There is no such thing as a safe investment. Investing is a scary business. Most people prefer to work with financial experts when it comes to finding the best place to put their money. Just like them, you’ve worked hard for every penny, and you don’t want to see it go to waste.
However, what if you’re the expert people turn to for financial advice? Are you using every tool at your disposal to make the best decision? The traditional marketing mix doesn’t apply to you because the result you provide is an intangible service that requires performance and industry expertise. Establishing your brand through performance is the proof your clientele and community needs.
Advising others on how to invest their money is a precarious profession. You potentially hold the key to your neighbor’s retirement, your cousin’s college fund, or even your parents’ elderly care costs.
In addition to your performance, you must portray a positive public image. Making a name for yourself in your community requires active engagement. Volunteering, advertising in your church bulletin, local civic participation – the list goes on. These are all great ways to be an active and respected member of your community.
But is this list enough? It can be, but only if the community gets your message.
The ABCs of Money
What’s missing in your marketing mix?
We’ve talked about the A-B-C’s of financial advice, but we can’t stop there. Focusing on your brand is what’s going to grow the business you’ve built. How well have you defined your brand? We’ve touched on the traditional marketing mix, but in the services industry, there are more than just the fundamental “4 P’s”: Price, Product, Promotion, and Placement. Providers of intangible goods – services – have more “P’s” to consider: Process, People, Performance, and sometimes Proof. Performance and Proof, in your case, go hand in hand.
Marketing your brand has always involved promotion via multiple channels to reach your target audience. Until just a few years ago this didn’t include social media. Why? Because platforms like Facebook, Twitter, and Instagram were seen simply as social channels to connect with friends and family, like a digital dinner table. While Facebook has offered paid advertising options since its launch, the evolution of Facebook advertising means that ads have changed almost as much and as often as the Feed. Facebook is the primary social platform most B2C businesses use, and today’s marketing mix must absolutely involve a social media strategy.
Can social media make you money?
New businesses are born every day, and some from the wildest of ideas – just like Facebook was at its launch. That said, businesses are making money with social media every minute. Are you late to the game?
We talked about the A-B-C’s of Money, so let’s move on to the 1-2-3’s and see how we can make the most of 2018 together.
(10)Last, but certainly not least is – no sales pitches! You may violate industry rule – and even your company’s regulations by pitching a sale on social media. Furthermore, you’re also going to annoy and alienate those with whom you’ve worked so hard to build trust and relationships.
This is only a short list of how we can make the most of 2018 together. We have many more opportunities to help your career further blossom in the coming year, including:
With social media, the possibilities are only limited by the user base. There will never be enough hours in the day to exhaust all the possibilities at your digital fingertips. Follow these A-B-C’s and 1-2-3’s with us and your 2018 will be your best year yet!Published on 5th February 2018 by Jon Morningstar
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