion, you may be able to do everything at first but a stage will come when you need to really focus on the clients more.
During this stage, you need to think of ways to automate a couple of other things like sales, bookings and so on but never automate the interactive process between you and your clients.
That’s bad for business.
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