Marketing is a tricky business – one that’s especially hard to keep up with while running a successful advisory practice. Between client work and time-consuming back-office operational tasks, many RIAs simply don’t have bandwidth to focus on utilizing the latest marketing trends and tactics.
Chief Marketing Officer Abby Salameh’s number one suggestion to advisors looking to take their marketing to the next level? Bring in the professionals.
At the 2019 HighTower Advisor Summit, Salameh discussed the challenges RIAs face when trying to build a brand. Watch the video.
Many advisors just don’t have the time or marketing know-how, and they don’t hire a marketing professional, Salameh said. “So while they may really want to grow their practices, they don’t understand how to do it, or have anyone there to help them execute.”
When advisors begin to understand what they need to do to properly market their businesses, it’s often not enough to just have a plan: They still need someone to hold them accountable for carrying out that plan. Having a supportive resource focused solely on marketing can fundamentally change an advisory practice, often in unexpected ways.
The magic of having a marketing professional backing you up is in the coaching and the accountability, said Salameh. “Every advisory business is different, with its own unique set of clients, niches, culture, geography and social circles.”
Having someone who is able to help you bring all of that together in a plan and take the lead on executing the plan to grow your client base puts advisory businesses on the right track for growth, said Salameh.
To learn more about HighTower’s Marketing and Advisor Success programs to help advisory businesses scale, get in touch. Email us at firstname.lastname@example.org.
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