This is a good question – and one that does pop up now and again in our client meetings. What we usually say is that it entirely depends on your definition of marketing!
Many advisers think of marketing from a results point of view – new clients, sales made, but it is part of a much, much bigger picture.
- the action or business of promoting and selling products or services, including market research and advertising.
As above, in simple terms, marketing is about attracting clients to your company / product. In fact, marketing can be so much more useful to your business when implemented properly. You wouldn’t advise a client to make a financial plan without understanding their strategy/goals/aims/needs, would you? It’s the same for marketing. You won’t get very far by doing a few tweets and printing a brochure without having a strategy in place.
Marketing should be in every part of your business – it provides structure and support for the day to day work and ensures that everyone in your firm is working towards the same goals in a consistent manner. It is easy for a company to come up with a pithy vision and snappy values that can be displayed in brochures and in offices, but how easy is it to ensure that all aspects of these are embedded in everything your company does?
This is where marketing can help you. Weaving these into a narrative that will then populate your website, newsletters, brochures etc ensures that your company is kept on brand and the client experience is consistent. Consistency builds trust, which is a sought after value in financial services, after all!
In today’s world, brand awareness and marketing is key to a company’s success. Your brand is your identity, and when done right, it can mean the difference between struggling for recognition, or thriving as a dynamic business. You need a brand that creates a compelling, positive and lasting image of your business, which helps develop emotional connections with your clients. This is where the value is demonstrated – in the client experience.
There is so much more to marketing than brochures and social media – have a look at our Marketing and Design service page for more ideas to level up your offering in 2022…